info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
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With a population of more than 100 million, Ethiopia has been one of the fastest growing economies in Africa for many years. According to reports, the government hopes to stimulate national development and economic growth by attracting more foreign direct investment.
The government is now realizing that its power and capacity in developing the economy is not such strong, hence, the move will help the nation to achieve long- sought economic transformation -- from an agriculture-intensive economy to a more industrialized and knowledge-based economy one.
According to the EPRDF's executive committee statement on June 5, 2018, foreign investors can buy minority stake in Ethiopian Airlines, Electric Power generation projects and the Ethiopian Shipping and Logistics Services Enterprises and Ethio- telecom.
The state-owned telecommunications corporation, Ethio Telecom, took a major step forward in its much-anticipated privatization by pre-selecting six consultancies in partnership with the World Bank. It will be split into two businesses, offering tremendous growth potential to new entrants.
The communications director in the country's Ministry of Finance, Haji Ebsa, said last week that the government will give priority to the partial privatizxiangguation of Ethio Telecom as it considers the best approach for the entire process. While majority stakes will be held by the state, shares in the corporations will be sold to investors.
