Ethiopia to Pass Revised Federal Subsidy Budget
Ethiopia’s upper house, House of Federations (HoF), is expected to pass a revised federal subsidy budget allocation for states.
Ethiopia to Privatize 10 Enterprises this Year
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.
Ethiopia to Privatize 20 Public Companies in the Current Year
The Ethiopian Privatization and Public Enterprises Supervising Agency said that it intended privatization of 20 public enterprises in the current Ethiopian budget year according to an announcement made on 1st December.
The agency anticipates that it will earn more than 3.3 billion Birr from the privatization efforts planned for this year said Wondafrash Assefa Corporate Communication Director for the agency.
17 of the enterprises are expected to be sold directly in the privatization process said Wondafrash.
Ethiopia to Privatize 20 Public Enterprises
The Ethiopian Privatization and Public Enterprises Supervising Agency is planning to privatize 20 publicly owned enterprises in this fiscal year.
The agency is expecting to earn an estimated 3.3 billion birr from the privatization of the enterprises which are currently being owned by the state according to Wondafrash Assefa, Corporate Communications Director with PPESA.
PPESA earned almost 6.2 billion birr from the privatization of state owned property in the previous financial year said Wondafrash. The sale of Meta Abo factory to international beverage company Diageo contributed about three billion birr to the total revenue earned he added.
Ethiopia to Privatize 6 Public Enterprises
Ethiopia is to privatize six publicly owned enterprises including the Addis Ababa Ghion hotel according to the Privatization and Public Enterprises Supervisory Agency.
The other enterprises that have been made available for sale are Awash Winery, Coffee Technology Promotion, Batu Construction, Limu Agricultural Development and Batu Housing Construction.
PPESA plans to privatize 20 publicly owned enterprises in the 2012-13 financial as part of the plan of the Agency it announced.
Bahr Dar Textile, Bale Agricultural Development, Arsi Agricultural Development, Kombolcha Textile, Bekelcha, Comet and Woyra Transport companies are expected to be part of the 20 companies will be offered for auction this year.
