FORTUNE+ VIDEO JOBS SPONSORED CONTENTS FORTUNE AUDIO TRADE AFRICA new

COVID-19 UPDATES: All the stories and commentaries on Coronavirus, in one place
We thank INTERNEWS for collaborating with us on this project.


Global Firms Eying Contract to Advise Govt on Telecom Partial Privitisation

Ernst & Young (EY) has placed lowest offer

June 17 , 2020

Four global consulting firms have appeared yesterday offering their service and expertise to advise on the partial privitisation of the state-owned Ethio telecom. Ernst & Young (EY) has made the lowest offer, bidding against Deloitte, PwC and Ronald Berger.

Issued by the Ministry of Finance in October of last year, the bid had initially drawn the attention of five companies: Roland Berger, PwC, KPMG, EY and Deloitte. KPMG was disqualified due to conflict of interest that could arise following its ongoing contract with Ethio telecom in conducting the asset valuation, according to officials undertaking the bid process.

The firm to be awarded will have the job of preparing the the bid documents for the partial privatisation, reviewing the initial determination of the minimum value, and undertaking legal due diligence including taxes, contracts and liabilities.

The Ethiopian government has decided to divest 45pc of the company for privatisation, keeping 55pc under state ownership. Five percent will be availed for public subscription.

Put your comments here


Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Innovative Deposit Mobilisation Strategies Key to Getting Liquid

Usually, significant investments are facilitated through financial institutions like...

COVID-19 Induced Public Debt Trap: Opportunity to Reset

The COVID-19 induced economic crisis has kept heads of States and their Finance minis...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country’s most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or tw...

Editorial

Political Settlement the Way Forward to Overcome the Deadly Impass

October 16 , 2021

For many, the past rainy season was a critical moment in the life of the nation. One...

Governance Nitty-Gritty Requires Effort Beyond the Aesthetic

October 9 , 2021

Public offices have been having a field day in the past few years. From the Prime Min...

Ethiopianism: What Does It Demand, Endure, and Tolerate?

October 2 , 2021

Ethiopia`s Parliament will pick up a Prime Minister on Monday, October 4, 2021. The i...

Past Current Turmoil, What Ails Next Generations?

September 26 , 2021

There are two editions of The Economist on Africa influenced by the narrative on the...

Gallery

Parliament Approves New Cabinet Members

October 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

January 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

September 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

December 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

April 26 , 2019

Sunday With Eden

When the Going Gets Tough, Flee

It is getting to a time when we start to consider conflict, death, displacement, homelessness, and hunger as normal aspects of being Ethiopi...

Young Peacemakers Assemble as the Elderly Fail Their Communities

Ethiopia is experiencing a nationwide social crisis unlike any other the young generation has seen before...

Life Matters

Sugary Terms of Endearment

Wherever I go, I see a bunch of people sitting outside of a restaurant chattering loudly over tre siga(raw meat) or tibs (stir-fried beef) a...

Make Tibs, Not Minced Meat

We have all heard it said, “looks can be deceiving,” which is often used to refer to something that seems good on the outside but does n...

Drop us a message

Or see contact page