In taking the privatization process further, the Ethiopian government has officially extended an offer to at least 12 global companies to submit financial and technical proposals in order to engage in the power production and operations.
The Budget and Finance Standing Committee of the House of People’s Representatives (HPR) urge the Ministry of Finance to speed up the privatization process of selected state-owned enterprises, up on hearing the nine-month performance report of some of the key economic issues of the country on Wednesday.
The Ministry of Finance has released initial documentation for the purpose of inviting local and international investors to express their interests in relation to the privatization of scores of sugar factories, both already commissioned and still under construction, The Reporter has learnt.
A team of 25 business delegates led by UK’s Trade Commissioner, Emma—Wade Smith, have met and discussed with more than seven-line ministries and government agencies looking to set foot in the newly rebranded Ethiopia, as the administration of Prime Minister Abiy Ahmed (PhD) introduces a wide raging of economic reforms including partial privatization of some of the biggest State Owned Enterprises (SoE) in Ethiopia.
The Government of Ethiopia, under the newly restructured Public Enterprises, Assets and Administration Agency (PEAAA), is weighing-up the possible merger of state-owned enterprises - that would not be privatized in a few years - to form a single entity and administered under a new management established as a holding company.
Following it landmark decision to continue its long-severed budgetary support for the Government of Ethiopia (GoE) in tune of USD 1.2 billion, the World Bank Group (WBG) is very optimistic in what it called a “structural reform process” the administration of Prime Minister Abiy Ahmed (PhD) is embarking up on to the point where it is convinced that the intentions of the GoE with regards to some of the key service sectors like telecom and logistics is to implement a concrete liberalization and opening up measures.
Several members of a high-level business delegation accompanying Prime Minister Theresa May to a number of African countries, including Kenya and South Africa have expressed the hope of integrating their expertise and services in the local banking industry.