Ethio Telecom Launches Share Sale to the Public

$5.6 Billion Needed for Education Rehabilitation in Tigray

• Ethio Telecom Launches Share Sale to the Public
  Ethio Telecom, the state-owned telecom giant, began selling 10% of its shares to the public on Wednesday in a historic initial public offering (IPO). The company offered 100 million shares valued at 30 billion Birr, with a minimum purchase of 33 shares and a maximum of 3,333 shares, each priced at 300 Birr. Ethio Telecom, which reported assets worth 300 billion Birr, had previously cancelled an international tender to sell 45% of its shares due to a lack of interested bidders.

• $5.6 Billion Needed for Education Rehabilitation in Tigray
  A regional Damage and Needs Assessment in Tigray has revealed that $5.6 billion is required to rebuild educational infrastructure damaged during the 2020-22 war. Out of 2,054 schools assessed in Mekelle and five other zones, 1,238 were partially destroyed, and 575 were completely destroyed. Additionally, the report revealed that 10,000 teachers lost their lives during the conflict.

• Debretsion Gebremichael Accuses Tigray Interim Administration of Incompetence
  TPLF chairman Debretsion Gebremichael criticized the Tigray Interim Administration for its failure to facilitate the return of internally displaced persons (IDPs) and to remove external forces from Tigray's territories. He rejected claims that the TPLF was trying to dismantle the Interim Administration, explaining that the party was only reshuffling its representatives. Debretsion also stated that issues, such as replacing Interim Administration President Getachew Reda, would be addressed in consultation with the Federal Government.

• Ethiopia and USAID Unveil Birr 5 Billion Disaster Risk Management Project
  Ethiopia launched a 5 billion Birr disaster risk management initiative in collaboration with USAID. The project, implemented by the federal Disaster Risk Management Commission across nine regions, aims to empower communities to prevent and mitigate disasters, including droughts, floods, and landslides. It will focus on strengthening early warning systems and response mechanisms and mobilizing local resources. The project is expected to benefit 14 million people in 120 woredas.

• Opposition Party Ezema Accuses Authorities of Detaining Members
  The opposition Ethiopian Citizens for Social Justice party (Ezema) accused authorities and security forces of detaining and harassing its leaders and members in Gardula zone, South Ethiopia region. Ezema claimed that the detentions were carried out under the pretext of tackling violence by armed groups, calling it an authoritarian move. The party urged the authorities to release the detained members and refrain from similar actions in the future.

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