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Addis Ababa, Ethiopia – December 4, 2024 – Ethiopian Investment Holdings (EIH), the strategic investment arm of the Ethiopian government, has announced a major portfolio expansion with the addition of eight state-owned enterprises (SOEs). This move underscores EIH’s commitment to enhancing economic productivity and positioning itself as a pivotal driver of growth across key sectors of Ethiopia’s economy.
The companies, previously managed under the Public Enterprises Holding and Administration portfolio, will now operate under EIH’s management. These include prominent entities such as the Ethiopian Postal Service, Ethiopian Industrial Inputs Development Enterprise, Ethiopian Railway Corporation, and the Development Bank of Ethiopia. Also joining the portfolio are the Industry Parks Development Corporation, Ethiopian Electric Power Corporation, and subsidiaries of Ethio Pharma Group, including the National Veterinary Institute and ShieldVax.
The transition, governed by Regulation No. 487/2022, Article 8, is part of EIH’s broader strategy to streamline the management of Ethiopia’s state-owned enterprises through active ownership and professional oversight. This shift aims to unlock their full potential, ensuring they contribute more effectively to the country’s industrialization and economic diversification efforts.
Dr. Brook Taye, CEO of Ethiopian Investment Holdings, expressed optimism about this milestone, stating, “These exceptional enterprises are integral to Ethiopia’s industrial and growth ambitions. At EIH, we are committed to creating wealth to finance development and enhance the quality of life for future generations. Through focused, professional management and active ownership, we will drive these organizations to new heights of performance and innovation.”
EIH’s vision includes transforming these SOEs into globally competitive entities capable of attracting local and international investment. This aligns with Ethiopia’s national priorities of driving economic development, creating jobs, and building a sustainable future.
Established under the Council of Ministers Regulation No. 487/2022, EIH is focused on fostering economic growth by managing state assets more efficiently and unlocking value from unutilized resources. With its expanding portfolio, EIH is cementing its role as a catalyst for innovation, sustainable development, and economic transformation in Ethiopia.
This strategic move not only strengthens EIH’s position as a leading investment arm but also underscores the Ethiopian government’s dedication to modernizing its economy and enhancing competitiveness in the global arena.
For further details, EIH encourages stakeholders and investors to contact its headquarters in Addis Ababa.
