Ethiopia’s Ministry of Finance invited proposals from parties interested in buying a 40 per cent of state-owned mobile operator Ethio Telecom, as the country continued efforts to boost its communications industry.
In a statement, the government department explained it was looking for investors capable of adding value in areas including operations, infrastructure management and next-generation technology capabilities.
No price guide for the minority stake was cited in the release, though it is asking for $20,000 from interested parties to receive a copy of the request for proposal document detailing what is being offered and associated terms.
Interested parties also have to sign a confidentiality agreement.
The ministry added Ethio Telecom had robust infrastructure and a strong financial performance which offers a “significant competitive advantage to any investor”.
Sale of the stake in the only operator currently offering services comes as part of a wider strategy [1] designed to bring competition to the sector and improve accessibility to mobile services.
Earlier this year Ethiopia issued its first private licence [2] to a consortium led by Vodafone Group affiliate Safaricom and is in the process of recruiting a second new entrant [3].
Simultaneously it prepared to sell the Ethio Telecom stake, asking for initial expressions of interest in June [4] after shifting its original timeline [5] due to the Covid-19 (coronavirus) pandemic.
As the processes progressed Ethio Telecom has been working to boost coverage and expand its offer [6].
[1] https://www.mobileworldlive.com/featured-content/top-three/ethiopia-opens-up-ethio-telecom-to-investors
[2] https://www.mobileworldlive.com/featured-content/home-banner/vodafone-safaricom-beat-mtn-to-ethiopia-licence
[3] https://www.mobileworldlive.com/featured-content/top-three/ethiopia-to-rekindle-second-mobile-licence-tender
[4] https://www.mobileworldlive.com/featured-content/top-three/ethio-telecom-sale
[5] https://www.mobileworldlive.com/featured-content/top-three/ethiopia-set-to-move-on-delayed-incumbent-stake-sale
[6] https://www.mobileworldlive.com/featured-content/top-three/ethio-telecom-ups-4g-play-as-competition-looms
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