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Ethiopia Hopes that Allowing the Birr to Trade more Freely will Unlock more than $20bn of Financing
By SG Editor·
A tall glass skyscraper in South Africa displaying business sentiment metrics, with palm trees and cityscape in the background.
This week’s first-ever initial public offering for 10% of its state telecoms company is an important milestone. While the sale is to local retail investors, it paves the way for a long-touted stock exchange that will help lure foreign investment — it’s the only one of Africa’s five biggest economies not to have a stock market. The offer is the largest in Africa this year, with the shares in Ethio Telecom — its top mobile-phone service provider with almost 80 million customers — aiming to raise $255 million.