The Ethiopian Privatization and Public Enterprises Supervising Agency is to put six publicly owned enterprises as part of its aim to raise 1 billion birr this financial year by privatizing state owned enterprises to private investors.
The six companies being put up for privatization are the Arbagugu Coffee Plantation, Awash Wine Share Co, Bilito Siraro, Commercial Printing Enterprise, Construction Works and Coffee Technology Development Enterprise, and Hamaressa Edible Oil Share Co according to Wondafrash Assefa, Spokesman for the PPESA.
Investors can bid for the six companies until the 20th of December he noted. The plan is to privatize all publicly owned enterprises except those regarded to be strategic he said.
The current round of privatization is planned to contribute to the financing of the five year growth plan which calls for the nation to spend 144 billion birr this financial year in the housing, transport and energy sectors.It is to be remembered that Diageo plc bought Meta Abo Brewery and Heineken NV purchased Harar and Bedele breweries for a total price tag of 485 million US dollars in the last year.
The agency also plans to re-offer five businesses including Upper Awash Agro-Industry which had received a successful bid from Saudi Billionaire Mohamed al-Amoudi last year said Wondafrash. Al Amoudi’s company MIDROC is yet to pay for the company and the enterprise is waiting on a decision from the board to cancel the bid held last year he explained.
Source: Bloomberg
