Safaricom Ethiopia would invest $60,000,000 to modernize the telecommunications sector in Ethiopia.
This was stated when the Industrial Parks Development Corporation and Safaricom Ethiopia signed an agreement today to invest 60 million US dollars in the Information Communication Technology Park.
IPDC and Safaricom came to an agreement for a $60 million investment in ICT Park. Sandokan Debebe, CEO of IPDC, and Anwar Soussa, CEO of Safaricom Ethiopia signed the agreement.
Mr. Sandokan Debebe, CEO of Industrial Parks Development Corporation, who spoke during the agreement, conveyed his congratulatory message, and said that the agreement we made with Safaricom is the biggest step in making Ethiopia's digital strategy plan a reality.
Mr. Sandokan Debebe, who reminded that one of the five main areas of investment that the government has focused on, is information communication technology. the Information Communication Technology Park, which is built in State of the Art and attracting investment, is a great demonstration.
The CEO said that all those who made efforts to make this investment a reality deserve special thanks and assured that his corporation will continuously provide all necessary support to Safaricom.
The CEO of Safaricom Ethiopia, Anwar Soussa, expressed his happiness with the support given by the government of Ethiopia and the Industrial Parks Development Corporation and announced that this is one of the biggest investments that Safaricom planned in Ethiopia.
He added that he was happy to be able to work together with the corporation and said that Safaricom is committed to modernizing Ethiopia's telecommunications sector, in addition to its own investment, to support others in the sector, to work on technology and knowledge transfer, and to strengthen existing relationships.
The agreement signed by the Industrial Parks Development Corporation and Safaricom Ethiopia today focuses on two issues. Safaricom Ethiopia will invest 60 million dollars in the Information Communication Technology Park and begin investment by leasing service land. On the other hand memorandum of understanding to update existing systems, to work together on cyber security, to start other investments in other industry parks, to work together through training and consulting, and to work in collaboration with IPDC on other works in the field.
Safaricom Ethiopia will begin investment by taking 10,000 square meters of service land in the Information Communication Technology Park and investing 60 million US dollars. 30 million dollars will be used to build the main data center and the rest will be used for additional operations in the sector.
The project will create job opportunities for more than 56 citizens when it start operation, and it is expected that it will contribute to the development of the telecommunication sector in Ethiopia and play a significant role in technology and knowledge transfer.
The project will help industrial parks and Ethiopia's industrial sector by providing reliable and efficient information to investors working in industrial parks to support their products through the digitization process, improve productivity, and implement clear and modern production system.
Safaricom Ethiopia participated and won the international tender issued by the government to modernize the telecommunications sector in Ethiopia and to facilitate the digital transition. The company started network testing in four cities and working to benefit 25 cities by next April.