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ADDIS ABABA (Reuters) – Ethiopia plans to sell a 5% stake in its state telecommunications company to its citizens as part of measures to break the monopoly, state affiliate Fana Broadcasting said on Monday, citing Prime Minister Abiy Ahmed.
The sale of the stakes is part of Ethiopia’s plans to open one of the world’s last closed telecommunications markets in the nation of around 110 million people.
Fana said the government will retain a 55% stake in Ethio Telecom, with the rest going to international companies.
In June, the telecoms regulator said it had received 12 offers for the two telecom licenses the government plans to award to multinational companies.
The regulator has not set a deadline for awarding the licenses.
Report by Giulia Paravicini; Written by George Obulutsa; Edited by Toby Chopra
