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Aug 03, 2018

Advisory Council on Privatization of State-owned Companies Established

The Prime Minister of Ethiopia has set up in August 2018 an Advisory Council, which oversees the process of privatizing large state-owned enterprises. The establishment of the Council aims to implement the decision of the Executive Committee of the ruling party, EPRDF in June 2018 to open major state-owned enterprises for private and foreign investors. The decision includes to partially or fully transferring the shares of companies such as railways, industrial parks, hotels, sugar and manufacturing industries. The Committee also decided to sell minority shareholdings in some other state companies, including Ethiopian Airlines, Ethio Telecom (the only telecommunication service provider in the country), as well as the Ethiopian Shipping & Logistics Services Enterprise.

Type: Entry and establishment (Ownership and control)

Industry: Not industry specific