Ethiopia has officially launched the sale of a 10% ownership stake in Ethio Telecom, the country’s leading telecommunications provider, as part of a broader initiative to engage citizens in the telecom sector. Prime Minister Abiy Ahmed announced the commencement of this sale, marking a significant transition for Ethio Telecom, which has evolved from a state-owned development company to a shareholding entity. The government has emphasized that this initiative is part of Ethiopia’s first capital market sale and is designed to enhance public participation in the telecom sector. In this initial round of sales, Ethio Telecom is offering 300 million ordinary shares valued at 100 birr each. Interested buyers must comply with requirements set by the Ethiopian Capital Market Authority as part of the public offering process.

Source: Ethiopian News October 21, 2024 08:51 UTC