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On Privatization of Public Enterprises in Ethiopia: Part II
By: Mekdes Mezgebu and Mesfin Tafesse
In Part One, our review of the legal framework for the privatization of Public Enterprises (PEs) in Ethiopia has shown a legal vacuum on who holds the authority to privatize PEs such as Ethiopian Airlines, Ethio-Telecom and Ethiopian Electric Power (EEP). Nevertheless, other PEs targeted for privatization falling under the jurisdiction of the Ministry of Public Enterprises (MOPE) will likely be subject to the Ministry's existing regulations.
In the second part our legal update, we discuss these rules and procedures as they may be applicable to PEs such as the Ethiopian Shipping and Logistics Services Enterprises (ESLSE), the Sugar Corporation and Railway Corporation. We also highlight some of the post-privatization regulatory requirements that are likely to emerge.
MOPE's mandate to implement the privatization program of the government stems from the PE Proclamation, the Privatization Proclamation and the Executive Proclamation. In addition, MOPE has developed a number of directives to regulate privatization procedures. These are:
Public Enterprises and Share Companies Valuation Directive, 2013 ("Valuation Directive")
Transfer and Sale of Public Enterprises Directive, 2016 ("Sales Directive")
Sale and Transfer of Public Enterprises through Negotiation Directive, 2016 ("Negotiation Directive") and
Partnership Implementation Directive (2017) ('Partnership Directive").
These rules govern privatization processes from pre-privatization stage to bidding and transfer of the PEs.
Methods of Privatization
The Privatization Proclamation provides that a PE may be privatized in one or more of the following modalities:
Sale of a PE or its unit or asset;
Sale of government's shareholding in a share company;
Contributing a PE as government's share in a share company to be formed with a private entity;
Transferring the management of the PE by way of a long term contracts such as management contracts, lease contracts or concession contracts. This also includes long term partnership arrangements in which ownership will eventually be transferred back to the government. Such partnership modality contains contractual agreement where the private sector will: Build, Operate and Transfer (BOT), Build, Own, Operate and Transfer (BOOT), Rehabilitate, Operate and Transfer (ROT) and Design, Build and Operate (DBO).
Privatization Process
The privatization process of a PE requires a series of steps to be completed.
The Decision to Privatize
The PE Proclamation provides that the Council of Ministers (COM) must determine the sale or transfer of an enterprise. Thus, as a matter of priority, any privatization programs will require a decision of the COM. In addition, as noted in part one of the legal update, for the purpose of the PEs under consideration, the COM's decision to privatize must be accompanied by a decision to open the investment sectors that are otherwise restricted for the private sector.
Pre-Tender Preparation
i. Conversion to Share Company
PEs typically exist as an enterprise (corporation) or as share companies with full or partial ownership of the State. The capital of a PE is determined by the government. The Privatization Proclamation provides that in the process of privatization, MoPE may cause the conversion of an enterprise to a share company. At the time of formation of the share company, the capital of the PE will be divided into shares with government owning 100% of the shares. The key PEs that are under consideration for privatization are currently all 100% state owned and exist in the form of corporations or enterprises. Given that the government intends to partially transfer shares of these PEs, their conversion to share companies will be mandatory.
ii. Valuation
Valuation of a PE or its units or assets is a prerequisite to privatization. MOPE's Valuation Directive provides two valuation methodologies.
Those PEs that have recorded profits once in the previous three years, the business value of the PE based on future benefits (this may mean discounted cash flow) and Asset valuation will be made. Whichever is of a higher value, will be selected as the value of the PE.
Those PEs that have recorded losses for previous three consecutive years, only asset valuation will be carried out.
The floor and indicative price as determined by the valuation process will be approved by MOPE. Valuation of an enterprise will only be valid for a period of three consecutive years.
Bid Document Preparation
Bid documents and bid notices are prepared by MOPE's Investment Directorate. The bid document will contain, among others, the following key information:
The PE financial standing, audit and performance report;
The PE's profitability for the 3 years preceding the bid;
Full information on the PE employees and staff;
Fixed and movable properties of the PE;
Sample sales contract;
Bid evaluation criteria, bid and performance bond requirements; and
Invitation to bidders and
Furthermore, MOPE will prepare a Bid Notice having, among others,
Fees for the purchase of bid documents;
The date, place and time of bid opening; and
The amount of bid guarantee.
The above requirements are not subject to changes or negotiable unless MOPE considers there are compelling reasons.
Tendering Process
The Privatization Proclamation requires MOPE to adhere to principles of transparency in implementing any privatization programs. The principal method of privatization is through a competitive public tender. Except where there is a pre-existing contractual rights giving priority to existing shareholders of a PE, direct negotiations are permissible on specific grounds provided by law.
i. Open Bidding
MoPE Sales Directives provides that all privatization programs should be carried through open bidding. The sale of the PE is required to be publicized in all media platforms to attract the best offer from the market. Once all the bidding proposals are received, the bid opening procedure would be made publicly in front of the relevant staff of MOPE, bidders and observers. All bidding documents will be verified for the signature of the formal representative of the bidder, the official seal of the bidder and the fulfilment of the requirements of bid bond.
ii. Direct Negotiations
Direct negotiation with private parties will only be pursued and instructed by the Minister of MOPE if:
An open bidding process fails for a consecutive three times; and
The PE is unable to function in its existing form and transfer through direct negotiation is considered as the best option for privatization.
MOPE Negotiation Directive states that call for Direct Negotiations should be made publicly. A Negotiation document and Negotiation Notice that is similar to the Bid document and notice for open tenders must be prepared by MOPE. MOPE has the discretion to negotiate with more than one bidder and select the final winner.
In open bids, evaluation of the bids will be made on the basis of the Financial Proposal and Technical Proposal. The bidder who has passed the technical proposals and offered the highest price will be selected as a winner. Bidders offering to pay 100% of the purchase price on the date of the execution of the sales agreement, rather than through a deferred payment modality, may be given additional points of evaluation. Where there are more than two bidders with similar score, these bidders will be given the opportunity to provide a final offer. On the basis of the evaluation criteria, MOPE will determine the winner and notify of the award to all bidders. The winning bidder is expected to sign the sales agreement within 10 days of award. Where the winning bidder fails to do so, the second ranked bidder will be given the opportunity.
Parties to a privatization program may choose ordinary courts or arbitration tribunals as a forum for the settlement of disputes. If arbitration is the preferred mode of dispute settlement, the rules of arbitration specified under the Ethiopian Civil Procedure Code and the Civil Code will be applicable. From past privatization programs, MOPE has selected Ethiopian courts as the preferred forum for dispute resolution under the PE's sales agreement.
Post- Privatization Considerations
i. Executing Sales Agreement - following the announcement of a successful winner, the winning bidder will be invited to sign a Sales Agreement with MoPE. The Sales Directive provides that the Sales Agreement must provide particulars on payment modalities, hand-over of the PE, and material contracts to be transferred to the private party. It is also provided that the buyers undertaking to implement the business proposal and expansion plans (if any) and the role of MoPE in post-privatization supervision must be included in the Sales Agreement. The winning bidder must settle all payments in accordance with the Sales Agreement and guarantees (if any).
ii. Merger Approval – The Trade Competition and Consumer Protection Proclamation No. No.813/2013 provides that merger notification and approval must be obtained from the Trade Competition and Consumer Protection Authority (TCCPA) for deals that are considered as merger. The scope of application of the TCCP Proclamation extends to any commericial activity or transaction in goods or services conducted or having effect in Ethiopia. Thus, for the purpose of TCCPA approval, a merger is deemed to have occurred,
when two or more business organizations previously having independent existence amalgamate or when such business organizations pool the whole or part of their resources for the purpose of carrying on a certain commercial activity.
By directly or indirectly acquiring shares, securities or assets of a business organization or taking control of the management of the business of another person by a person or group of persons through purchase or any other means.
Any privatization of a PE fulfills the elements contained in (b) above. This makes merger notification and approval inevitable. TCCPA normally approves the merger if it is of the opinion that the merger is not likely to have any significant adverse effect on trade competition.
iii. Transfer of Rights and Liabilities: with the exceptions of debts, the Privatization Proclamation provides that all rights and obligations of the PE will be transferred to the Buyer upon privatization. The transfer of debts will require the consent of the creditors. With respect to receivables and payables, any outstanding obligations of the PE will be transferred to the Board of Trustees for Public Enterprises. Proclamation No. 208/2000 empowers the Board of Trustees to collect any receivables and takeover debts that are not transferred to the private party upon privatization. This law obliges the private party to preserve the documents and files to be transferred to the Board in their original place and condition until the Board takes over or removes them. In addition, the private party is expected to cooperate in the collection of debts and receivables.
iv. Post – Privatization Supervision: MOPE is given the responsibility to monitor progress of the privatization program. The investor who has bought into the PE is required to implement the investment plan (typically lasting 5 years) that was submitted as part of the Bid document and agreed upon under the Sales Agreement. The private entity is also required to submit periodic reports and allow MOPE's personnel to undertake inspection, where necessary.
Ethiopia's regulation of PEs and privatization programs leaves a lot to be desired. There are legal and institutional loopholes that must be addressed to accommodate the massive privatization plans of the government. Clarity in relation to the articulation of the privatization mandate as it applies to the Ethiopian Airlines, Ethio-Telecom and EEP will ground the process on a strong legal basis.
While MOPE is relatively better positioned to guide the privatization process, its existing rules and procedures are inadequate to manage the size and complexity of some of the PE targeted for privatization. MOPE would require strong external support (financial, management and legal) to achieve the desired results of the privatization. Active participation of the PEs and their sectoral supervisory ministries as well as close monitoring of the COM is needed.
On Liberalization of the Logistics Sector
On Privatization of Public Enterprises in Ethiopia
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Portsmouth is a historic waterfront city on England's south coast, located on Portsea Island. The city is home to some famous ships, including HMS Warrior, Henry VIII's warship the Mary Rose, and Horatio Nelson's flagship HMS Victory. The waterfront and Portsmouth Harbour are dominated by the Spinnaker Tower, one of the United Kingdom's tallest structures at 560 feet (170 m).
Everything's close by in Portsmouth. One minute you could be standing on the deck of an historic ship, the next you could be walking down a bustling shopping street, browsing in a gallery or sitting on the beach.
Portsmouth has been a Fairtrade City since 2004 and the University has been a longstanding supporter of Portsmouth Fairtrade Forum – hosting events and providing grant funding for promotional activities, including the Portsmouth Fairtrade Guide. The University gained Fairtrade Status in 2005 and has continued to extend its use and range of Fairtrade products to cover all catering and retail outlets and in-house catering. The University is committed to promoting Fairtrade products and has agreed a Fairtrade Policy for the University community and the catering services.
Portsmouth is easily accessible through national and international sea, air, rail, and road connections. Travelling around the city is also very easy and most sites are within walking distance. We also have an efficient public bus service and ample taxi services.
By Air: Access to Portsmouth by air is ideally located between three airports: Southampton airport (30 min), Gatwick Airport (1 hour 20 minutes) and Heathrow airport (1 hour 20 minutes) by road.
By Rail: South West Trains run a service from London Waterloo to Portsmouth that leaves every 15 minutes during peak-times and takes just over 1 hour 30 minutes to reach Portsmouth city centre.
By Bus: Heathrow Airport has a direct National Express coach running directly to the Hard Interchange in Portsmouth just a short 10 minute walk from the University campus.
By Sea: Access to Portsmouth by sea is through a series of ferry services with daily sailings to and from France: Cherbourg (car ferry or fast catamaran), Caen/Ouistreham, Le Havre, St Malo. Twice weekly service to and from Spain (Bilbao).
The University of Portsmouth has one of the best selections of accommodation on the South Coast during the summer vacation period at three locations across the city.


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Santaluces Lady Chiefs player one of Palm Beach County's top scorers
By Alex Kushel
Santaluces Commmunity High School senior guard Emiah Downie has led the Lady Chiefs basketball team during the 2018-2019 season. (Santaluces Community High School/Courtesy)
Santaluces Community High School senior guard Emiah Downie has enjoyed a stellar season on the hardwood. Downie is one of top scorers in Palm Beach County as the Lady Chiefs basketball team looks to reach the playoffs in District 10-9A.
During their first four games in January, Downie has scored at least 21 points or more for the Lady Chiefs.
Downie recently scored a season-high 30 points with six assists and five steals in a 77-26 victory against Royal Palm Beach. She registered 27 points with four assists in a 66-25 win against Lake Worth. The 5-foot 6-inch guard also scored 26 with seven assists and five steals in a 60-15 victory against Boynton Beach.
The Lady Chiefs, under the direction of head coach Zoe Price, also are led by senior guard Brona Jean, senior forward Fabienne Noel, junior forward Quenisha Auguste, freshman forward Britney Chery, senior guard Haedi Reid, senior guard Autumn Hennessey, senior guard Amanda Estiverne and junior forward Talita Cunningham.
The Lady Chiefs had 20 wins and reached the Class 9A regional final for their best finish in school history last season.

redpajama_set_name: RedPajamaCommonCrawl


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Fascinating photo blog dives into The New York Times' morgue
By David Pierini • 5:00 am, July 21, 2014
Darcy Eveleigh runs popular TUmblr blog The Lively Morgue.
[avocado-gallery ids="287795,287796,287798,287799,287800,287801,287802,287803,287804,287805,287806″]
Inside a New York City morgue, the rich, famous and celebrated rest in the same space with the soldier, the wheat farmer and nuns trained in the martial arts. There's even a car show model who was mauled by a lion.
Darcy Eveleigh pulls drawers at random and gives these people another day. They're not dead, just filed.
Eveleigh is a New York Times picture editor who curates the popular Tumblr blog, The Lively Morgue, a collection of historic and often quirky images found in the Times' photo archive.
Eveleigh will not live to see every photo. The files are believed to hold between 10 and 20 million images. The site reports that if Times picture editors posted 10 new archived photos on the blog each day, they might have every picture online by the year 3935.
"They are all accidental small treasures I did not mean to come across," Eveleigh said of the serendipity she relies on during her regular visits to the morgue, located three stories below ground level.
The Lively Morgue began as an occasional feature on Lens, the popular New York Times photo blog co-edited by James Estrin and David Gonzalez. In 2012, the Times worked with Tumblr to create a unique site that allows viewers the option to see the back side of each photo, which contains captions, maybe a note on how the photo was used and other notations from editors, photographers and archivists.
More than 100,000 followers view The Lively Morgue, which Eveleigh updates three times a week.
Clicking on the blog on any given day creates the same kind of surprise Eveleigh describes when she pulls a picture from a file.
Sure, you will see the expected window on history as only the New York Times can present: Roosevelt, Churchill and Stalin meeting in Tehran, Olga Korbut grabbing gold at the 1972 Olympics and the construction in 1970 of the World Trade Center towers with the iconic beams we remember seeing slumped in smoldering ruins on Sept. 11, 2001.
But the next post could be odd or everyday: Bronx children cooling off in front of an open fire hydrant, a policeman's horse being rescued after it fell into the East River in 1961 or a portrait of a champion female speedboat racer from 1931 with the caption, "She rivals the best of the masculine speedboat racers."
The best feature of the blog is not the individual pictures but a narrative thread that provides a smooth, often whimsical transition from photo to photo that Eveleigh hopes viewers detect.
Start with a post showing a contact sheet of a shark at an aquarium. The next offering is a silent movie star standing with a record catch of barracuda. Then more fish with a picture of a woman inspecting fresh catch at a market on Park Avenue. Fish becomes food and the next post shows a waiter's hand about to uncover a meal on a plate. The thread next runs through a 1964 photo of legendary chef James Beard at his cooking school. The Beard photo is followed by another chef, only this one is dancing the Flamenco at a party he cooked for in 1971. The next transition is from food to dance with ballerinas in 1947 striking a pose that is similar to the dancing chef.
"This is a very conscious decision," she said. "I want to take people through the morgue the way I go through the morgue. I go down there and randomly open drawers. But I also want to tell a story."
She makes piles of photos that strike her with delight or some other emotional chord. She loosely organizes the piles not by subject but with common elements that unify them.
Eveleigh became fascinated with the Times morgue on her very first trip shortly after she started in 2004. While working as a "floating" picture editor, she would take trips to the morgue during down time between assignments.
"One day very early on in the process I went down at around 11 a.m.," she said. "Somewhere around 8 that night, my cellphone rang and it was my husband wondering where I was. I completely lost track of time, I was so wrapped up."
For about six months, she was pulling pictures, forming piles of 20 to 25 photos, scanning them and creating the groupings that give the photos a narrative arch. She didn't tell anyone until she approached Estrin about featuring some of the pictures on Lens.
The monthly feature was instantly popular, Eveleigh said. Recognizing the popularity of the photos, a member of the Times social media team suggested creating a separate Tumblr site. Writer David Dunlap came up with the name of the blog and was instrumental in its start.
The photos are not limited to those that were published. Sometimes the outtakes are better or she even goes back into the negatives to find a true gem. Legendary picture editor John Morris gave her the best advice: Re-edit everything.
She might agonize a little if asked for favorite pictures. But one that rises to the top for her shows two nuns in full habits at a marshal arts class, including one in mid-air about to land a kick to her instructor.
Another involves the discovery of a genuine presidential artifact, which began with a George Tames photo of Dwight D. Eisenhower with a camera. Her research into the photo uncovered a brief article about a White House press photographers' awards banquet and a special award presented to the president for a picture he took of the press corp that followed him.
On a return trip to the file, she discovered the very polaroid picture Eisenhower made. He apparently gave it to Tames, who filed it with his negatives.
"Sometimes I get an email from a family member of someone in a photo," she said. "They had no idea that they were photographed. That's the happier part of all this when I can bring people back to their loved ones."
Posted in: News, Top stories Tagged: lens, The New York Times, Vintage photographs


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"A huge "thank you" goes to the EPUMC congregation, both present and former, for the wonderful support that has brought us a new flat roof, new air conditioning all around and a new parking lot!
"WOW, every one of these items has been talked about for a number of years, but we just couldn't seem to commit and get it done. Yet, this time around, we committed to all three, and are coming in under the budget we approved for ourselves. That's right, we approved a capital campaign budget of $368,200. We are currently sitting under that budget by at least $10,000. And that is including several additional needs we just were not aware of at the time we started.
- Full replacement of our damaged air conditioner unit for the sanctuary.
It's going to be a great time next Wednesday. I hope to see you there.
Potluck Details: We will begin at 6 p.m. The Trustees will provide sloppy joes. If you last name starts with the letters A-M, please bring a salad or side dish. If your name begins with N-Z, please bring fruit or a dessert.


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Home Scam/Fraud Receiver in Champion-Cain Ponzi case gets judge's OK to go after Chicago...
Receiver in Champion-Cain Ponzi case gets judge's OK to go after Chicago Title for investor losses [The San Diego Union-Tribune]
The receiver in the $400 million Ponzi scheme case involving former San Diego restaurateur Gina Champion-Cain has been granted permission by a federal judge to go after a title insurance company it believes was complicit in defrauding investors.
The decision last month by U.S. District Court Judge Larry Burns comes 1 1/2 years after receiver Krista Freitag first requested permission to sue Chicago Title. In a draft complaint she wrote at the time, Freitag asserted that the company was "reckless in preventing its employees from using the instrumentalities of its business to facilitate and engage in brazen acts of fraud."
While Champion-Cain is already serving time in federal prison after pleading guilty last year to criminal fraud and conspiracy charges, the original civil case dating back to August of 2019 remains active as the receiver continues to sort through the assets and debts of Champion-Cain's former companies, ANI…
Criminals used her new home as a puppy scam headquarters — bobsullivan.net
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By Emilie Ruscoe (September 30, 2022, 9:24 PM EDT) -- The U.S. Securities and Exchange Commission has filed suit against a pair of...
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The Bombay High Court on March 25 granted bail to Gautam Thapar, Avantha Group promoter and non-executive chairman of Avantha Realty, in connection with...