Ethiopia is set to privatize 10 different state owned enterprises during the current fiscal year. Hilton hotel is among one of these companies. Other notable enterprises are Assela Malt Factory and the National Alcohol Factory.

The Ministry has announced that it will start asset valuation of Hilton soon. Most of the time asset valuations of enterprises under the ministry would be undertaken by experts from the Ministry, Asebe Kebede, assistant director of corporate communications at the ministry, explained.

However, the Ministry is considering to outsource the asset valuation when it comes to Hilton, Asebe noted. Once the evaluation is over, the hotel will be up for auction.

The Ministry intends to transfer its shares in BM Textile and Garment S.C., Africa Tibila Juice S.C., Abiyata Shala Soda Ash S.C. and the Ethiopian Crown Cork and Can Manufacturing Industry S.C. (ECCCMI).

Abaya and Arba Minch farms are among the other enterprises that the government intends to transfer to private investors. After failing to attract any investor, the 2 enterprises are now leased out. According to Asebe, the current investors will be given priority to fully acquire the farms.

Regarding Abaya and Arba Minch farms, the government is looking for joint venture development with the private sector.

Source: The Reporter