Ethio Telecom and the African Development Bank (AfDB) are discussing ways to advance Ethiopia’s digital transformation. The talks aim to strengthen Africa’s digital economy.
At a high-level meeting, AfDB Vice President H.E. Mr. Solomon Quaynor and senior officials met Ethio Telecom CEO Frehiwot Tamru.
They explored financing options for Ethio Telecom’s major initiatives. These include expanding digital infrastructure, improving rural connectivity, and fostering fintech and cloud service innovations.
Frehiwot highlighted the telecom’s vital role in driving digital inclusion and creating economic opportunities. She said, “Ethio Telecom is a transformative force in Ethiopia and across Africa, driving digital inclusion and economic opportunities.”
Also Read: Ethiopia Accelerates Digital Transformation with Ethio Telecom Partnership
A Focus on Bridging the Digital Divide
The African Development Bank commended Ethio Telecom’s progress in closing the digital divide. It expressed strong support for the company’s ambitious plans.
Frehiwot stressed the need for funding to expand telecom networks. “We need critical financing to expand our telecom networks, which serve as foundational enablers for various sectors,” she added.
AfDB reaffirmed its commitment to Ethio Telecom’s $1.1 billion investment plan. This plan aims to improve telecom and digital infrastructure across Ethiopia.
The collaboration marks a significant step toward building a connected and digitally empowered Africa.