Ethiopian govt to offload stake in Ethiopian Shipping Lines

Ethiopian govt to offload stake in Ethiopian Shipping Lines

Jan 17, 2017: Ethiopian government has confirmed that it is in the process of selling stake in Ethiopian Shipping and Logistics Services Enterprise (ESLSE).

This news was disclosed by Ethiopian Prime Minister HailemariamDesalegn during a press briefing where he explained the costs of inland transportation outweigh the costs of transportation by sea. ESLSE is the only state run company which owns commercial boats in Africa.

“We are trying to privatise the company with some equity to a specific company, not for lack of money but to modernize the system, using foreign companies that have knowhow, technology and managerial capability,” said Hailemariam to the media.

 

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