Ethiopia launches tender process to sell 40% stake in Ethio Telecom

Ethiopia on Monday launched a tendering process for the proposed sell-off of a 40% stake in state-owned carrier Ethio Telecom to private investors, part of the government's broader plan to open up the Horn of Africa country's economy. Interested investors can now submit so called expressions of interest (EOI), the first of a series of stages that will lead to picking of a successful bidder, Zinabu Yirga, Deputy Director of Public Enterprises Holding and Administration Agency told a press conference in the capital Addis Ababa. "The government want(s) state-owned enterprises to be competitive and productive," Zinabu said, explaining the authorities' motivation for selling a part of Ethio Telecom to private operators.



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