Ernst & Young Ltd to Advise Ethiopia in its bid to Privatize 9 Sugar Factories

ADDIS ABABA – The government of Ethiopia is set to hire Ernst & Young Global Ltd as a consultant in its bid to privatize nine sugar public factories.

The Nairobi-based firm has been selected as winner in an international tender floated by the Public Enterprises Holding and Administration Agency [PEHAA].

The Agency currently supervises various public enterprises including Beles I, Beles II, Kuraz I, Kuraz II, Kuraz III, Wolkayit, Arjo Dedessa, Tendaho and Kesem sugar factories.



YE is expected to work as a consultant to the government, which revealed its plan to privatize the sugar factories almost three years ago.

No sugar factory has yet been privatized.

The latest selection of the consultant is expected to speed up the privatization process of the factories.

The Agency said more than 10 international consultants expressed their interest but only two Kenya-based firms – EY and Pricewaterhouse cooper limited (PWE) managed to submit their technical and financial proposals.

The government agency’s technical committee found the technical proposals of the two firms in agreement with requirements set forward for the selection.

It also opened the financial proposals on Wednesday in an event that was attended by representatives of the two competing firms in attendance, and, eventually, declared EY as winner.

The result will soon be submitted to the agency’s procurement department and, subsequently, to the winning firm. “And then the next move will be signing the contract which will enable the firms to start its work,” said the agency.

 

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