Prime Minister Unveils Plans to IPO 10pc of Telco in Capital Market

Feb 21 , 2024

Prime Minister Abiy Ahmed (PhD) advances his administration's policy to introduce initial public offering (IPO) for 10pc of the state-owned telecom operator through the impending capital market.

The announcement came during a board meeting with senior executives of the Ethiopian Investment Holdings yesterday, where Frehiwot Tamiru, CEO of Ethio telecom was present. The executives discussed on approaches to integrating it into the capital market.

Brook Taye (PhD), the director-general of the Ethiopian Capital Market Authority (ECMA), presented a progress report and outlined future plans. The move marks a significant step towards privatisation and public involvement in one of Ethiopia's highly valued stateowned assets, while the administration's decision is expected to have far-reaching implications closely monitored by investors and industry experts.

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Prime Minister Unveils Plans to IPO 10pc of Telco in Capital Market

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