Ministry of Public Enterprises is set to privatize 4 public enterprises operating in Ethiopia: Bahir Dar Textile S.C., Kombolcha Textile S.C., National Tobacco Enterprise S.C. and Ethiopian Crown Cork and Can Manufacturing Industry S.C.

According to The Reporter, currently the government owns 78 percent of National Tobacco while the rest is owned by a Yemeni company, Sheba Investment Plc. The Ministry has now floated 40 percent of its stake, while intending to control the remaining 38 percent.

With regards to the two textile factories, the government is privatizing them via negotiated acquisition. Even if it the two factories has been floated for privatization on many occasions, they have failed to attract buyers in the past.

The same is true with Ethiopian Crown Cork and Can. Even if it was floated for privatization a year ago, it only managed to have the interest of Fairfax Africa Fund. Currently, the government owns 75 percent of the manufacturing enterprise.

Source: The Reporter