Ethiopia said on Tuesday it would open its state-run telecoms monopoly and state-owned Ethiopian Airlines to private domestic and foreign investment, a major policy shift that will loosen the state’s grip on the economy. “Hence … while majority stakes will be held by the state, shares in Ethio Telecom, Ethiopian Airlines, Ethiopian Power, and the Maritime Transport and Logistics Corporation will be sold to both domestic and foreign investors,” the EPRDF said in a statement. It was referring to the state monopolies in the electricity, telecoms and logistics sectors, as well as the highly profitable national flag carrier. Earlier on Tuesday Ethiopia’s parliament approved the government’s decision to lift a six-month state of emergency two months earlier than planned. Eritrea’s Information Minister Yemane Gebremeskel told Reuters he had not seen the Ethipian government’s statement so could not immediately comment.

Source: Ethiopian News June 05, 2018 18:56 UTC