(Nov 20, 2014, (VENTURES AFRICA))--Sweden’s Ericsson and Finland’s Nokia are lying in wait if an $800 million telecommunication deal between China’s ZTE Corp and Ethiopia falls through. According to Reuters, Ethiopia has told ZTE Corp it could lose its $800 million deal to expand the nation’s network due to differences over costs of upgrading existing systems.
The deal is part of a $1.6 billion contract awarded by the Ethiopian government and state-run operator Ethio Telecom to ZTE and another Chinese firm Huawei Technologies Co Ltd. The contract was awarded under a long-term loan package to be paid over a 13-year period with an interest rate of less than 1 percent.
Ethio, which enjoys a monopoly over Ethiopia’s telecom space, plans to double mobile subscribers to 50 million in 2015 and expand its 3G service. It also wants to introduce high-speed 4G network in Addis Ababa. Read more from Ventures Africa »
The deal is part of a $1.6 billion contract awarded by the Ethiopian government and state-run operator Ethio Telecom to ZTE and another Chinese firm Huawei Technologies Co Ltd. The contract was awarded under a long-term loan package to be paid over a 13-year period with an interest rate of less than 1 percent.
Ethio, which enjoys a monopoly over Ethiopia’s telecom space, plans to double mobile subscribers to 50 million in 2015 and expand its 3G service. It also wants to introduce high-speed 4G network in Addis Ababa. Read more from Ventures Africa »
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