Issue 44: Ethio Telecom Targets Djibuti

Issue 44: Ethio Telecom Targets Djibuti

August 01, 2022

Hello, Ethio Telecom has announced its interest in expanding to other countries; meanwhile, another state-owned giant, the Commercial bank of Ethiopia, has disclosed that it facilitated more than 1.2 billion birr transactions through its digital channels in the past 12 months. Welcome to this week’s edition of Shega Weekly. Here are the major stories from Ethiopia’s innovative ecosystem.  If you are here because someone forwarded you this email, you can subscribe here to get future newsletters.

Issue 43: Ethio Telecom Has Djibouti in Mind For first Overseas Expansion 

According to Capital Newspaper, Ethio telecom is eyeing Djibouti’s telecom market to mark its first overseas service of the bordering state-owned telecom company.

The CEO of Ethio telecom has indicated that the firm has completed selecting priority areas and preparing to expand its business outside of Ethiopia for the 2022/23 fiscal year.

Although the CEO did not disclose the names of the countries of interest, unofficial sources told Capital Newspaper that the firm is planning to expand its business to the African market, including managing telecom companies such as the Djibouti telecom market. 

Raxio to Open Doors in 2023Raxio Ethiopia will open its Tier III ready carrier-neutral data center at the beginning of 2023.Raxio, with a data center that will accommodate 800 racks, promises its customers an optimized environment for their IT equipment in a scalable facility, security, AC/DC power compatibility, and redundancy.Established in 2018, Raxio Group is a portfolio company of a US-based investment firm called Roha Group Inc. Raxio Africa provides Tier III data centers that serve Africa’s digital entities. Read More.

CBE Transfers 1.2 Billion birr via Digital ChannelsThe Commercial bank of Ethiopia facilitated more than 1.2 billion birr in transactions through its digital channels in the 2021- 2022 period; this is according to The Reporter Newspaper.The figure, which amounts to 35pc of the total transactions, came from the banks 7.73 million ATM holders, 5.94 million mobile banking, 39,000 internet banking, and 5.38 million CBE Birr users. Read More.

Ethio Telecom Earns 61.3 BillionEthio Telecom has closed the 2021-2022 Ethiopian budget year earning 61.3 billion birr revenue. The figure showed 8.5 percent but was below the target.The revenue share, when described in terms of service types, shows 51% share for mobile voice, 27% for data & internet, 10% for international business 5.7% for value-added services, and 6.6% for other services.Mobile voice subscribers reached 64.5 Million, Data and Internet users 26.1 Million, Fixed Services 885.3K, and Fixed Broadband subscribers reached 506.8K. You can find more figures from the company’s annual performance report.

Israel Lends a Hand to Ethiopia’s Innovative EcosystemIsrael, which has one of the world’s most innovative and robust startup ecosystems, is lending a hand to the innovation ecosystem of Ethiopia.The Israeli government plans to boost the Ethiopian innovative and startup scene with plans to engage with startups and expropriate lessons from Israel, which has earned the nickname “Startup Nation.” Read More.

In Jimma, Dynamo is Teaching Children Robotics in Afan OromoRead at Shega how one Center for Technology, a Science, Technology, Engineering, and Mathematics (STEM) education and research center in Jimma, is teaching the basics of maths and Physics via Robotics.The center recently received recognition for its work and was named the winner of the 2022 edition of Ethiopia’s Startupper of the Year Challenge by TotalEnergies. 

Opportunity Alert Digital Square 

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