FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Safaricom Ethiopia Expands Its Network Rollout to Harari

Sep 3 , 2022


[ssba-buttons]

Safaricom Ethiopia Plc has expanded its large-scale customer pilot project to Harari Regional State two days after the operator announced the roll-out of its first service in Dire Dawa City. The start of services by Safaricom Ethiopia marks a historic milestone for Ethiopia where the monopoly of a state-owned enterprise held in the telecom sector for over a century comes to an end. Earlier this year, communications regulatory authorities designated Safaricom Ethiopia the block number '07' for its mobile calls. It is the second designation of blocked numbers after the '09' in use by the state-owned monopoly, Ethio telecom. Last May, the company placed an order to buy the first batch of three million subscriber identity module (SIM) cards. Executives of Safaricom Ethiopia plan to widen the network coverage to 25 cities across the country by April 2023. In May 2012, Ethiopian Communications Authority (ECA) awarded the Global Partnership for Ethiopia Consortium (GPEC), led by Kenya's Safaricom, a 15-year operator's license for 850 million dollars.


Radar

Abay Bank Lists on Ethiopian Securities Exchange as Fifth Entrant

Abay Bank Share Company began trading on the Main Board of the Ethiopian Securities Exchange (ESX) on June 25, becoming the fifth company to list after registering its ordinary shares with the Ethiopian Capital Market Authority (ECMA). The stock debuted at 1,800 Br a share, making all 9.66 million ordinary shares immediately tradable. The listing follows a year of strong financial and digital growth. For the fiscal year ended June 30, 2025, the bank reported a three-billion-Br profit, assets...


Radar

Court Freezes Bank Accounts and Assets in Cosmo Trading Dispute

The Federal High Court Civil Bench has ordered the Commercial Bank of Ethiopia, Awash Bank, Hibret Bank and Bank of Abyssinia to freeze accounts held by Cosmo Trading Plc and Haileyesus Mengistu, blocking transactions of up to 400 million Br. The order follows the House of Federation's April 27, 2026 decision to suspend enforcement of earlier commercial rulings while it reviews a constitutional dispute over inheritance and contested business assets. The case centres on a nine-storey hotel on...


Radar

Bule Hora, Kebri Dehar Universities Sign Austrian Partnership

Bule Hora and Kebri Dehar universities have signed separate memoranda of understanding with Austria's Leoben University to strengthen training in mining, petroleum and energy as Ethiopia seeks to build resource-based industrial capacity. The partnerships aim to enhance academic and practical skills in mining engineering, petroleum studies and energy systems, disciplines viewed as critical to the country's long-term extractive and industrial ambitions. Under the agreement, Bule Hora Univers...