Ethiopia’s Ministry of Finance (MoF) has announced that the partial privatisation of the country’s monopoly telecoms provider, Ethio Telecom, has been postponed. In a press release regarding the matter, the MoF said that the decision to press pause on the process had been taken ‘given the recent developments and fast-moving macroeconomic changes both globally and from a country perspective’.
As previously reported by CommsUpdate, in September 2021 the MoF published a request for proposal (RFP) for the partial privatisation Ethio Telecom. Having laid out the framework under the Public Enterprises Privatisation Proclamation No.1206/2020, the government confirmed in its RFP that it was proposing to sell 40% of the equity share capital of the telco.
According to the ministry, despite postponing the stake sale it remains committed to finalising the privatisation process and has said it plans to reengage with both those companies that had responded to its RFP, as well as newly-interested parties, ‘in due course’.