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.

Source: Ethiopian News October 14, 2024 12:31 UTC