borkenaFebruary 25,2019Ethiopia is planning to finalize privatization of the giant state-owned telecommunication corporation, EthioTelecom, by the end of the year, The Financial Times reported on Sunday citing Prime Minister Abiy Ahmed. The government expects to raise multi-billion dollar funds out of selling the country’s telecommunication, which was introduced to the country as early as 1894 under emperor Menelik II. According to Financial times, the government is selling only 49 percent of the stakes which means that it will have more than half of the share of the Ethio-Telecom. It has more than 60 million subscribers in a country of over 105 million people in the Horn of Africa. As well, you may get Ethiopia News by following us on twitter @zborkena

Source: Ethiopian News February 25, 2019 22:07 UTC