• Ethio Telecomis exploring financing support from Italy’s development bank Cassa Depositi e Prestiti (CDP) for digital infrastructure projects.
• The funding discussions relate to the operator’s “Next Horizon: Digital & Beyond”strategy aimed at expanding networks and digital services.
• The Ethiopian state operator targets 100 million users by 2028, including 88 million mobile subscribers.

Ethiopia’s state-owned telecom operator Ethio Telecomis seeking financial support from Italyto fund investments linked to its digital development strategy. The company has approached Cassa Depositi e Prestiti (CDP), the Italian public development bank, to explore financing opportunities for its digital infrastructure projects.

Ethio telecom CEO Meets CDP Leadership in Rome to Explore Strategic Financing for “Next Horizon: Digital & Beyond” Initiatives

The CEO of Ethio telecom, Frehiwot Tamru, together with members of her executive management team, pic.twitter.com/wQ2HVwpivd

— Ethio telecom (@ethiotelecom) March 12, 2026

Chief Executive Frehiwot Tamru, accompanied by members of the management team, met officials from the institution in Romeon March 12. 

During the meeting, the delegation held discussions with CDP representatives, including Carlo Rossotto, director of development cooperation and international institutional relations. The talks focused on financing options to support Ethio Telecom’s three-year strategy titled “Next Horizon: Digital & Beyond.” 

The plan targets large-scale expansion and modernization of telecom networks, development of digital and cloud infrastructure, expansion of innovative digital platforms, and growth of financial services such as Telebirr. The strategy also includes the creation of new digital ecosystem projects designed to support Ethiopia’s broader economic transformation.

Through the implementation of its strategy, Ethio Telecom aims to strengthen customer retention and expand its active user base. At the same time, the operator aims to build a competitive advantage against emerging competition from Safaricom, which has entered Ethiopia’s telecom market.

To achieve these goals, the company plans to increase 4G network coverage to 85% of the population, compared with about 70% currently. The operator also plans to deploy 5G services in ten additional cities. These investments should add 7.6 million new mobile capacity slots, bringing the total mobile network capacity to 112.4 million connections.

As a result of these investments, Ethio Telecom expects to expand its total service user base to 100 million. The projections include 88 million mobile subscribers, 67.3 million mobile broadband users, 1.6 million fixed broadband subscribers, and 75 million users of mobile financial services. 

The company expects its strategy to generate 842.3 billion Ethiopian birr ($5.37 billion)in revenue over three years. This projection represents 154% growth compared with the previous strategic cycle.

Ethio Telecom expects basic telecom services to drive the increase in revenue. However, the company also expects additional growth from fintech services, device sales, enterprise solutions and other digital services. 

Despite the discussions, the partnership remains at an early stage. 

Following the meeting, the two parties agreed to move the cooperation to the next stage after completing a non-disclosure agreement (NDA)between Ethio Telecom and CDP. The NDA will establish a formal framework that will allow both organizations to deepen discussions and exchange information. 

Based on this framework, Ethio Telecom will structure and prioritize a portfolio of strategic projects that require financing and will submit the relevant technical, financial and operational documentationfor review.

This article was initially published in French by Isaac K. Kassouwi

Adapted in English by Ange J.A de Berry Quenum