GPE Debt

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The Global Partnership for Ethiopia BV (“GPE” or the “Company”) was in May 2021 announced as the sole winner of Ethiopia’s unified telecommunication service license following a competitive bid process run by the Government of Ethiopia and the Ethiopian Communications Authority (“ECA”). Subsequently, the GPE formed Safaricom Telecommunications Ethiopia private limited company (“STE” or “Operating Company”), which was granted the License on 9 July 2021 by the ECA. The License authorizes STE to build, own and operate a nationwide public telecommunication network and offer telecommunications services. The Company and STE plan to roll out, launch and operate its 2G, 3G, 4G networks across the country with 5G in selected areas, enabling it to provide increased access to quality mobile and fixed connectivity solutions for individuals, corporates, and the government throughout the country (the “Project”). The Project aims to support the transformation of a series of SDG verticals via the provision of advanced telecom services dedicated to such verticals, incl. education, agriculture, medical, manufacturing, and tourism. The Project aligns with the government’s plan to digitise the Ethiopian economy and shift from a state-oriented development model to more liberalized models, including within the telecommunication sector.