Five percent shares of Ethiopia's sole telecom services, Ethio Telecom, are to be sold to Ethiopian citizens, while 40 percent stake will be sold to international companies. The decision to sell Ethio Telecom's 40 percent stake has been announced in May this year, while the reservation of five percent stake for Ethiopian nationals is a rather new announcement. This has been disclosed after Ethiopian government officials and stakeholders discussed activities being carried out to improve Ethiopia's telecom sector. The discussion, held in the presence of Prime Minister Abiy Ahmed, focused on the decision to partially privatize Ethio Telecom in a bid to attract additional telecom companies into the country. Prime Minister Abiy further noted the liberalization of the telecom industry is in line with Ethiopia's homegrown economic reform agenda.

Source: Ethiopian News September 07, 2020 13:07 UTC