Ethiopia’s Ministry of Finance invited proposals from parties interested in buying a 40 per cent of state-owned mobile operator Ethio Telecom, as the country continued efforts to boost its communications industry.
In a statement, the government department explained it was looking for investors capable of adding value in areas including operations, infrastructure management and next-generation technology capabilities.
No price guide for the minority stake was cited in the release, though it is asking for $20,000 from interested parties to receive a copy of the request for proposal document detailing what is being offered and associated terms.
Interested parties also have to sign a confidentiality agreement.
The ministry added Ethio Telecom had robust infrastructure and a strong financial performance which offers a “significant competitive advantage to any investor”.
Sale of the stake in the only operator currently offering services comes as part of a wider strategy designed to bring competition to the sector and improve accessibility to mobile services.
Simultaneously it prepared to sell the Ethio Telecom stake, asking for initial expressions of interest in June after shifting its original timeline due to the Covid-19 (coronavirus) pandemic.
As the processes progressed Ethio Telecom has been working to boost coverage and expand its offer.Subscribe to our daily newsletter Back