Ethiopia reportedly set in motion the process for the sale of a 40 per cent stake in Ethio Telecom, with the move coming three years after it unveiled plans to open up the state-run operator [1] to private investors.
Reuters reported the country launched a tendering process today (14 June) which allows potential investors to express their interest in owning a minority portion of the operator.
Ethiopia’s Public Enterprises Holding and Administration Agency deputy director Zinabu Yirga said the step represented the first of a number of stages to choose a successful bidder for Ethio Telecom’s stake, the news agency reported.
He also reportedly highlighted a desire among Ethiopian officials for government-owned enterprises to be productive and competitive as the driving force behind the move.
Brook Taye, senior adviser at the Ministry of Finance, explained the stake would be sold to a single investor, Reuters reported.
Ethiopia has been targeting privatisation in the telecoms market since 2018 but recent plans [2] to complete the sale of Ethio Telecom’s stake in early 2021 were apparently delayed.
[1] https://www.mobileworldlive.com/featured-content/top-three/ethiopia-opens-up-ethio-telecom-to-investors
[2] https://www.mobileworldlive.com/featured-content/top-three/ethiopia-set-to-move-on-delayed-incumbent-stake-sale
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