The privatization will be done through a competitive bidding process, the ministry said Friday in a statement on its website. “Partial privatization of Ethio Telecom and private investment in the expanded telecommunications market will also contribute to attracting foreign direct investment,” it said. Firstly, the government will structure Ethio Telecom into two parts. Ethiopia recently enacted a law that creates a new telecommunications regulator to support the reforms. Ethiopia also plans to sell at least five sugar factories in 6 to 12 months, according to the ministry.

Source: Ethiopian News July 05, 2019 17:03 UTC