Ethiopia’s ‘Amazon’ set to join the ICT sector

ETech has announced plans to join the Ethiopian ICT sector with an initial capital investment of 200 million ETB. The firm aims to engage in cybersecurity, empowerment solutions, e-commerce and fin-tech, infrastructure, telecom, and software development services.

In a meeting of its shareholders, the firm announced that it is finalizing plans to begin selling shares to the public although the par value per share is yet to be determined.

ETech is a joint venture by more than 200 ICT and cybersecurity professionals living in Ethiopia and abroad. The firm plans on creating more than 500 jobs and opening an ICT incubation center in the ICT park located on the outskirts of Addis Ababa.

President of the Ethiopian Chamber of Commerce and eTech Board Chair Melaku Azezew told press that the firm aims to address the gap in Ethiopia’s digital economy and resolve the brain drain of Ethiopia’s ICT professional due to lack of sustainable digital frameworks.

The CEO of the firm, Shimelis Gebremedhin, also affirmed the firm’s commitment to being a tech giant by 2030. He told the press that eTech plans on becoming Ethiopia’s Amazon within the near future. He also stressed the importance of maintaining Ethiopian data sovereignty by barring foreign companies and encouraging local ones like eTech.

The Reporter

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