In an effort to strengthen Ethiopia’s digital economy and advance Africa’s larger digital transformation, Ethio Telecom and the African Development Bank (AfDB) have initiated a strategic dialogue on funding Ethio Telecom’s digital transformation projects, the state-owned telecom announced on Thursday.
Increasing rural connectivity, developing fintech and cloud service innovation, and growing digital infrastructure are a few of the digital transformation projects.
AfDB Vice President of the Private Sector, Infrastructure, and Industrialisation Complex H.E. Solomon Quaynor, Deputy Director General for the East Africa Region Dr Leandre Bassole, and the bank’s senior management team visited Ethio telecom for a high-level strategic meeting in recognition of this shared vision.
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AfDB’s support for Ethio Telecom’s $1.1bn digital and telecom investment plan
The African Development Bank (AfDB) commended Ethio Telecom’s efforts to close the digital divide and reiterated its support for the company’s $1.1 billion investment plan in digital and telecom infrastructure.
Frehiwot Tamru, the CEO, chaired the discussions, which centred on the company’s ambitious plan to realize a Digital Ethiopia and beyond.
Ethio Telecom’s CEO explained during the conversation how Ethio Telecom is steadily expanding and developing as a major participant in Ethiopia’s and Africa’s digital transformation process.
Frehiwot underlined how Ethiopian telecom is a dynamic force that is promoting economic opportunity and digital inclusion in Ethiopia and throughout Africa. The CEO emphasised how urgently funding is needed to grow telecom networks, which are the fundamental building blocks that enable many industries.
Read also: Ethio Telecom, Jigjiga City Administration sign agreement to execute Smart City project
Ethio Telecom’s efforts in Ethiopia’s digital transformation agenda
In addition to actively supporting Africa’s wider digital growth, the company is speeding Ethiopia’s transformation to a fully connected, technology-driven economy by growing its user base and launching cutting-edge digital products.
Ethio Telecom, one of Africa’s biggest telecom providers, is dedicated to using technology to close the digital divide, generate income, and promote a more sustainable and inclusive future.
CEO Frehiwot Tamru, stressed at the conference that Ethio Telecom is aggressively seeking important partners, especially financiers, to fulfill its vision of an Africa empowered by technology.