Addis Ababa – April 25, 2025 (ABN)
Ethio Telecom’s partial privatization effort has resulted in 47,377 investors purchasing a 10.7% stake in the company over the course of 121 days, CEO Frehiwot Tamiru announced today during a press briefing at the Sky Light Hotel.
While describing the turnout as “acceptable but not highly impressive,” Frehiwot emphasized that the sale was part of broader efforts to increase public awareness and strengthen engagement with the media and stakeholders.
The CEO noted that only individual investors were allowed to participate in this initial phase, excluding institutional buyers and the Ethiopian diaspora.
“We restricted the sale to individuals for evaluation purposes, but institutions have shown strong interest,” Frehiwot said. “Diaspora Ethiopians were not included due to government assessment requirements.”
She added that share prices were kept affordable to encourage broader public participation, aligning with the government’s goal of inclusivity.
Macroeconomic Challenges Impact Process: Frehiwot acknowledged that recent macroeconomic policy reforms had affected the share sale process but assured that Ethio Telecom is working to adapt and meet its deadlines.
Employee Share Program Yet to Begin: When asked about employee participation, the CEO clarified that a special share offering for Ethio Telecom staff has not yet started.
The company plans to evaluate the first phase before expanding share ownership to institutions and possibly the diaspora in future rounds.
Ethio Telecom’s partial privatization is a key part of Ethiopia’s economic reform agenda, aiming to modernize the telecom sector and attract further investment.
