Stake in Ethio Telecom to be auctioned next month?

24 Sep 2020

Ethiopia’s Ministry of Finance (MoF) has indicated that it will auction off stake in the country’s monopoly telecoms provider, Ethio Telecom, next month. According to New Business Ethiopia, the timetable for the sale of the 40% shareholding in the telco was said to have been revealed at a consultation conducted between the MoF and interested parties regarding the bidding process, which was held as part of preparations for the divestment.

As previously reported by CommsUpdate, earlier this month it was reported Prime Minister Abiy Ahmed had confirmed that a 5% stake in Ethio Telecom is to be offered to local investors, with the state to retain a 55% holding in the telco as part of the privatisation process, with the remainder (40%) to be offered to international investors.

Ethiopia, Ethio Telecom