https://en.sputniknews.africa/20241017/significant-milestone-ethiopian-pm-lauds-start-of-ethio-telecom-shares-sales-to-public-1068732740.html
'Significant Milestone': Ethiopian PM Lauds Start of Ethio Telecom Shares Sales to Public
'Significant Milestone': Ethiopian PM Lauds Start of Ethio Telecom Shares Sales to Public
Sputnik Africa
Ethiopia's macroeconomic committee met in early October to review the performance of the country's new economic reforms. The reforms, part of the Homegrown... 17.10.2024, Sputnik Africa
2024-10-17T17:46+0200
2024-10-17T17:46+0200
2024-10-17T18:26+0200
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State-owned Ethiopian company Ethio Telecom plans to offer 10% of its share to the public, the country's prime minister Abiy Ahmed Ali wrote on X, calling it "a significant milestone." He added that this decision contributes to the development of the Ethiopian stock market and expanding access to ownership in one of the nation’s leading state-owned enterprises.Ethiopian News Agency reported that the maximum price for shares is 999,900 Birr ($8.29 for 3,333 shares), at the same time, the minimum figure equals 9,900 Birr ($0.09 for 33 shares).Earlier, the Ethiopian Investment Commission reported that the country's Foreign Direct Investment rose by 12% during the first quarter of the current fiscal year compared to the similar period of the last year.Ethiopia implemented reforms to create a favorable business environment and attract both domestic and foreign investment, the Ethiopian News Agency reported last week, citing Deputy Commissioner at the Ethiopian Investment Commission Zeleke Temesgen.
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'Significant Milestone': Ethiopian PM Lauds Start of Ethio Telecom Shares Sales to Public
17:46 17.10.2024 (Updated: 18:26 17.10.2024) Ethiopia's macroeconomic committee met in early October to review the performance of the country's new economic reforms. The reforms, part of the Homegrown Economic Reform agenda, have yielded positive results, according to Ethiopian Planning and Development Minister Fisum Assefa.
State-owned Ethiopian company Ethio Telecom plans to offer 10% of its share to the public, the country's prime minister Abiy Ahmed Ali
wrote on X, calling it "a significant milestone."
"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. Key reforms, including the development of digital Ethiopia, have created the foundation for this moment," Abiy said.
He added that this decision contributes to the development of the Ethiopian stock market and expanding access to ownership in one of the nation’s leading state-owned enterprises.
Ethiopian News Agency reported that the maximum price for shares is 999,900 Birr ($8.29 for 3,333 shares), at the same time, the minimum figure equals 9,900 Birr ($0.09 for 33 shares).
Earlier, the Ethiopian Investment Commission reported that the country's Foreign Direct Investment rose by 12% during the first quarter of the current
fiscal year compared to the similar period of the last year.
Ethiopia implemented reforms to create a favorable business environment and attract both domestic and
foreign investment, the Ethiopian News Agency reported last week, citing Deputy Commissioner at the Ethiopian Investment Commission Zeleke Temesgen.
