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Ethio- Telecom Establishment (Amendment) Council of Ministers Regulation No. 480-2021

REGULATION NO. 480/2021

COUNCIL OF MINSTERS REGULATION TO AMEND THE REGULATION FOR THE ESTABLISHMENT OF ETHIO-TELECOM

WHEREAS, Ethio-Telecom have a vital role in the attainment of Government’s Policy of digital finance inclusion;

WHEREAS, it is found important to amend Ethio- Telecom’s Establishment Regulation;

NOW, THEREFORE, this Regulation is issued by the Council of Ministers pursuant to Article 5 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No 1097/2018 and Article 47(1) (a) of the Public Enterprises Proclamation No. 25/1992.

1. Short Title

This Regulation may be cited as the “Ethio- Telecom Establishment (Amendment) Council of Ministers Regulation No. 480/2021”

2.   Amendment

The Ethio-Telecom Establishment Council of Ministers Regulation No. 197/2011 is hereby amended as follows:

1Sub-Articles (1), (2) and (7) of Article 5  of the Regulation are deleted and replaced by the following new Sub- Articles (1), (2) and (7) :

5. Purposes

1/ to provide and make accessible up to date telecommunication technology service to  the Public based on world class standard;

2/ to build competent work force with appropriate knowledge, skill, and work culture to provide world class telecom service;

7/ to engage in other related activities necessary for the attainment of its purpose including forming an entity.”

2/ The following new Sub-Articles (4) and

(5) are added after Sub-Article (3) of Article 5 of the Regulation and the existing subsequent Sub-Articles are re- numbered as from Sub-Article (6) up to (9), respectively :

“4/ to engage in mobile money and related digital financial services. Without prejudice to the generality of the forgoing provision, provide the following services but not limited to m-ticketing, bill payment for any utilities and provide products services defined in any Payment Instrument Issuers Directive and its amendments issued by the National Bank of Ethiopia and amendment thereto;

5/ to participate in any  equity  investment domestically and at international level.”

3/ Articles 6 of the regulation is deleted and replaced by the following new Articles 6:

6. Capital

The Authorized Capital of the Telecom is Birr Four Hundred Billion (400,000,000,000) of which Birr One Hundred Billion (100,000,000,000) is paid up in cash and in kind.”

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3. Effective Date

This Regulation shall come into force on the date of its publication in the Federal Negarit Gazette.

Done at Addis Ababa, on this 1st day of February 2021.

ABIY AHMED (DR.)

PRIME MINISTER OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA

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