Ethiopia corporates privatization plans are on high gear as government releases the privatization timelines of state corporations.
Bloomberg reports that Ethiopia will first sell six of the sugar monopoly’s holdings and later on relieve seven more processing plants and plantations. In this case, the government anticipates that the new owners will boost production eventually, making Ethiopia a net sugar importer.
Furthermore, investors from ten countries have bid for the sugar assets with the first sale expected in June.
Additionally, the government plans to release 49% ownership in Ethio Telecom to improve the company’s offerings. Besides, Ethiopia will give two mobile and broadband licences as France’s Telkom, South Africa’s MTN, and Kenya’s Safaricom express interest.
Ethiopia’s huge population makes the telecoms industry lucrative with the new players expected to boost competition.
Moreover, the Ethiopian government may sell its stake in Ethiopian Railway Corporation that is the trains, stations, and tracks.