MoF extends dates of EOI Submission to privatize 8 sugar enterprises for another month

Addis Ababa, November 22, 2022 (FBC) – The Ethiopian Ministry of Finance has announced that the due dates for submission of expression of interest in a bid to privatize 8 state-owned sugar enterprises have been extended for another month.

As part of the Federal Democratic Republic of Ethiopia’s economic reform strategy, the Government is committed to ensuring more efficient use of national resources by shifting towards a competitive market structure, with a greater role for the private sector in the economy, the Ministry said in an official statement.

To this end, the Government started sugar sector reforms aiming to increase private sector participation in the ownership and operation of sugar companies.

The Government has invited both international and domestic investors to participate in the tendering of 8 state-owned sugar enterprises, the statement recalled.

These include Omo Kuraz 1, Omo Kuraz 2, Omo Kuraz 3, Omo Kuraz 5, Arjo Dedessa, Kessem, Tana Beles, and Tendaho (together the “Sugar Enterprises”).

Following a request from potential investors, the Federal Democratic Republic of Ethiopia wishes to extend the submission date for the Expression of Interest (EOI) to participate in the proposed opportunity from on or before November 30, 2022, to January 4, 2023, 5pm East African Time (EAT), the Ministry confirmed.

MoF further confirmed that the date for execution of an NDA has also been extended to December 31, 2022.

It is known that the Ethiopian government issued a tender to privatize sugar factories last August.

Interested parties can express their interest by downloading the EOI document and executing and submitting a Non-Disclosure Agreement to the Ethiopian Investment Holdings (EIH).

All other details and instructions to the invitation to submit an EOI remain unchanged.