Ethiopia raises stake of Ethio Telecom up for sale

Ethiopian Prime Minister Abiy Ahmed

Ethiopian Prime Minister Abiy Ahmed. PHOTO | FILE | AFP

The Ethiopian government on Thursday said it would sell up to 45 percent of Ethio Telecom, a state-owned monopoly, up from an initial offer of 40 percent.

Ethiopia launched the process for the partial sale of the behemoth carrier in 2021 as part of a push to open up the country's tightly controlled economy.