Gov’t to privatize 40% of Ethio telecom

Ministry of Finance issued an invitation for expression of interest today to partially privatize Ethio Telecom. The company which will win the bid will own 40% of the equity share capital of Ethio Telecom and join the Ethiopian telecom market.
The partial privatization advertisement posted on the website of Ministry of Finance states that the expression of interest could be submitted until 20 December 2022. Deloitte Consulting Limited is appointed as transaction advisor by the Ministry for advising on the privatization process.
In a bid to identify the third telecommunication company that will join the two current active companies in Ethiopia, Ethio Telecom and Safaricom Ethiopia, the Ethiopian Communication Authority (ECA) will hold a consultation that will last from November 16 to December 16, 2022 on the website of the ECA.
It is recalled that the Ministry of Finance said it has decided to postpone its plan of partial privatization of the state-owned Ethio Telecom back in March 2022.
In its statement the Ministry indicated that “…given the recent developments and fast-moving macroeconomic changes both globally and a country perspective, the Government of Ethiopia has chosen to postpone the privatization process”.