Why Ethiopia’s local fintechs are worried
8 June 2022
When Ethiopia’s prime minister came into power in 2018, his administration’s move to liberalise sectors which had remained closed for over a century, was initially met with optimism. One of the biggest moves was in ending the monopoly of the telecom sector, which saw the Kenyan telcom giant, Safaricom, awarded Ethiopia’s first ever private telecom license for a whopping $850 million last year. Is this a good thing?