The Ethiopian tobacco monopoly is expected to be sold, either to the foreign investors who already own a share of the enterprise and who are currently negotiating a full acquisition, or, failing that, through some other form of sale, according to a story by Dawit Taye for The Reporter.
Currently, the state owns 78 percent of the National Tobacco Enterprise (NTE), having sold the rest of the shares in 1999 to Sheba Investment PLC.
As well as cigarette manufacture, the monopoly enterprise is involved in importing tobacco products, issuing permits for the importation of tobacco products and running tobacco farms, which would be part of the package offered for sale.
Some people are questioning the wisdom of selling the NTE. They believe it is a strategic enterprise since its products have a direct impact on the health of users.
Others question the wisdom of privatization on the grounds that the NTE currently makes an impressive profit.
Category: Breaking News