Ethio telecom and the African Development Bank (AfDB) have initiated a strategic discussion on financing Ethio telecom’s digital transformation initiatives, a move that will further enhance Ethiopia’s digital economy and expand Africa’s broader digital transformation.
Recognizing this shared vision, H.E. Mr. Solomon Quaynor, Vice President of the Private Sector, Infrastructure, and Industrialization Complex at AfDB, along with Dr. Leandre Bassole, Deputy Director General for the East Africa Region, and the bank’s senior management team, visited Ethio telecom for a high-level strategic meeting. The discussions were led by CEO Frehiwot Tamru and focused on the company’s ambitious journey towards realizing a Digital Ethiopia and beyond.
During the discussion our CEO stated how Ethio telecom is continuously growing and advancing as a key player in Ethiopia’s and Africa’s digital transformation journey. By expanding its user base and introducing innovative digital solutions, the company is accelerating Ethiopia’s transition to a fully connected, technology-driven economy while actively contributing to Africa’s broader digital development. As one of the largest telecom operators in Africa, Ethio telecom remains committed to leveraging technology to bridge the digital divide, create economic opportunities, and foster a more inclusive and sustainable future.
During the meeting, our CEO Frehiwot Tamru emphasized that to achieve this vision, Ethio telecom is actively attracting key partners, including financiers, to realize its dream of a digitally empowered Africa.
Beyond Connectivity: Expanding Ethiopia’s Digital Landscape
The discussions highlighted Ethio telecom’s remarkable achievements over the past six years, particularly in the following key areas:
- Telecom and digital infrastructure expansion
- Rural connectivity initiatives
- Cloud services and data centers
- Digital payments and mobile money services
- Digital finance and fintech innovation
- Enterprise solutions for businesses and government
A Shared Commitment to Africa’s Digital Future
During the meeting, our CEO Frehiwot Tamru emphasized that Ethio telecom’s efforts go beyond Ethiopia’s digital transformation—it is a catalyst for Africa’s digital empowerment. She reinforced that Africa must harness technology and digital solutions to overcome existing challenges, unlock new opportunities, and drive sustainable development. She also underscored that financing the telecom industry is not merely about expanding connectivity it is about empowering entire economies. Telecom operators act as key enablers for all sectors. By financing telecom operators like Ethio telecom, financial institutions such as AfDB play a pivotal role in enabling these operators to continue expanding telecom and digital infrastructure, thereby enhancing national productivity, strengthening competitiveness, and accelerating Africa’s digital and economic growth.
H.E. Mr. Solomon Quaynor and his delegation commended Ethio telecom’s remarkable progress and its critical contribution to Ethiopia’s digital transformation. They recognized the company’s efforts in expanding and going beyoned connectivity, driving financial inclusion, and fostering a digital economy that supports businesses and citizens alike.
Furthermore, H.E Mr. Solomon and his team expressed their strong commitment to deepening the collaboration with Ethio telecom beyond financing. They highlighted several areas of potential partnership and reaffirmed AfDB’s readiness to support the company’s digital initiatives. Expressing confidence in the partnership, he stated:
“It is your Bank, and you can rely on us to support you in your next moves.”
A Bold Vision for the Future
At the start of the fiscal year, Ethio telecom unveiled its strategic roadmap, committing to invest over $1.1 billion in both telecom and digital infrastructure expansion. This significant investment reflects Ethio telecom’s unwavering determination to drive technological advancement, enhance digital inclusion, and support socioeconomic growth across Ethiopia and Africa.
Moving Forward Together
We extend our sincere gratitude to the African Development Bank for their willingness to support Ethio telecom’s digital transformation journey. This partnership is a milestone in the realization of a connected, digitally empowered Africa, reaffirming our collective commitment to building a sustainable and technologically advanced future.
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