Ethiopian government was in the process of partially privatizing Ethio Telecom by selling 40% of the company’s equity share capital and a 5% equity stake to the public (local investors).
The government revealed in a press statement that the privatization of Ethio Telcom has been postponed for an undisclosed period of time, today.
According to press release, the Ethiopian government has decided to postpone the privatization process due to recent developments and fast-moving macroeconomic changes both worldwide and within the country.
“The Government of Ethiopia believes that taking time to accommodate the improved macroeconomic situation as well as continually improving financial performance of Etho Telecom will result in better value for all parties involved and in particular the citizens of Ethiopia”, noted on the statement.
Finally, the Ethiopian government declared that it is committed to completing the privatization process and that it looks forward to re-engaging with existing and new companies that have expressed interest in the RFP, which was released on September 21,2021.
The Ethiopian Government holds 100% stake in Ethio-Telecom.
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