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French Foreign Trade Minister Matthias Fekl expressed his country’s and French investors’ interest to invest more in Ethiopia.

France Telecom handed over the administration of Ethiopia Telecom back to Ethiopian authorities this week. Domestic management took over the administration of the telecommunications corporation after two and a half years at the end of the contract reached between the French corporation and the Ethiopian government.

Some of the French management team will remain to provide support for the next few months according to sources.

Telecom coverage in the country grew from just 8% to 25% under the French management of the telecommunication provider it was noted.

The management of Ethio Telecom will be handed over to Ethiopian staff once again as of December 13th. It is to be remembered France Telecom, the French telecom giant, had been managing the company on a contract bases since 2010.

France Telecom was given a two year contract to manage the state owned Ethio Tlecom with the intention of boosting telecom operations in the country, according to Dr Debretsion Gebre Michael, Deputy Prime Minister and Minister of Information and Communication.

This contact will expire end of this month. The contract will not be extended further and Ethio Telecom is not negotiating with any other foreign based telecom for further management contract said Dr Debretsion.

A Delegation of French business paid a two day visit to Ethiopia. The delegates represented firms interested in involving in the country’s transport and power sector.  

The delegation consisted of fifteen companies representing several sub-sectors including machinery and equipment, urban development,  Infrastructure, energy, transportation and logistics, engineering, high technology, services to government and international trade, insurance and law firms.

The business delegation met with Prime Minister Hailemariam Desalegn,and held in depth discussions on the development policies and strategies adopted by the country.

The French company Malteries Soufflet, a division of the InVivo Group, has inaugurated its first malt house in Africa, 28th for the company, which is located in the Bole Lemi industrial park in Addis Ababa, Ethiopia, in the presence of Prime Minister Abiy Ahmed. The malt production site, which came into service a year ago, is based on a local supply chain for malting barley, the company stated.