Fairfax Africa Chair on the new Ethio-Telecom regulations

Ethiopia is setting the stage for a transformative period in its telecommunications sector as the Council of Ministers recently approved new establishment regulations for Ethio-Telecom, paving the way for the company to invest in the mobile sector and expand into international markets. The Global Chairman of Fairfax Africa Fund, Zemedeneh Negatu, shed light on the implications of these new regulations in a recent interview with CNBC Africa. One of the key highlights of the new regulations is the significant increase in Ethio-Telecom's capital, from 40 billion to 400 billion Ethiopian Birr, signaling the company's ambitious plans for scaling up its operations both domestically and globally. With aspirations to become a major player in the global telecom industry, Ethio-Telecom is gearing up for privatization and positioning itself for heightened competition with the introduction of two new telecom operators in the near future. The company's strategic move to bolster its capital base aligns with its expansion into new areas such as mobile money, a key revenue generator in the telecommunications market. This expansion strategy not only aims to strengthen Ethio-Telecom's domestic market position but also to establish a strong foothold in the international arena.