Ethio telecom has transformed into a share company in accordance with the Ethiopian Commercial Code under the guidance of the Ethiopian Capital Market Authority (ECMA). The company announced that it has reached a crucial historical milestone, involving citizens across the country, and enabling over 47,000 of them to acquire an ownership stake.
The official sale of a 10% ownership stake in Ethio telecom was launched on October 16, 2024, and was initially scheduled to run through January 3, 2025. Upon presenting preliminary results to relevant government bodies and the ECMA, the deadline was extended to February 14, 2025, allowing a total of 121 days (including weekends and holidays) for citizens to participate in the digital share sale.
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This share sale supports the government’s broader vision to accelerate inclusive and sustainable economic growth and development, particularly by widely involving numerous citizens in domestic investment and fostering a strong capital market system. By conducting the entire sale digitally, Ethio telecom ensured that the process was fair, transparent, secure, and accessible, thereby contributing meaningfully to the realization of a digital economy and society.
Accordingly, through widespread participation, citizens across the country mobilized approximately ETB 3.2 billion, and 47,377 citizens digitally purchased over 10.7 million ordinary shares of Ethio telecom in a short period. The company stated that the process of completing any missing information will be carried out through direct communication with each applicant to confirm their ownership in the company.
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Following the completion of the share allocation approval process by the Capital Market Authority, Ethio telecom will officially announce the results, and the allocated shares will be registered at the Central Securities Depository (CSD). The company will provide updated information to shareholders every step of the way until this process is finalized.
Furthermore, subsequent steps will be taken to list the company on the Ethiopian Securities Exchange (ESX) so that citizens who become shareholders can then trade their shares on the market.
Ethio telecom will announce the detailed sales process for the remaining shares in the future. These shares will be offered to the market again in a manner that protects the rights of the current shareholders after obtaining approval from the relevant authorities.
