Ethiopia opens up logistics industry to foreign investors

Ethiopia allows friendly Chinese firm to acquire stakes in state-owned Shipping and Logistics Services Enterprise. Photo : RR

Casablanca (ADV) – The Ethiopia Investment Board on Tuesday reversed a major regulation that restricts foreign investment in the country’s budding logistics sector.

The opening-up of the logistics sector is part of the government’s grand plan to open the economy to foreign investment, he said, adding that a legislation is planned to define the share limit for foreign companies.

On June 5, the Executive Committee of the ruling coalition Ethiopian People’s Revolutionary Democratic Front issued a statement saying it is to partially liberalize key sectors of the Ethiopian economy, including transportation, telecommunication, and power generation.

South Africa-based telecom operator Vodacom and German telecom giant Deutsche Telekom have shown interest in buying shares in the state-owned Ethio-Telecom.

The country’s national air carrier, Ethiopian Airlines, is also in discussions to sell minority shares to other African countries.

© Bur-csa – N.A – ADV