Ethiopia to sell 40 percent of Ethio Telecom – Minister

Ethio Telecom
May 21, 2020

ADDIS ABABA, May 21 (Reuters) – The Ethiopian government will sell a 40 percent stake in Ethio Telecom, a monopoly operator, as part of the country’s plans for opening one of the world’s last major closed telecoms markets, State Minister of Finance Eyob Tekalign Tolina told Reuters.

Two government officials briefed on the matter said foreign firms will be invited to bid and a percentage of the minority stake will be sold to “the people”, meaning Ethiopian citizens.

The government will retain ownership of the remaining 60 percent.