EthioTelecom CEO Frehiwot Tamiru outlining her organization’s three year plan

The Ethiopian Council of Ministers has announced the provision of new regulations for EthioTelecom to increase the range of services the organization provides besides its traditional services.

The new establishment regulations, according to sources close to the case, are intended to facilitate the expansion of EthioTelecom’s services into the finance sector of the country. 

Addressing concerns related to ongoing privatization efforts, experts affirm that the new regulations are not going to hinder or in any effect the process.

One of the main avenues that EthioTelecom is expected to expand into is mobile money.

Some maintain, however, that this is inaccurate given the conflict this would create with Ethiopia’s financial sector investment laws. These laws maintain that only Ethiopians and Ethiopian diasporas are allowed to invest in Ethiopia’s financial sector.

If no further provisions or clarifications are made, the new regulations allow foreign investors (who are set to acquire 40 percent of stakes in EthioTelecom) to invest in Ethiopia’s finance sector through the telecom giant.

Capital Ethiopia, Walta

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