Ethiopia invites telecom companies to privatize ethiotelecom

Investment

Ethiopia announced today the release of an Expression of Interest (EOI) to partially privatize Ethiotelecom.

This was disclosed during a press conference organized by Ministry of Finance and Public Enterprises Holding and Administration Agency on the completion of a key milestone in partial privatization of the Etho-Telecom.



Deputy Director General System Design at Public Enterprises Holding and Administration Agency (PEHAA), Zinabu Yirga said following the announcement of the privatization process that started in 2018, the government is now ready to release an EOI for the sale of a 40 percent stake in the Ehio-Telecom.

This has been done in line with the appointment of Deloitte as a lead transaction advisor, who is now on the final stage of completing the preparatory work which includes business plan, financial, legal and tax due diligence and business valuation following the global best practice, it was indicated.

Zinabu stated that the issuance of the EIO will be allowed the international investors to express interest in acquiring a stake in Ethio-Telecom within one month starting from tomorrow June 15, 20121.

After the issuance of the EOI, the process will follow with a Request for Proposal (RFP) and the timeline for the release of the RFP will be communicated in due course with the aim of completing the transaction in an efficient and streamlined manner, it was stated.



Furthermore, Deputy Director General underlined that the government wants   state-owned enterprises to be effective, competitive and productive.  Senior Advisor of Ministry of Finance, Brook Taye said the Expression of Interest (EOI) is open to all investors and operators interested to engage in the sector.

“We are expected many investors and operators participate in this EOI,” he stated. Source: (ENA)