Ethio Telecom becomes the first company to list on Ethiopia’s new stock exchangeThis week, Ethio Telecom will become the first company to list on Ethiopia's newly established stock exchange : Ethiopian Securities Exchange (ESX), with the government selling a 10% stake in the state-owned telecom provider. The creation of the Ethiopian Securities Exchange (ESX) is a key part of these economic reforms. The sale of a 10% stake in Ethio Telecom also signals the government's intention to divest an additional 45% of the telecom company to investors. Ethio Telecom held a monopoly until 2022, when a consortium led by Kenya's Safaricom won the country’s first private telecom license. Brook Taye, CEO of Ethiopia Investment Holdings, also mentioned the possibility of issuing a second private telecom license in the future.

Source: Ethiopian News October 14, 2024 12:46 UTC