Ethiopia: Works underway to privatize 10 sugar factories

Works are underway to privatize 10 sugar factories in a manner that benefits the country, said Ethiopian Ministry of Finance.

Wolikit, Beles I and II, as well as Kesem are among the sugar factories that will be up for privatization in the first phase.

Metehara, Fincha and Wonji factors will remain state-owned for now.

In an exclusive interview with FBC, Dr Beruk Taye, advisor to the Minister of Finance, said a lot works have been done to privatize 10 out of the 13 sugar plants of Ethiopia.

Technical assessment on the current condition of the factories and development of market strategies have been completed so far, he indicated.

The country announced plan to privatize sugar factories two years ago but still no sugar plant is sold to the private sector.

When asked why, he said, the process needs focused attention and preparations. It is still difficult to set a specific date for the privatization of the factories, he added.

However, works are underway to finalize the privatization of the factories as soon as possible, he said.

According to him, close to 30 companies have summit their interest to join the sector. The government is hiring a consultant for the privatization of the sugar plants.

Source: FBC