Ethiopia has appointed a privatization adviser to handle preparations for the Ethio telecom’s privatization. According to Reuters, the country is still searching for another adviser to oversee the licensing of other telecom firms seeking to enter the Ethiopian market.
Finance Minister Eyob Tolina revealed that the firm had appointed KPMG to guide the privatization process. While it is clear that the government will still hold a majority stake in the communications firm, the exact percentage remains hidden.
Ethiopia plans to award two telecom licenses to multinationals as the country opens up its Telecom Market.
In the recent past, the country has made significant moves in its Telecommunication sector. For instance, Ethio recently launched mobile money to Ethiopia’s 100 million population. Moreover, the government recently opened up the mobile money sector to businesses in the country.