Ethiopia’s Ministry of Public Enterprises (MoPE) disclosed it plans to earn 52.39 billion Birr during the current fiscal year from enterprises it administers.

Out of the planned revenue, 4.5 billion Birr is going to be generated from sales of goods and services produced by the public enterprises. 3.7 billion Birr, on the other hand, is going to be generated from enterprises that are privatized. On the other hand, the Ministry will facilitate the investment of 750 million Birr by the enterprises it had privatized earlier.

Another revenue source is going to be privatizing 10 enterprises administered by the Ministry. This includes Hilton Addis, Assela Malt Factory and the National Alcohol Factory. Government shares in BM Textile and Garment SC, Africa Tibila Juice SC, Abiyata Shala Soda Ash SC and the Ethiopian Crown Cork and Can Manufacturing Industry SC (ECCCMI) will also be privatized.

Other companies MoPE intends to privatize includes Abaya and Arba Minch farms. The plan for Ethiopia Pulp and Paper SC and the Arjo Dedessa Sugar Factory is to develop them in joint venture with private investors.

Source: The Reporter