Addis Ababa is looking to sell a larger portion of its state-owned telecommunications company, Ethio-Telecom. The Ethiopian government plans to privatize Ethio-Telecom and has increased the number of shares it plans to sell from 40% to 45%. The government had planned to sell the company in 2022 but paused the sale due to a civil war. The conflict has since ended, and Ethio-Telecom has restored services in 27 towns and cities since then. The government has emphasized the untapped potential in Ethiopia’s telecommunications sector and highlighted Ethio-Telecom’s robust infrastructure and strong financial performance as a significant competitive advantage to any investor.

Source: Ethiopian News February 21, 2023 07:48 UTC