Ethiopia Opens Up To Foreign Investors

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The Ethiopian government has decided to open up the state-owned airline and telecommunications company to foreign investors for the first time ever. Minority stakes would be sold to foreign and domestic investors in state monopolies such as the Ethiopian Shipping & Logistics Services Enterprise, Ethio Telecom, Ethiopian Airlines Enterprise, the continent’s biggest airline, and Ethiopian News Agency.

This shows that new Prime Minister, Abiy Ahmed, may accommodate interests from other countries as time goes on. Major telecoms companies in Africa such as MTN Group Ltd. and Vodacom Group Ltd. have long desired to extend their services to Ethiopia. The government has been firm about keeping its industries in-house, but there are indications that it’s opening up to the world since Abiy came to power this year.