ZTE agrees to loan ETC USD1.5 billion

13 Mar 2007

The Ethiopian Telecommunications Corporation (ETC) has signed a USD1.5 billion loan with Chinese telecoms equipment vendor ZTE for the upgrade of its telecoms network. In September last year ETC signed an memorandum of understanding (MoU) with three Chinese companies – ZTE, Huawei Technologies and Chinese International Telecommunication Construction Corporation (CITCC) – to undertake expansion projects worth USD1.5 billion over four years. According to a report in the local press once the project is complete ETC’s fibre-optic network will extend some 10,000km and have a capacity for seven million lines.

Ethiopia, Ethio Telecom, Huawei Technologies