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Gulf Today Report
Ethiopia to sell 45% stake in its Ethio Telecom monopoly said a spokesman for the minister of finance.
This is in line with the government vision to liberalize the country’s economy, in spite of the armed conflict in the northern part of the country.
The telecommunication sector is regarded as the country’s biggest prize due to how much the market of around 100 million consumers is guarded.
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Brook Taye, adviser at the ministry of finance said, “It is 40% to all interested bidders and 5% will be dedicated to Ethiopians. The 55% will remain with the government of Ethiopia.”
The sale is expected to take nine months, the government will also be issuing tenders for operating licences in December.
Ethiopia plans to plant a mind-boggling four billion trees by October, as part of a global movement to restore forests to help fight climate change and protect resources.
Ethiopia's clothes factory workers, producing items for top fashion brands including Guess, H&M and Calvin Klein, are the worst paid in the world, earning only $26 (23 euros) a month, a report said Tuesday.
Boeing Co said on Wednesday it will dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide payments to families of those killed, with compensation expert Ken Feinberg hired by the world’s largest plane maker to oversee the distribution.
The latest unrest in the Horn of Africa nation flared on Saturday afternoon in Amhara, one of nine autonomous regions, when a "hit squad" attacked a meeting of top officials.
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