Program is said to be part of Ethio-Telecom’s , which will be the first national asset to be privatized,Corporate Social Responsibility package.
borkena
January 1, 2020
Ethiopia’s giant state-owned telecommunication company unveiled this week a 16 million birr financial assistance project to University students.
It was unveiled on Tuesday in the capital Addis Ababa in the presence of members of the House of Peoples Representatives and university presidents, the company announced in a press release which is published on Ethio Telecom website.
This year-long project is intended to support needy students in 45 state universities across Ethiopia.
Ethio-Telecom CEO, Firehiwot Tamiru, said that the program will support 4000 students who are unable to cover their daily expenses. It is not, however, revealed as to how much money is allocated per student. What is known is that students will be getting the financial assistance in the form of monthly stipend.
It was mentioned during the ceremony that Ethio-Telecom initially started a similar program in 2018/2019 and about 853 students in 13 Universities benefited from it.
The skyrocketing cost of living in Ethiopia has made it impossible for many families to financially support their children attending institutions of higher learning.
Apart from financial challenges, University students have been facing security challenges in recent months with the rise of radicalized ethnic-nationalists in different parts of the country. At things stand now, several universities are closed following the death of students and ongoing security issues.
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I thought Ethio Telecom was to be sold to foreign investors because it was not making profits. If it is profitable why sell the profitable company ? I don’t get it.