Ethiopia seeks adviser for privatisation of telecoms operator

27 September 2019

Mergers, Acquisitions and Financial Results

Ethiopia is looking for an adviser to help it with the partial privatisation of its state-run telecoms operator, the finance ministry said on Tuesday.

Ethiopia first announced plans to offer a minority stake in its Ethio Telecom monopoly in July and said that foreign companies will be invited to bid.

A statement from the finance ministry said it requires consultation services to help with the valuation of Ethio Telecom and how much of the business will be sold to private companies.

The government also said in July that Ethiopia will award two telecoms licences to multinational mobile companies.

The telecoms industry is considered a big prize in a push by Prime Minister Abiy Ahmed to liberalise the Ethiopian economy.

Source: Reuters