The communications director in the country’s Ministry of Finance, Haji Ebsa, said last week that the government will give priority to the partial privatisation of Ethio Telecom as it considers the best approach for the entire process. Ethiopia is seeking to spur the country’s growth and development by attracting more foreign direct investment. Other state-owned corporations lined up for privatisation are Ethiopian Airlines, Ethiopian Shipping & Logistics Services Enterprise and Ethiopian Electric Power. In 2018, Ethiopia said it would terminate the monopoly of state-run Ethio Telecom and Ethiopian Airlines by opening up the market to both private domestic and foreign investments. 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.

Source: Ethiopian News February 09, 2019 12:45 UTC