Djibouti launches stake sale in state telecoms monopoly

The Djibouti government on Sunday launched a tendering process for a proposed partial privatisation of state-owned Djibouti Telecom.

The announcement was made after Djibouti’s council of ministers convened on Sunday to approve a law defining the terms and conditions for the total or partial transfers of shares in state-owned entities, with the government saying it will offer a significant minority stake in the company to a “first-rate strategic partner”.

Djibouti Telecom is the monopoly telecoms operator in the tiny desert nation of less than 1 million people, which lies on one of the world’s busiest shipping routes, the Gulf of Aden, and hosts U.S., Chinese and French military bases. Reuters