(Reuters) - Ethiopia's government is discussing selling 10% of state-owned telecoms company Ethio Telecom via a local stock exchange that is being launched this year, Prime Minister Abiy Ahmed said on Tuesday. Ethiopia's telecoms industry, serving a population of about 120 million, was considered a big prize when Abiy took over in 2018 and promised to liberalise the economy. A spokesperson for Abiy did not respond to requests for comment about how the board deliberations on Ethio Telecom concluded. Abiy described the launch of the East African country's stock exchange as "a game-changer, supporting Ethiopia in achieving its growth aspirations and attracting new capital" in a post on social media platform X on Tuesday. A telecoms industry insider said the plan was for the government to retain 45% of Ethio Telecom, sell 45% to investors and list 10% on the stock exchange.

Source: Ethiopian News February 21, 2024 03:54 UTC