ADDIS ABABA, Feb. 10 (Xinhua) -- The Ethiopian government has invited interested parties in the partial privatization of the state-owned telecommunication firm, Ethio-Telecom. "The government of Ethiopia is proposing a partial privatization of Ethio-Telecom ... by selling up to 45 percent of the equity share capital of the company," the Ethiopian Ministry of Finance disclosed in a statement issued late Thursday. The ministry said Ethio-Telecom's robust infrastructure coupled with its strong financial performance will offer a significant competitive advantage to any investor. It also said the existing low telecom density in the East African country highlights the huge untapped potential in the country's telecommunication sector. Ethiopia awarded its first private telecom license in May 2021 to a Safaricom-led consortium for a license fee of 850 million U.S. dollars.

Source: Ethiopian News February 10, 2023 23:25 UTC