Ethiopia telecoms project secures financing boostPublished by: Natasha Doris at 14/06/2023The first private telecommunications project in Ethiopia has taken a leap forward in its development. The first private telecommunications project in Ethiopia has taken a leap forward in its development. The Global Partnership for Ethiopia has secured financing from the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) for its ongoing telecommunications project in the African country. The investment is set to facilitate the construction of the first private Ethiopian telecommunications system, including 4G and 5G mobile networks built by Global Partnership’s wholly owned subsidiary, Safaricom Telecommunications Ethiopia Private Limited Company. MIGA also provided USD one billion in 10-year guarantees to protect equity investments by Safaricom Ethiopia shareholders.

Source: Ethiopian News June 14, 2023 15:32 UTC