Ethio Telecom Share Sale Paves Way for Ethiopian Investors, Declares PM Abiy

**Addis Ababa —** In a landmark move for Ethiopia's telecommunications sector, Prime Minister Abiy Ahmed officially launched the sale of 10 percent of Ethio Telecom's shares, a strategic initiative aimed at enhancing the company's competitiveness while also empowering Ethiopian citizens to invest in one of the nation’s most vital state-owned enterprises.

Ethio Telecom has been a cornerstone of Ethiopia's development for over 130 years, playing a crucial role in providing telecommunications services across the country. This latest initiative marks a pivotal moment in the company’s evolution, transitioning from a state-owned monopoly to a share company, thus enabling a broader range of investment opportunities for the Ethiopian populace.

During the launch ceremony, Prime Minister Abiy emphasized the significance of this share sale, highlighting its potential to attract local and diaspora investments. "The sale of 10 percent of Ethio Telecom's shares not only improves the company's competitiveness but also opens a new chapter for many Ethiopians to invest in their country from wherever they are," he stated, encouraging citizens to seize this unique opportunity.

The government has made extensive preparations for the share sale, making 100 million ordinary shares available to the public through the innovative telebirr SuperApp platform. This digital platform is designed to facilitate seamless access to the shares, allowing individuals to invest conveniently from their mobile devices. To promote inclusivity, the government has set a minimum purchase price of 9,900 Birr (approximately 33 shares) and a maximum price of 999,900 Birr (around 3,333 shares), ensuring that a wide demographic can participate in this investment opportunity.

Prime Minister Abiy called upon all Ethiopians to embrace this chance to become shareholders in Ethio Telecom, urging them to support the company’s continued growth. He remarked, "Today marks a significant milestone as we launch the sale of Ethio Telecom shares, an essential step in our ongoing journey from political revolution to evolution over the past six years."

This move is part of a broader strategy to liberalize Ethiopia's economy, particularly its telecommunications sector, which has been historically dominated by state control. By allowing citizens to invest, the government aims to foster a sense of ownership and responsibility, encouraging public engagement in the growth and development of the sector.

The Prime Minister also noted that this initiative lays the groundwork for the establishment of Ethiopia's stock market, a crucial development that could significantly enhance the country's economic landscape. By transforming Ethio Telecom into a publicly traded entity, the government is not only promoting economic reform but also creating an environment conducive to investment and innovation.

As Ethio Telecom continues to play a pivotal role in connecting Ethiopians and driving economic growth, the share sale is expected to inject much-needed capital into the company, allowing it to enhance its infrastructure, improve service delivery, and expand its offerings. This, in turn, could lead to increased competition within the telecommunications sector, benefiting consumers through improved services and potentially lower prices.

Overall, the sale of Ethio Telecom shares represents a transformative step for Ethiopia, symbolizing a shift towards greater public participation in the economy and promoting a culture of investment among its citizens. As Ethiopians embrace this opportunity, the government hopes to stimulate broader economic growth, increase technological innovation, and enhance the overall quality of life in the country. The initiative is poised to not only empower individuals but also contribute to the nation’s long-term socio-economic development, aligning with Ethiopia's aspirations for a prosperous and inclusive future.