ስለ ኢትዮ ቴሌኮም አክሲዮን ሽያጭ ዝርዝር መረጃ | የብር ዋጋ አሽቆለቆለ – ETHIOPIA
Ethio Telecom, a state-owned entity, has declared its intent to sell 10% of its shares to the public. This represents a notable transformation in the country’s telecommunications sector. The company has experienced significant financial growth over the past three years, with reported net profit of 19 billion birr as of 30 June, 2024, 18 billion birr as of 30 June, 2023, and 9 billion birr as of 30 June, 2022.
The public share sale, set to commence on 23 October, 2024, is a part of the Ethiopian government’s larger economic reform strategy, with the objective of bolstering private sector involvement in the telecom sector. At the time of the announcement, Ethio Telecom held one billion shares, with an estimated value of 100 billion birr. Of this total, 100 million shares will be made available to the public, priced at 300 birr per share.
Ethio Telecom intends to divest 10% of its total shares, while the government will maintain ownership of the remaining 90%. The proposition for the partial privatization of the company was put forth in 2021, and in May 2022, ownership and administrative amendments were implemented to facilitate the share sale.
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#Ethiopian birr among the weakest currencies in Sub-Saharan #Africa, reports World Bank
The Ethiopian birr, #Nigerian naira, and #South_Sudanese pound are among the worst-performing currencies in Sub-Saharan Africa, according to the #World_Bank’s Africa Pulse report.
“By August 2024, the Ethiopian birr, Nigerian naira, and South Sudanese pound were among the worst performers in the region,” the report stated.
In contrast, currencies like the #Kenyan shilling have shown signs of recovery, appreciating by 21% year-to-date by August 2024. Despite this improvement, many African economies continue to face foreign exchange challenges.
Nigeria, along with other countries in the region, continues to face severe foreign exchange shortages and exchange rate pressures. The report highlights that “despite foreign exchange market reforms, such as the liberalization of the official exchange rate, the Nigerian currency continued to struggle.”
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Residents in various parts of Addis Ababa reported feeling the tremors of an earthquake. The earthquake, which lasted only a few seconds, has caused concern across the city. This marks the third earthquake tremor to be felt in recent days.
A local resident shared, “It was especially strong upstairs. The building shook for a moment.”
The source of these tremors is believed to be linked to a recent earthquake in the Awash Fentale region. This earthquake’s impact has reached as far as Addis Ababa and neighboring areas, with tremors reported in Laphto, Hana Maryam, Jamo, Summit, and Tulu Dimtu within the city.
Authorities are currently assessing the situation. Stay tuned for more updates!
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