State Telco Ready to Launch 5G

May 7 , 2022


[ssba-buttons]

The state-owned Ethio telecom is to launch a 5G network on May 9, 2022. Executives says they have completed all necessary preparations for the launch, which has been in the making for over a year in partnership with Chinese tech giant Huawei. Ethio telecom has spent at least 41 million dollars on Huawei-powered core systems that would allow for the accommodation of 5G. The launch, which comes as the telecom monopoly prepares for its first taste of competition in the form of Safaricom Ethiopia Plc, would make Ethiopia one of only a handful of African countries to avail a 5G network. Others include South Africa and neighbouring Kenya. The state-owned operator has been expanding its 4G LTE network to urban areas outside of Addis Abeba for the past year, introducing it to 70 urban centres such as Bahir Dar, Adama, Dire Dawa, and Hawassa.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...