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Ethio Telecom hires KPMG to advise on sale of 45% stake Sign in with LinkedIn
28 January 2021 | Alan Burkitt-Gray Ethio Telecom, the monopoly provider in Ethiopia until two new operators are licensed in March, has hired KPMG to determine its economic value in advance of a part-privatisation.
The government of Ethiopia, despite its political, economic and military challenges, is moving ahead with a plan to sell 45% of the shares in the company. The Ministry of Finance has hired Deloitte Consulting as its adviser.
According to reports from Addis Ababa, 40% will be sold to foreign buyers and 5% to local investors in Ethiopia, with the state holding on to 55%.
Huawei Targets Ethiopia as Telecoms Industry Opens Up
By
(Bloomberg)
Huawei Technologies Corp. is positioning itself to get more business in Ethiopia, as the East African economy opens up its telecommunications sector.
“Ethiopia is rising and becoming much more important for the future,” Loise Tamalgo, Huawei’s head of public relations for 22 countries in sub-Saharan Africa, said in an interview in Ivory Coast’s commercial capital, Abidjan.
“Our strategy is very simple,” Tamalgo said. The company plans to leverage its position as a vendor of the state-owned monopoly Ethio Telecom to bid for opportunities in the country, he said.
Events that will shape 2021
Friday January 01 2021
By BD TEAM
Locals take over top EABL, BAT jobs
East African Breweries Limited (EABL) and British American Tobacco (BAT) will from January 1 be managed by new chief executives following the changes announced in December.
Jane Karuku will assume office as the new EABL group managing director while Crispin Achola will also start a similar role at BAT.
The changes come after the respective companies announced that the term of the current managing directors both being foreigners are expiring December 31.
In the last four and a half years Andrew Cowan has steered EABL while BAT was in the hands of Beverley Spencer-Obatoyinbo.