ETHIOPIA’S ETC GIVES COOL RESPONSE TO AXEL TELECOM’S INVESTMENT OFFER
A Romanian private telecom entity, Axel Telecom and Security, last week offered investment capital worth US$25 million to the Ethiopian Telecommunication Corporation (ETC) to provide high tech telecom equipment for the expansion of various telecom technologies the corporation is introducing.
Axel Telecom was one of the government and privately-owned companies who sent their business delegation to Ethiopia last week. Axel Telecom and Security is one of the main radio communications and electronic security companies in Romania, which designs and implements radio-communications networks, data communication networks, remote monitoring and dispatch systems and alarm and fire detection systems, among other things.
According to Mr. Alexandru, who contacted telecommunication officials upon his business visit here last week, he briefed officials about his company’s schedule to join the telecom system in Ethiopia with a full understanding of the monopoly of the ETC.
"I have briefed telecommunication officials about our plan considering non- competing areas of activities in partnership," he said, adding that there were, nonetheless, no response and/or "any sign of negative or positive response from officials".
Alexandru expressed his unhappiness that the response from the telecommunication officials was not "as satisfactory as expected." Axel Telecom will, however, be waiting to hear from Ethiopian officials though.
"The sign we got puts the procedure we have learnt from the Ethiopian Investment Authority and Privatization Agency in contradiction," Alxandru said, adding that ETC might also have other plans.
Following any response from the ETC, he said, Axel Telecom would come with letters of intention to express the company’s determination for further negotiation in establishing an investment scheme for utilization of private funds for the ETC market.