Ethio Telecom and the African Development Bank (AfDB) have initiated strategic discussions aimed at accelerating Ethiopia’s digital transformation and advancing the digital economy across Africa. These talks mark a critical step towards fostering innovation and enhancing connectivity on the continent.
At a high-level meeting held at Ethio Telecom, AfDB Vice President H.E. Mr. Solomon Quaynor, along with other senior officials, engaged with Ethio Telecom’s CEO Frehiwot Tamru to explore opportunities for financing the telecom company’s ambitious plans. These initiatives focus on expanding digital infrastructure, improving rural connectivity, and driving forward fintech and cloud service innovations, all of which are crucial for the continued growth of Ethiopia’s digital landscape.
Frehiwot Tamru, CEO of Ethio Telecom, highlighted the telecom giant’s transformative role in driving digital inclusion and creating economic opportunities, not only in Ethiopia but also across Africa. She emphasized the importance of securing necessary funding to support the expansion of telecom networks, which are essential for enabling a variety of sectors in the economy.
The African Development Bank acknowledged Ethio Telecom’s impressive strides in bridging the digital divide and reaffirmed its commitment to backing the company’s ongoing efforts. The AfDB also expressed its support for Ethio Telecom’s $1.1 billion investment plan, aimed at enhancing telecom and digital infrastructure in Ethiopia. This investment is seen as a key pillar in the broader vision of achieving a digitally empowered and connected Africa.
This collaboration between Ethio Telecom and the AfDB is expected to play a significant role in advancing digital growth across the continent, laying the groundwork for a more inclusive and connected future.
