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Ethiopia’s Finance Ministry said it suspended the partial privatization of Africa’s most profitable state-owned aviation group, Ethiopian Airlines.
This was stated by Ethiopian Finance Minister Ahmed Shide this afternoon at a press conference. “With monetary efficiency and competitiveness, the government’s plan is to strengthen Ethiopian airlines… We have decided to delay the partial privatization of Ethiopian Airlines,” he said, noting that Ethiopian Airlines is a profitable and well-managed state-owned company. even during the global coronavirus pandemic.
“Maintaining the current capacity of Ethiopian Airlines Group is more beneficial for the economy,” according to Minister Ahmed Shide, who mentioned the huge investments that Ethiopian Airlines Group has made in the expansion of airports, cargo services, hotels and catering services. Recently, Ethiopian Airlines Group has announced that it will profit from the coronavirus mainly from cargo services that convert around 25 aircraft into cargo.
The plan to partially privatize Ethiopian Airlines Group was announced a few years ago when the country suffered from severe financial liquidity and foreign exchange shortages.
In a related development, Minister Ahmed also indicated that in relation to the provision of dry port services, the Government of Ethiopia has partially opened its doors to foreign investors and the private sector for the first time to participate in the sector.
During the first quarter of Ethiopia’s current budget year as of July 8, 2020, the country has earned $ 499.5 million from the export of goods, according to Minister Ahmed. He also claimed that the country has also collected 80.8 billion Birr taxes in a three-month period.
