Addis ababa: Prime Minister Abiy Ahmed has launched the sale of 10 percent of Ethio Telecom’s shares, marking a significant move towards enhancing the competitiveness of the company and opening investment opportunities for Ethiopians globally.
According to Ethiopian News Agency, the sale was announced following the government’s decision to privatize a portion of Africa’s oldest telecom operator, which has been operational for 130 years. This strategic sale involves 100 million ordinary shares, available via the telebirr SuperApp platform. The share pricing is designed to be inclusive, with the minimum set at 9,900 Birr for 33 shares, and the maximum at 999,900 Birr for 3,333 shares.
During the official launch, Prime Minister Abiy emphasized the importance of this initiative, urging all Ethiopians to engage in this unique opportunity to invest in one of the country’s largest institutions. He highlighted that this day represents a crucial milestone in Ethiopia’s transition from political upheaval to economic
evolution over the last six years.
The initiative is not only about enhancing Ethio Telecom’s market stance but is also pivotal in laying the foundation for Ethiopia’s future stock market. The transition of Ethio Telecom into a share company is a step towards broadening domestic ownership and bolstering the enterprise’s ongoing growth.
