(2 minutes read)
· The Ethiopian Communication Authority (ECA) and Global Partnership for Ethiopia (GPE), consortium of conglomerates, sealed the license award deal yesterday
· The consortium of telecom giants and financial firm proposed to undertake the biggest ever foreign direct investment (FDI) valuing US$ 8.6 billion in Ethiopia of which the amount includes the license fee
· The service is expected to be commenced in the beginning of 2022
The Ethiopian Communication Authority (ECA) and Global Partnership for Ethiopia (GPE), a consortium of conglomerates, sealed the license award deal yesterday. As reported by www.trtendsnafrica.com, the consortium of Safaricom, Vodacom Group, Vodafone Group, Sumitomo Corporation, and CDC Group that is backed by financiers United States International Development Finance Corporation has already settled the US$ 850 million to secure the license.
The consortium of telecom giants and financial firm proposed to undertake the biggest ever foreign direct investment (FDI) valuing US$ 8.6 billion in Ethiopia of which the amount includes the license fee. The service is expected to be commenced in the beginning of 2022.
MTN, which was partnered with Silk Road Fund, was featured as one of the two finalists on the two telecom award process. But the telecom major failed due to its least offer for the license. It is expected to be part of the other round bid for which the date has to be firmed up.
