June 5, 2018 / 5:34 PM / 2 months ago

Ethiopia opens telecoms, national airline to private, foreign investors - ruling party

ADDIS ABABA, June 5 (Reuters) - Ethiopia’s ruling coalition announced on Tuesday that the state-run telecoms monopoly and state-owned Ethiopian Airlines will be opened to private domestic and foreign investment.

“In order to improve on the achievement of fast economic growh and boost exports, there is a need to take economic reforms. Hence ... while majority stakes will be held by the state, shares in Ethio Telecom, Ethiopian Airlines, Ethiopian Power, and the Maritime Transport and Logistics Corporation will be sold to both domestic and foreign investors,” a statement from the ruling EPRDF coalition said.

Reporting by Aaron Maasho; Editing by Adrian Croft

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