📋 Tender Overview
Project Number: 49097
Company Name: SAFARICOM TELECOMMUNICATIONS ETHIOPIA PLC
Date SPI Disclosed: May 14, 2024
Country: Ethiopia
Region: Eastern Africa
Projected Board Date: Jun 28, 2024
Environmental Category: B
Status: Pending Approval
Last Updated Date: May 15, 2024
Department: Regional Industry - INF Africa
Industry: Telecommunications, Media, and Technology
Sector: Mobile Telephony
Project Description
Global Partnership for Ethiopia BV ( GPE ) was announced as the sole winner of Ethiopia’s mobile telecommunication license in May 2021 following a competitive bid process run by the Government of Ethiopia. The license authorizes GPE to build, own and operate a nationwide public telecommunication network through its wholly owned subsidiary, Safaricom Telecommunications Ethiopia Private Limited Company ( STEP or the Company ). The Company plans to roll out, launch and operate its 2G, 3G and 4G networks across the country, enabling it to provide increased access to quality mobile and fixed connectivity solutions for individuals, corporates and the government (the Project ). The Project aligns with the government’s plan to modernize the Ethiopian economy and shift from a state-oriented development model to more liberalized models, including within the telecommunication sector.
Total Project Cost and amount and nature of IFC's Investment: The Company plans to invest over USD8 billion in Ethiopia over the next 10 years. Under this proposed Project, IFC is considering providing STEP with a loan of up to USD 350 million to support the Project (subject to review and approval by Safaricom ET’s shareholders).
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
