Econet Global in race for Ethiopian telecom license

Econet Global Ltd, controlled by Zimbabwean billionaire Strive Masiyiwa, is looking forward to acquire a telecommunications license in Ethiopia, which is opening up the industry to foreign investment for the first time.

According to the company’s spokesman, “Econet, through a number of its subsidiaries, is actively developing interests in Ethiopia. Given that there is a competitive process on new licenses, it would not be appropriate at this stage to discuss our own positioning.”

Following the Ethiopian government’s statement to sell up to 49 percent of the government-owned sole telecom provider in Ethiopia, Ethio Telecom, along with an intent to issue two new telecom licenses, several carriers have been showing interest to venture into Ethiopia’s telecom industry. Orange, MTN, and Vodacom have already showed their interest in the 100-million-plus market.

Econet is present in Zimbabwe, Lesotho and Burundi, and investments in Europe and South America. Masiyiwa’s Liquid Telecoms, Africa’s biggest fiber company, has assets across the continent.

Source: Bloomberg