Ethio telecom and the African Development Bank (AfDB) have officially initiated strategic talks aimed at propelling Ethiopia’s digital transformation and strengthening Africa’s digital economy. In a high-level meeting held at Ethio telecom’s headquarters, AfDB Vice President H.E. Mr. Solomon Quaynor, along with senior officials, met with CEO Frehiwot Tamru to discuss potential financing opportunities for the telecom giant’s ambitious plans.
The talks centered around key initiatives to expand Ethiopia’s digital infrastructure, improve rural connectivity, and foster growth in fintech and cloud services. Ethio telecom, as the leading telecom operator in Ethiopia, plays a crucial role in driving digital inclusion and economic growth, not just within Ethiopia but also across the African continent.
Frehiwot Tamru underscored the critical importance of financing in achieving these objectives. She highlighted the company’s role in enabling transformative digital solutions that bridge gaps in connectivity and access to services in remote areas. By expanding its telecom networks, Ethio telecom aims to serve as a foundation for the development of various sectors, including education, healthcare, and agriculture.
AfDB’s support is pivotal in driving the digital economy across Africa, and the bank praised Ethio telecom’s progress in bridging the digital divide. The two entities discussed collaborative efforts to realize a $1.1 billion investment plan aimed at enhancing telecom and digital infrastructure across the nation. This investment plan is expected to be a significant catalyst for further economic growth and digital empowerment.
In addition to expanding its infrastructure, Ethio telecom is focused on boosting innovation within fintech and cloud services. These efforts are in line with the company’s broader vision of fostering a digitally inclusive ecosystem that offers new opportunities for businesses and individuals alike, further accelerating Ethiopia’s economic transformation.
The collaboration between Ethio telecom and AfDB marks an important milestone in achieving a connected and digitally empowered Africa. With both parties committed to making substantial investments in the telecom sector, this partnership is poised to drive significant change, paving the way for a more digitally inclusive and economically integrated continent.
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