Ethiopia raises $850m from historic telecoms auction!

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, in today’s exchange rate the amount is equivalent to 36 billion birr

The auction also expected to generate $8 billion FDI for building networks in the next decades.

Orange of France and Etisalat of the United Arab Emirates who withdraw from the competition are expected to take a second look when the license is retendered for the second round. Prime Minister Abiy Ahmed on Tuesday disclosed plans to sell up to 40 percent of shares in the state-owned telecom monopoly Ethio-Telecom by July.

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