Ethiopia’s state-owned telecommunications company will be the first of four companies to be privatised, an official in the finance ministry told journalists yesterday.
The communications director in the ministry of finance, Haji Ebsa said the government will give priority to the partial privatisation of Ethio Telecom as it takes notes on the best approach to the process.
The decision to liberalise the economy and privatise state-owned companies in telecommunications, aviation and banking, is part of reforms championed by prime minister, Abiy Ahmed.
Government hopes to stimulate Ethiopia’s development and economic growth through attracting more Foreign Direct Investment (FDI).
Specifically, Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power are to be privatised.
Haji said technical and steering committees to drive this project have been established under the finance ministry, while a macro committee has been set up under the Office of the Prime Minister.