Ethiopia: Premier Calls On Ethiopians to Grab Ethio Telecom Shares

17 October 2024
The Ethiopian Herald (Addis Ababa)

- Prime Minister Abiy Ahmed (PhD) has called on Ethiopians to purchase shares of Ethio telecom, following the company's decision to offer 10% of its shares to Ethiopian citizens.

Speaking at a launch event yesterday, the Prime Minister emphasized that Ethio telecom, a profitable enterprise, is taking a major step by entering the stock market. He urged citizens to seize this unique opportunity as Ethiopia's stock market becomes increasingly active.

He highlighted the role of digital transformation initiatives in preparing the ground for this share sale and hinted at future opportunities in other sectors, including hotels.

The first phase of the sale begins today via TeleBirr, with shares priced at 300 Birr each. A minimum purchase of 33 shares is required, amounting to a 9,900 Birr investment.

Ethio telecom's CEO, Frehiwot Tamiru, announced that the company's total share value stands at 100 billion Birr, with 10% allocated for public sale until January 3, 2025. Individual investments range from 9,900 Birr for the minimum package (33 shares) to a maximum of 999,900 Birr for 3,333 shares.

Read the original article on Ethiopian Herald.

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