AfDB to Fund Ethio Telecom’s Digital Transformation Initiatives

January 21, 2025

(2 Minutes Read)

Ethio Telecom and the African Development Bank (AfDB) have initiated a strategic discussion on financing Ethio Telecom’s digital transformation initiatives. This collaboration will further enhance Ethiopia’s digital economy and expand Africa’s broader digital transformation.

During the discussion, Frehiwot Tamru, CEO of Ethio Telecom outlined how Ethio telecom is continuously growing and advancing as a key player in 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 encourage a more inclusive and sustainable future. To achieve this vision, Ethio telecom is actively attracting key partners, including financiers, to realize its dream of a digitally empowered Africa.

Tamru emphasised that Ethio Telecom’s efforts go beyond Ethiopia’s digital transformation—it is a catalyst for Africa’s digital empowerment. She reinforced the need for Africa to harness technology and digital solutions to overcome existing challenges, unlock new opportunities, and drive sustainable development. She further noted that financing the telecom industry is not merely about expanding connectivity; it is about empowering entire economies.

As key enablers for all sectors, telecom operators depend on financial institutions such as AfDB to continue expanding telecom and digital infrastructure, thereby enhancing national productivity, strengthening competitiveness, and accelerating Africa’s digital and economic growth.

Solomon Quaynor, VP AfDB and his delegation praised Ethio Telecom’s remarkable progress and its critical contribution to Ethiopia’s digital transformation. They recognised the company’s efforts in expanding and going beyond connectivity, driving financial inclusion, and fostering a promoting economy that supports businesses and citizens alike. Furthermore, he expressed a 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.

Ethio Telecom unveiled its strategic roadmap, committing to invest over USD 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 socio-economic growth across Ethiopia and Africa. This partnership with the African Development Bank is a milestone on the path to a connected, digitally empowered Africa, reaffirming the collective commitment to building a sustainable and technologically advanced future.