#Ethio Telecom to sell 5% stake to Ethiopian citizens🇪🇹🇪🇹H.W by @Hilinasolom

 Ethio Telecom to sell 5% stake to Ethiopian citizens

On Sep 7, 2020 

 The Prime Minister's Office held a discussion on telecommunications sector improvement.

The decision to partially privatize Ethio Telecom and bring in more telecom corporations was reviewed in the presence of Prime Minister Abiy Ahmed.

During the meeting, Ethio Telecom will transfer 40 percent of its shares to international companies.

 

It is said that 5% of the shares will be sold to Ethiopians.

It is pointed out that this 5 percent share is not owned by a few individuals but is shared by all citizens to the best of their ability.

The government will continue to hold the remaining 55 percent.

In addition to partially transferring Ethio Telecom's share to modernize the telecom sector in Ethiopia, it will also sell licenses to two new operators.

The two new operators are said to be world-renowned and experienced in technology transfer.

Prime Minister Abiy Ahmed said licensing and partial transfers will be carried out in a manner that is free of theft, professionalism and in the interest of the country.

He said the process of liberalizing the sector is free of policy pressures and will be based on the principles and guidelines proposed for domestic economic reform.

Via alazar tadele 

@Hilinasolom