Government eyes Ethio Telecom stake sale next month

Government eyes Ethio Telecom stake sale next month

Ethiopia’s Ministry of Finance is reportedly looking to sell off a stake in state provider Ethio Telecom next month.

A report in New Business Ethiopia claims that the ministry revealed its timeframe for the sale at a consultation with potential bidders to discuss the impending auction process.

TeleGeography notes that the country’s government has previously confirmed its goal of selling holdings in the operator, which until recently held a monopoly in the market. A 40% stake will be made available for overseas investors with the government retaining a 55% stake.

Ethiopian Prime Minister Abiy Ahmed recently confirmed that the remaining 5% stake will be available for local investors.

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