Ethiopia’s state-owned telecommunications company will be the first of four companies to be privatized, The finance ministry revealed to journalists on Wednesday.
The communications director in the ministry of finance, Haji Ebsa said the government will give priority to the partial privatisation of Ethio Telecom as a way of setting standards of how the rest shall be privatized.
The decision to liberalize the economy through privatization 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. Which has not been the case before, but it shall be a learning process for the regulators and government scrutinizing each investor on their merits and benefit to the Ethiopian people.