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Ethiopia aims to offer foreigners stakes in some state firms
January 9, 2017 / 5:24 PM / 9 months ago

Ethiopia aims to offer foreigners stakes in some state firms

ADDIS ABABA, Jan 9 (Reuters) - Ethiopia aims to offer foreign firms stakes in some state-owned companies to help modernise the businesses, the prime minister said on Monday, signalling a shift from the nation’s heavy dependence on state investment to drive growth.

The move would include offering a stake in state-owned Ethiopian Shipping and Logistics Services Enterprise, Prime Minister Hailemariam Desalegn told a news conference, without naming other firms or giving the size of any stakes on offer.

It was not immediately clear if the initiative would mean opening up the state-run telecommunications sector or banks, which are either owned by the government or private Ethiopian investors. Foreigners have eyed those sectors in particular.

Reporting by Aaron Maasho; Writing by Edmund Blair; editing by Ralph Boulton

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