New Business Ethiopia

The Ministry of Finance of Ethiopia said it has suspended the partial privatization of the fully state owned Africa’s most profitable aviation group – Ethiopian Airlines.

The Ministry of Finance of Ethiopia today indicated next month it will invite international telecom operators to bid to buy 40 percent Ethio Telecom share and compete for two more telecommunication licenses.

The Government of Ethiopia announced its plan to sell five percent of the share of the fully state owned and only telecom operator in the country, Ethio Telecom.

By retaining 60 percent, the Government of Ethiopia is set to sell 40% of Ethio Telecom ending the state’s monopoly of the sector for about a century.

Prime Minster Abiy Ahmed of Ethiopia, who was in a two – day’s state visit in South Africa invited South African businesses to invest in his planned privatization of state enterprises.

The recently established Ethiopian Communications Authority (ECA) today host a consultation meeting on Ethiopian telecommunication reform process and regulatory framework with potential investors gathered from different parts of the world.

Ethiopia Airlines Group generates total revenue of 114.6 billion birr (about $4.2 billion) during the Ethiopia fiscal year concluded July 7, 2019.

Intellectuals and business leaders gathered in Addis Ababa this morning debate about the benefits of Ethiopia’s “urgency” to privatize the state owned mega enterprises such as Ethio Telecom and Ethiopia Airlines among others.