Ministry Calls for Partial Privatization of Ethiotelecom


Ministry Calls for Partial Privatization of Ethiotelecom

The partial privatization of Ethiotelecom is reinstated as the Ministry of Finance announced for Request for Proposal (RFP) last week. The Ministry announced a 45pc stake in the public enterprise would be availed to private investors, and a five percent stake to be floated to the general public. The Ministry floated a bid to call for expression of interest last November. According to officials, the call is open to interested parties, and not limited to companies that have already submitted an expression of interest. In 2019, Prime Minister Abiy Ahmed’s (PhD) administration decided to partially privatize state-owned enterprises. A year later, Deloitte was hired as an advisor for the denationalisation of the state-owned telecom at a cost of 3.78 million dollars sourced from the World Bank. Ethiotelecom bagged 33.8 billion Br in revenues, showing a 20pc increase compared to the same period of the previous year. The net profit has reached 8.18 billion Br in the first half year of 2022/23. It has garnered 31.3 million internet users from a 70 million total customer base, showing a growth rate of 15.1pc from last year.


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Coffee Exports Bring in 1.5B Br in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


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Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


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City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...