U.S. Wants In On Ethiopia Privatization Plans, Commits To Investing $5B
The U.S. is planning to support the expansion of Ethiopia’s private sector through investment.
The newly created International Development Finance Corporation, a Washington D.C.-based government agency that finances private development projects, says it plans to invest $5 billion in Ethiopia to support private-sector reform and counter China’s influence in one of Africa’s fastest-growing economies, according to FT.
Ethiopia is in the process of opening up its economy to investors and is planning a series of privatizations.
This includes the sale of a 49-percent stake in Ethio Telecom, Ethiopia’s state-owned telecoms monopoly, and the sale of two new licenses for new entrants into the country’s telecoms market.
U.S. Secretary of State Mike Pompeo visited Ethiopia in February as part of a trip that included stops in Senegal and Angola.