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.

[ssba-buttons]

Radar

New Directive Tightens Rules for Foreign Employment Agencies

The Ministry of Labour & Skills has issued a directive under the Ethiopian foreign employment framework, setting clear standards for agency size, capital, and operations. Depending on their level, newly established agencies can serve between 10 and over 100 workers a day. Office space requirements range from 100sqm to 700sqm, tied to operational scale. Level-one agencies must hold a paid-up capital of 20 million Br and place a security deposit of 250,000 dollars or its birr equivalent...


Radar

Audit Findings Expose Deepening Gaps in Accountability

A new study reveals that audit irregularities in Ethiopia have continued to rise year after year, driven by weak enforcement and unresolved legacy problems. The finding, commissioned by the Office of the Federal Auditor General (OFAG) and conducted by independent researchers from Addis Abeba University, examined audit reports covering 2009–2023. The study attributes the persistent irregularities to limited accountability, poor follow-up, and reduced audit coverage during political transitio...


Radar

Africa Maritime Conference Sets Sights on Seafaring Innovation

The Ministry of Transport & Logistics has launched the first-ever Africa Maritime Conference, marking a bold move to position landlocked Ethiopia as a continental hub for seafaring innovation at a time of global talent shortages. At a pre-conference briefing, Frans Joubert, CEO of YCF Manning Ltd, underscored Africa's untapped potential in the maritime sector. Of the 1.9 million seafarers worldwide, only four percent are African—despite the continent hosting around 150 maritime academie...