Ethiopia: Govt, Sheba Investment Negotiate Tobacco Enterprise Acquisition

The government of Ethiopia is negotiating with representatives of Sheba Investment PLC - a company owned by foreign investors - for the full acquisition of the National Tobacco Enterprise SC, a legal tobacco monopoly in Ethiopia, The Reporter has learnt.

Currently, the state has 78 percent ownership right in the enterprise after it sold the remaining shares to foreign investors back in 1999. And it is these investors who are currently in Addis Ababa and are negotiating with the government to make the enterprise an entirely private entity.

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