Ethiopia’s Ministry of Finance invited proposals from parties interested in buying a 40 per cent of state-owned mobile operator Ethio Telecom, as the country continued efforts to boost its communications industry.

In a statement, the government department explained it was looking for investors capable of adding value in areas including operations, infrastructure management and next-generation technology capabilities.

No price guide for the minority stake was cited in the release, though it is asking for $20,000 from interested parties to receive a copy of the request for proposal document detailing what is being offered and associated terms.

Interested parties also have to sign a confidentiality agreement.

The ministry added Ethio Telecom had robust infrastructure and a strong financial performance which offers a “significant competitive advantage to any investor”.

Sale of the stake in the only operator currently offering services comes as part of a wider strategy designed to bring competition to the sector and improve accessibility to mobile services.

Earlier this year Ethiopia issued its first private licence to a consortium led by Vodafone Group affiliate Safaricom and is in the process of recruiting a second new entrant.

Simultaneously it prepared to sell the Ethio Telecom stake, asking for initial expressions of interest in June after shifting its original timeline due to the Covid-19 (coronavirus) pandemic.

As the processes progressed Ethio Telecom has been working to boost coverage and expand its offer.