Ethiopian Telecom will become the first company to be listed on the Ethiopian Stock Exchange (ESX) when the country’s new stock exchange opens next week.
The establishment of state enterprises in the private sector and businesses is part of Prime Minister Abiy Ahmed’s effort to open up the country to attract more private sector.
There are companies listed on the stock exchange in Ethiopia, but the business is currently limited to trading on the stock exchange.
10 Percent Ethiopia Telecom is also the first step in the government’s decision to increase the 45 per cent ownership of the telecommunications company to investors.
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In September, Ethiopian Telecom CEO Frehiwot Tamru said the telecommunications company aims to achieve 75% growth next year by improving existing services, introducing new products and expanding the market by solving copycat problems.
ESX’s long-awaited period has generated significant profits among investors, exceeding April’s profit of over 200%. The exchange aims to list the first batch of 50 companies as China raises investment capital.
In September, Ethiopian Telecom CEO Frehiwot Tamru said the telecommunications company aims to achieve 75% growth next year by improving existing services, introducing new products and expanding the market by solving copycat problems.
ESX’s long-awaited period has generated significant profits among investors, exceeding April’s profit of over 200%. The exchange aims to list the first batch of 50 companies as China raises investment capital.
