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Ethiopia’s Government Sells Stake In State-Owned Ethio Telecom
In a historic move, the Ethiopian government has announced the sale of a stake in the state-owned telecommunications company, Ethio Telecom. This decision marks a significant shift in the country’s approach to privatization and signals a new era for the Ethiopian telecom industry.
Ethio Telecom has been a monopoly in the telecommunications sector for many years, providing mobile, internet, and landline services to the country’s population. With this stake sale, the government aims to attract foreign investment and introduce competition to the market, which is expected to improve the quality of services and drive innovation.
The privatization of Ethio Telecom is part of a broader economic reform agenda undertaken by Prime Minister Abiy Ahmed, who took office in 2018. Since then, Ethiopia has witnessed a series of reforms aimed at opening up the economy, including the liberalization of key sectors such as telecommunications and aviation.
The move to sell a stake in Ethio Telecom has been met with mixed reactions. Supporters see it as a positive step towards modernizing the sector and attracting investment, while critics raise concerns about potential job losses and the impact on consumers.
As Ethiopia moves towards privatizing its state-owned enterprises, the sale of Ethio Telecom’s stake is seen as a significant milestone in the country’s economic transformation. It remains to be seen how this move will impact the telecommunications industry and the broader economy in the years to come.
For more information, visit the official website of Ethio Telecom.
