Government to sell 5% stake of Ethio telecom to Ethiopian citizens


Government officials and stakeholders discussed the telecom sector reform activities in the presence of Prime Minister Abiy Ahmed.
The discussion has been focused on the decision to partially privatize Ethio Telecom and attract more telecom corporations in to the country.
It is stated on the occasion that 40% stake of Ethio Telecom will be transferred to international companies while 5% stake is reserved to Ethiopian citizens based on the decision reached to partially privatize the company.
It is pointed out that the 5 % stake will not be monopolized by a few but to be shared by all citizens as per their potentials.
The government will continue holding remaining 55 % stake in Ethio Telecom.
In addition to partial transfer of the company, the government will issue licenses to two international telecom companies which have globally recognized reputation and experience in the sector and, are able to transfer technology.
Prime Minister Abiy Ahmed said the licensing and the partial transfer will be carried out free corruption based on ethics of professionalism so as to safeguard benefit of the nation.
The Premier further underscored the process of liberalizing the sector is free of policy pressure and based on the principles and directives of the country’s homegrown economic reforms.