Ministry of Finance issued an invitation for expression of interest today to partially privatize Ethio Telecom. The company which will win the bid will own 40% of the equity share capital of Ethio Telecom and join the Ethiopian telecom market alongside Ethio Telecom and Safaricom.

The partial privatization advertisement posted on the website of Ministry of Finance states that the expression of interest could be submitted until 20 December 2022. Deloitte Consulting Limited is appointed as transaction advisor by the Ministry for advising on the privatization process. The advertisement and the invitation for expression of interest can be accessed here.

It is to be recalled that the Ethiopian Government postponed its plan to launch a tendering process to partially privatize the State owned telecom company in March this year citing prevailing local and international economic environment.

Source: Ministry of Finance

Additional source: Reuters