By Aaron MaashoADDIS ABABA (Reuters) - Ethiopia aims to offer foreign firms stakes in some state-owned companies to help modernise the businesses, the prime minister said on Monday in a shift from stressing state investment to drive growth. The move would include offering a stake in state-owned Ethiopian Shipping and Logistics Services Enterprise, Prime Minister Hailemariam Desalegn told a news conference, without naming other firms or giving the size of any stakes on offer. "When foreign companies get into these kinds of companies, they will obviously bring technologies, know-how and managerial capability," he said. Foreign investment has already been rising from a low base, including farms producing flowers and other horticultural products for export and in manufacturing. The prime minister told Monday's news conference that emergency rule had helped restore "normalcy" but the government now had to "consolidate the gains", giving no clear timeline for lifting the measure.
Source: Ethiopian News January 09, 2017 17:47 UTC