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The sale of a 10 percent stake will lead the way towards the government divesting a further 45 percent to investors. The operator currently has more than 78 million subscribers, and until October 2022 was the only operator in the country until Kenya-based Safaricom launched in the market.
Ethio Telecom will kick off its plans to sell a 10 percent stake next week. The planned sale comes ahead of the company’s listing on the country’s new stock exchange. The state-owned telco will become the first company to list on Ethiopia’s stock market.
From October 16, the public will be able to buy shares on Ethio Telecom’s mobile money platform, telebirr. Ethio Telecom announced the 10 percent stake sales will commence on Wednesday, October 16, 2024. Ethio, which is the incumbent telco in Ethiopia, has long sought private investment.
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The sale of a 10 percent stake will lead the way towards the government divesting a further 45 percent to investors. The operator currently has more than 78 million subscribers, and until October 2022 was the only operator in the country until Kenya-based Safaricom launched in the market.
