My Opinion | Jul 06,2019
Sep 14 , 2021
Ethiopia has made an offer for partial privatisation of the state-owned telecom monopoly, Ethio telecom. The Ministry of Finance has issued today an offer for prospective investors to acquire a 40pc stake in the company with over 56.2 million subscribers.
Prospective investors need to pay a non-refundable fee of 20,000 dollars (over 900,000 Br at the current exchange rate) to get the bid document. The government announced three months ago its resolve to pursue the partial privatisation of the state-owned telecom company, calling for an expression of interest (EOI). The French-based operator, Orange, was among the multinational companies that showed an interest.
This comes on the heels of liberalisation that ends telecom monopoly after the Ethiopian Communication Authority granted a telecom license to the Global Partnership for Ethiopia, a consortium of Safaricom, Vodafone, Vodacom, CDC Group Plc, and Sumitomo Corp. The consortium paid 850 million dollars for the license.
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