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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
The Ethiopian Government has increased the stake from 40% to 45% that it plans to sell in Ethio Telecom. In a request for proposals, the Ministry of Finance stated that it would sell up to 45% of the equity share capital of the Company as part of its Partial Privatization of Ethio Telecom.
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Request for Proposal Deadline
However, the Government has given interested parties until February 23 – Thursday of next week – to submit proposals, and prospective investors can get information from the Ministry by paying a non-refundable fee of USD 20,000 (RFP fees). Investors are encouraged to “add value to the company by bringing in best practices in terms of operations, infrastructure management, and next-generation technological capabilities”.
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Frehiwot Tamru, CEO Ethio Telecom, said, despite competition from Safaricom Ethiopia, she aims to grow the Company’s subscriber base by more than 10% during the following year. The target is 71 million mobile voice consumers, she added.
In November 2022, the Ministry said it planned to sell 40% when it revived the sale plan after an eight-month pause because of what it called “recent developments and fast-moving macroeconomic changes”.
There were service disruptions earlier in the telecom services. However, according to a January statement by Ethio Telecom, service has already been restored to 27 towns and cities since the ceasefire.
