Ethiopia to Partially Privatise Major SOEs

Ethio Telecom is one of the entities that may see more private investment.

Ethiopia is soon to partially privatise Ethio Telecom, Ethiopian Airlines, Ethiopian Shipping & Logistics Services Enterprise and the Ethiopian Electric Power Corporation. The list also includes state-owned railways, sugar factories, industrial parks, hotels and manufacturing companies.

The Executive Committee of the Ethiopian Peoples' Revolutionary Democratic Front (EPRDF) unanimously voted to partially privatise these enterprises last week after a two-day top-leadership meeting, which was the first since the premiership of Abiy Ahmed (PhD). However, the government will maintain a majority stake in the companies. Officials have indicated in the past that the government would look for alternative means of financing given debt that stands at over half of GDP and low tax revenue.

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