Ethio-Telecom floats 10% of shares to public as firm readies to list

Ethiopia's largest telecommunications company, Ethio-Telecom, is set to make history as the first company to list on the country's stock exchange after announcing the sale of a 10 percent stake to the public. This groundbreaking move is expected to have far-reaching implications for Ethiopia's capital markets and economy as a whole. In a recent interview with Mered Fikireyohannes, CEO of Pragma Investment Advisory, CNBC Africa's Aby Agina discussed the significance of Ethio-Telecom's decision to go public. Fikireyohannes highlighted the opportunities and challenges that lie ahead for the telecommunications giant as it embarks on this new chapter. Ethio-Telecom's move to list on the Ethiopian bourse marks a major milestone in the country's economic development. The government's decision to privatize state-owned enterprises, starting with Ethio-Telecom, demonstrates a commitment to opening up the economy and attracting foreign investment. As Ethiopia continues on its path of economic reform, the listing of Ethio-Telecom is a symbol of progress and modernization. One of the key themes of the interview was the potential impact of Ethio-Telecom's listing on the Ethiopian capital markets. Fikireyohannes emphasized the importance of creating a vibrant and dynamic stock exchange that can attract both local and international investors. By offering shares to the public, Ethio-Telecom is not only democratizing ownership of the company but also providing an opportunity for individuals to participate in the country's economic growth. During the interview, Fikireyohannes also addressed the challenges that Ethio-Telecom may face as it navigates the process of listing on the stock exchange. From regulatory compliance to investor relations, there are numerous factors that the company will need to consider to ensure a successful transition to being a publicly traded entity. However, Fikireyohannes expressed confidence in Ethio-Telecom's ability to overcome these obstacles and emerge stronger than ever. As Ethiopia's economy continues to expand and diversify, the listing of Ethio-Telecom is a reflection of the country's ambition to position itself as a regional economic powerhouse. By leveraging the expertise and resources of the private sector, Ethiopia is paving the way for sustainable growth and development. The success of Ethio-Telecom's IPO will not only benefit the company and its shareholders but also contribute to the overall prosperity of the nation. In conclusion, Ethio-Telecom's decision to list on the Ethiopian stock exchange is a significant step forward in the country's economic transformation. With the support of investors and stakeholders, Ethio-Telecom is poised to set new benchmarks for corporate governance and transparency in Ethiopia. As the telecommunications industry continues to evolve, Ethio-Telecom stands ready to lead the way in driving innovation and connectivity for the people of Ethiopia.