Privatisation Bill Reaches Legislators

Dec 21 , 2019


A new bill that will gear up the privatisation process of public enterprises has been tabled to parliament. If legislated, the proclamation will replace the existing two-decade-old law. The existing law indicates that a privatisation process will be made within the mandates of the Public Enterprise Holding & Administration Agency. The revised draft recognises the Council of Ministers and the Ministry of Finance as stakeholders in the process. The Council of Ministers will determine which enterprises will be privatised and approve their transfer to the Agency. The Council also approves the use and structure of golden share vote and veto rights for any decision deemed against the public interest. The Ministry of Finance will conduct the valuation of the assets and share values of the public enterprise under consideration and decide on the floor price for the transaction. The transactions can be made through a competitive tender, a public auction or an initial public offering (IPO) on a stock exchange or another suitable trading platform. The revised draft proclamation also requires the revenue from privatisation to be deposited in a special account designated for the Industrial Development Fund administered by the Ministry of Finance after the associated costs for the transaction are duly deducted.


Radar

BRIDG-EATERIA

They say, "Where there is traffic, there is business." It reflects the colour of Addis Abeba roads and roundabouts. Around Bole, commonly known as the Ring Road, vendors serve tea and snacks underneath a bridge. Owing to these selling methods allow pedestrians and drivers to get the service they need while walking and driving. Despite that, such practice has become a frequent encounter in the heart of the city streets. The most common purpose of a ring road is to reduce traffic volumes in the ur...


Radar

WALKWAY DISPLAY

Pedestrian walkways around Addis Abeba are growing smaller by the day, competing to gain a foothold in the public spaces. The city, which prides itself as Africa's political and diplomatic capital, becomes a showcase of contrast. Beauty and affluence wrestle destitution and poverty to claim space. Vendors have displayed their second-hand outfits, shoes and luggage for sale on a roundabout in front of the Ministry of Education, up at the Arat Kilo area...


Radar

TRAILER HOMES

Retired city buses were once converted to bakery outlets retailing bread supplied by ‘Sheger Bakery' during their twilight zone. The city administration had used Anbessa City buses as its retail shops before formal outlets replaced them. Sheger Bakery, touted as the largest bakery and flour factory with the potential of baking two million loaves of bread daily, was to cater for millions of people in Addis Abeba with a subsidized bread supply but failed to live up to expectations. The old city...