Ethiopia to sell 40 per cent of Ethio Telecom, says Minister

The Government of Ethiopia, which has been in the process of privatizing a number of state-backed businesses and propelling the nation towards a market-oriented economy, would sell off a 40 per cent stake of Ethio Telecom, the Addis Ababa-based lone telecommunication service provider in the horn Africa, as a part of the Ethiopian Government’s attempt to open up the world’s last major telecom market, Ethiopia’s State Minister of Finance Eyob Tekalign Tolina said to a press agency. Apart from that, two senior Government officials directly briefed over the subject-matter were quoted saying on condition of anonymity that a number of foreign firms would be invited in the auction, while the Ethiopian citizens would also be allowed to purchase small minority stakes in Ethio Telecom and the Government would retain the controlling 60 per cent stake. In point of fact, latest remarks from Tolina to sell off a 40 per cent stake of Ethio Telecom came forth a day after the Ethiopia’s Communication regulator said that Ethiopia, the low-income landlocked African nation, a third of whose population has been residing below poverty-level, would leap forth with its planned stake sale of the monopolized telecommunication sector despite a pandemic outbreak at large. Nonetheless, while being asked over the issue, the Ethio Telecom had declined to comment over the auction procedure, though a spokeswoman for the Ethiopian telecom giant had confirmed that an auction for Ethio Telecom’s 40 per cent stake would take place in a near-term outlook. Ethio Telecom stake sale- a bigger bet to liberalize nation’s economy for PM AhmedMore importantly, as the Ethiopian Prime Minister Abiy Ahmed has been seeking to open up the nation’s economy, a privatization of the country’s telecom industry is contemplated as one of the strongest pushes to turn PM Ahmed’s vision into a realty given the scale of the size of the market that serves nearly 110 million people.

May 25, 2020 21:00 UTC


Another Kenyan Aircraft Shot In Somalia Allegedly By Ethiopian Troops

(KDRTV)-Another Kenyan plane was allegedly shoot by Ethiopian troops in Somalia in Qansahdere, Bay region in SomaliaThe aircraft was shot while carrying humanitarian aid and caught fire mid-air after the shootingReports indicate that the Kenyan plane, registration number 5Y-VVA, recorded no injury or fatality during the incidentRead also: Somalian Forces ‘Mistakenly’ Crash Kenyan Aircraft With RPGHowever, according to the Voice of America (VOA) correspondent in Somalia, Harun Maruf, preliminary reports hints that Al-shabaab militants are to blame for the shootingAt the same time, KDRTV understands that several sources in Somalia allege that the downing could have been mistakenly done by the Ethiopian troops attached to the areaSomalian online media agency, Halgan Media asserted that the crew on the aircraft were arrested by the Somalia`s National Intelligence and Security Agency (NISA) agents and phones taken away after the incident. KDRTV recognizes that this is the second time Kenyan plane is being attacked in Somalian region being protected by the Ethiopian troops with the first incident claiming lives of six crew. According to our previous reports, on Monday, May 4, 2020 an aircraft called African Express was crashed by Ethiopian troops in Somalia near Bardale TownOn the following day, the Kenyan government obligated the Somalian government and global agencies to investigate the incidentRead also: Uproar as COVID-19 Pitches Camp in LangataHowever, on Saturday, May 9, Ethiopian Army admitted that they shot the plane but they claimed to have downed the it mistakenly for ‘potential suicide mission’

May 25, 2020 18:49 UTC


Tags
Finance      African Press Release      Lifestyle       Hiring       Health-care       Online test prep Corona       Crypto      Vpn     
  

Loading...