Never miss a story

Get subscribed to our newsletter


×
FILE - A woman walks past an office of Ethio Telecom, a state monopoly, in Ethiopia's capital, Addis Ababa, Nov. 9, 2015. VOA

Ethiopia’s finance minister says the government is preparing to privatize some state-owned entities. However, the plan to sell off parts of the country’s once-guarded crown jewels is getting a mixed reaction.

At a corner of the Ethiopian Airlines complex in Addis Ababa sits a DC-3 jet, a constant reminder of the milestones that Africa’s most successful national carrier has made since its first international flight 73 years ago.


Now, the airline is seeking a partner as part of Prime Minister Abiy Ahmed’s plan to privatize some of the country’s state-owned entities.

Ethiopia’s Finance Minister Ahmed Shide explains.


The government is preparing to privatize some state-owned entities. Pixabay

“In the past, we have been actively involved in the economic affairs, but now we are rebalancing. We need to facilitate the sustainability of growth. We will first privatize four sectors: the telecom, aviation, energy and logistics, as well,” Shide said.

One of the crown jewels, state monopoly Ethio Telecom, has a customer base of 65 million people.

The finance minister says those numbers should be enough to whet any investor’s appetite.

“The most important incentive is the market potential itself. There is growing market potential in all areas, but we are also revising a lot of laws and procedures and customs as a way of ease of doing business,” Shide said.

Also Read- FAA Propose New Rules To Help Supersonic Flight

Some companies say the decision to open Ethiopia’s markets could not come at a better time. Daryl Wilson, managing director of East African Bottling Share Company, a subsidiary of Coca Cola, agrees.

“I think the opening up of the economy will bring up a whole lot of benefits, as well. Like one of the biggest challenges at the moment is access to foreign exchange and dollars. I think when it opens up — if it opens up, and how it opens up — it will be beneficial to all the players that operate within Ethiopia,” Wilson said.

Not everyone is convinced that privatization is the best path forward.

Getachew Alemu, an investments and development consultant based in Addis Ababa, says the country’s economic problems will not be solved through privatization.


One of the crown jewels, state monopoly Ethio Telecom, has a customer base of 65 million people. Pixabay

“There are serious concerns about the decision itself and the process by which it is being implemented, the pace of implementing the policy, as well as other related issues like accountability and transparency, and the future of these sectors,” he said.

Also Read- Here’s How Porn Ruins Women’s Intimate Experiences with Men

Alemu also said there needs to be a regulatory framework in place to ensure that shares of the state-owned enterprises are not sold for less than they are worth. (VOA)


Popular

IANS

Rihanna was summoned from her seat to accept the honour, with the Prime Minister.

Singer Rihanna was honoured by Prime Minister Mia Mottley at an event which marked Barbados's new status as a republic, which was attended by Prince Charles. Addressing the pop star by her real name, the PM said: "Robyn Rihanna Fenty tomorrow morning shall have conferred upon her the order of national hero of Barbados."

Rihanna was then summoned from her seat to accept the honor, with the Prime Minister managing to rouse a laugh from the singer when she referenced her 2012 hit 'Diamonds', reports femalefirst.co.uk. She added: "On behalf of a grateful nation, but an even prouder people, we therefore present to you, the designee, for the national hero of Barbados." "And to accept on behalf of a grateful nation - you can come my dear - ambassador Robyn Rihanna Fenty, may you continue to shine like a diamond and bring honor to your nation." Rihanna, who was born in the St Michael parish of Barbados, found fame in 2005 after being spotted by a record producer and has since gone on to become one of the most successful female artists of all time with sales of over 250 million and recently reached billionaire status through her Fenty beauty brand.

The Prime Minister continued in her speech: "Commanding the imagination of the world through the pursuit of excellence, her creativity, her discipline, and above all else, her extraordinary commitment to the land of her birth. "Having satisfied that, Ambassador Robyn Rihanna Fenty has given service to Barbados which has been exemplified by visionary and pioneering leadership, extraordinary achievement and the attaining of the highest excellence to the Government of Barbados." It comes after a historic move for Barbados, which has become a republic after almost 400 years and welcomes its first president, Sandra Mason, after removing Queen Elizabeth as head of state. (IANS/ MBI)


Keep Reading Show less
Pxhere

It's that time of the year when there are festivities galore and entertaining comes to the fore.

By Manav Bhatia

It's that time of the year when there are festivities galore and entertaining comes to the fore. Manav Bhatia, Founder Trunkin shares some tablescapes for the season

Christmas Tablescapes: Whether it's cherry red tablecloths or plush green napkin rings, there's something for everyone. Red and green are synonymous with colour themes this time of year.

red and white candles on white ceramic vase Red and green are synonymous with colour themes this time of year. | Photo by Libby Penner on Unsplash

Keep Reading Show less
VOA

Typically, Glaucoma occurs in people with over the age of 60 however it can occur at any age.

By IANSlife

Have you ever faced eye redness? Or have witnessed blurry or foggy vision? Or experiencing halos around lights? Or nausea and vomiting are very common for you. You may well be suffering from Glaucoma which needs immediate attention.

Glaucoma is the second most common causes of blindness worldwide, according to a report by World Health Organisation (WHO). Typically, it occurs in people with over the age of 60 however it can occur at any age. It is also estimated that globally 79.6 million people are affected with glaucoma, half of them being Asian population. While in India, around 11.9 million people suffer vision impairment and out of which 1.2 million cases are due to Glaucoma. It is a growing concern for the population in India. Even after these high numbers, the enormous majority remains undiagnosed, and untreated. More than 90 percent of cases of Glaucoma remain undiagnosed.

Pink eye Glaucoma is the second most common causes of blindness worldwide, according to a report by World Health Organisation (WHO). | Wikimedia Commons

Keep reading... Show less