This archive report was first published on 3 October 2019.
On October 3, 2019, Ethiopia took a significant step towards privatizing its state-owned telecom company, Ethio telecom. The country appointed KPMG as its privatization adviser to guide the process.
Finance Minister Eyob Tolina revealed that the firm had been appointed to oversee the privatization, with the government still holding a majority stake in the communications firm. However, the exact percentage of government ownership remains unclear.
As part of its efforts to open up its telecom market, Ethiopia plans to award two telecom licenses to multinationals. This move is part of the country's broader efforts to liberalize its telecommunications sector.
Recently, Ethio telecom launched mobile money services to Ethiopia's 100 million population, and the government has also opened up the mobile money sector to businesses in the country.
