Ethiopia: Ethio Telecom Slated to Be First Company to Be Privatized

8 February 2019

Mergers, Acquisitions and Financial Results

Addis Ababa — Ethio Telecom will be the first company to be privatized partially from among the four state-owned companies the government has decided to privatize.

Ministry of Finance Communication Director, Haji Ebsa told journalists today that the government gave priority to partially privatize Ethio Telecom to take lessons from the process of undertaking privatization.

Accordingly, technical and steering committees are established under Ministry of Finance, and a macro committee under the Office of the Prime Minister, Haji added.

Among the major state-owned companies to be privatized include Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power.

It is to be recalled that the government decided to fully and partially privatize major state-owned and public enterprises for local and foreign investors to stimulate the country's development and economic growth.

Source: ENA