The first listing will be operator Ethio Telecom, the country’s largest telco, which will sell a 10% stake this week. The government has also announced plans to divest a further 45% stake in Ethio Telecom to investors in the future. With over 70 million subscribers, Ethio Telecom is a key player in Ethiopia’s digital transformation. The company was awarded a license in 2021 for $850 million, allowing it to compete directly with Ethio Telecom. The competition from Safaricom has already led to better pricing and expanded services, pushing Ethio Telecom to improve its offerings.
