Africa

Ethiopia opens Ethiopian airlines, telecoms, others, to private investors

Ethiopia has decided to loosen its govenment monopoly in the telecoms, airlines, electricity and logistics sectors.

The government said on Tuesday that “while majority stakes will be held by the state, shares in Ethio Telecom, Ethiopian Airlines, Ethiopian Power, and the Maritime Transport and Logistics Corporation will be sold to both domestic and foreign investors”.

The East African nation of 100 million people has one of the most closed and controlled economies in Africa. The ruling EPRDF coalition, in power since 1991, has long supported deep state involvement in the economy, Reuters reports.

The announcement is seen as a sign that Prime Minister Abiy Ahmed, who came to power in April, would implement real economic reforms having promised “new political begining”

The 41-year-old former army officer was appointed by the EPRDF after his predecessor, Hailemariam Desalegn, resigned in February after three years of unrest in which hundreds of people were killed by security forces.

 

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