Current Status

The Ethiopian Privatization Agency started to implement its program first by privatizing small retail trade outlets and hotels as well as small-scale manufacturing and agro-processing enterprises. To date, 195 units and whole enterprises have been privatized and transferred to domestic and foreign investors- including 21 industrial enterprises, 14 hotels and 108 retail enterprises. Over the coming three years, the plan is to privatize 118 public enterprises.

The major transactions where foreign investors have participated in the privatization program include:

   Lega Dembi Gold Mine, acquired for US$ 172 million
   Coca Cola Factory acquired for Birr 68 million
   Eight agro-industry companies acquired for US$ 54 million
   National Tobacco Enterprise (51%) acquired for US$ 35.7 million
   Pepsi Cola acquired for US$ 16 million
   St George Brewery acquired for US$ 10 million
   Adwa Flour Mill acquired for Birr 2.5 million
   Tana SuperMarket acquired for Birr 68 million

The Agency signed, on May 13,2000, sales agreement of five State-owned enterprises for a total of US$ 65.5 million. The agreement was signed with MIDROC Ethiopia. The enterprises involved are :

   WushWush Tea Development Enterprise
   Gumaro Tea Development Enterprise
   Tea Production and Marketing Enterprise
   Gojjam-Gondar Agricultural Development Enterprise
   Kenticha Tantalum Mining Enterprise

MIDROC Ethiopia will pay US$ 12.5 million for the Gojjam-Gondar Agricultural Development, US$ 27million for WushWush and Gumaro Tea Development Enterprise Enterprises and Tea Production and Marketing Enterprises, US$ 26 million for Kenticah Tantalum Mining Enterprise.

 
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