China Merchants eyes Ethiopia’s top line : Ethiopian Shipping and Logistics Services Enterprise (ESLSE) are now being sold.
China Merchants eyes Ethiopia’s top line
(Splash24/7) –The Ethiopian government is selling shares in one of Africa’s top shipping lines. Prime minister Hailemariam Desalegn has revealed shares in Ethiopian Shipping and Logistics Services Enterprise (ESLSE) are now being sold.
“We are trying to privatise the company with some equity to a specific company, not for lack of money but to modernise the system, using foreign companies that have knowhow, technology and managerial capability,” Hailemariam said.
China Merchants is tipped as a likely investor.
ESLSE was established five years ago through the amalgamation of Ethiopian Shipping Lines, the Dry Port Services Enterprise and the Maritime and Transit Services. The company has 12 ships including two tankers.