French telecoms giant Orange Group has submitted an expression of interest to participate in the ongoing partial privatisation of Ethiopia’s state owned Ethio Telecom firm.
This was said by Ethiopia’s ambassador to Paris, Henok Teferra Shawl in a tweet where he stated that Orange had “formally submitted interest to participate in the partial privatisation of Ethio Telecom.”
As previously reported on TechMetro Africa, in June, Ethiopia launched a tendering process for the proposed sell-off of a 40% stake in the state-owned carrier Ethio Telecom to private investors as part of the government’s broader plan to open up the telecoms sector in the Horn of Africa country.
The telecoms business in Ethiopia, a country with a population of more than 100 million people and one of the region’s biggest economies, is considered lucrative and is expected to draw significant investor interest.
As part of the process to open up the telecoms sector, in May the Ethiopian government handed out the first foreign private operator licence to a consortium led by Kenya’s Safaricom, Vodacom, Vodafone, and Japan’s Sumitomo.
Ethio Telecom reported an 18.4% rise in full-year revenue to end-June to 56.5 billion birr ($1.29 billion).