Press Release
Ethiopian Investment Holdings (EIH) and Azerbaijan Investment Holdings (AIH) have signed a Memorandum of Understanding (MoU) to foster strategic collaboration between the two entities. The MoU was signed by Dr. Brook Taye, CEO of Ethiopian Investment Holdings, and Mr. Ruslan Alikhanov, CEO of Azerbaijan Investment Holdings, in a formal ceremony attended by senior executives from both organizations.
This agreement aims to establish a framework for cooperation in key areas, including knowledge and experience sharing, technology exchange, and joint investment initiatives. The partnership reflects both nations’ commitment to enhancing economic growth and fostering sustainable development through state-owned enterprises and strategic investment projects.
Speaking at the signing ceremony, AIH CEO Mr. Ruslan Alikhanov highlighted the significance of this partnership and the potential for synergy between the two organizations, stating:
“Azerbaijan Investment Holdings is pleased to formalize this strategic partnership with Ethiopian Investment Holdings. This collaboration opens avenues for knowledge transfer, technological advancements, and joint ventures that can enhance the performance of state-owned enterprises in both countries. We are confident that this partnership will yield tangible benefits and contribute to the broader economic aspirations of our nations.”
EIH CEO Dr. Brook Taye echoed the sentiment and emphasized the significance of this partnership, stating:
“This MoU marks a pivotal step in strengthening the economic ties between Ethiopia and Azerbaijan and to achieve EIH’s strategic objective of serving as the investment gateway to Africa. By leveraging our respective expertise in investment management, we are creating a foundation for impactful collaboration in sectors that drive sustainable economic growth. We look forward to sharing best practices and exploring joint investment opportunities that will be mutually beneficial.”
The signing of this MoU reinforces the commitment of both entities to drive economic transformation, optimize the performance of state-owned enterprises, and explore new investment opportunities in sectors of mutual interest. EIH and AIH will work closely to implement the objectives outlined in the agreement, ensuring long-term collaboration and shared prosperity.
About AIH
Azerbaijan Investment Holding is a Public Legal Entity established according to the Presidential decree of August 7th, 2020. AIH is established to advance the management and operation of the state-owned enterprises under it’s management according to unified principles, as well as ensuring their investment transparency, economic efficiency, financial sustainability, and competitiveness.
About EIH
Ethiopian Investment Holdings (EIH) was established under the Council of Ministers Regulation No 487/2022. EIH aims to contribute to sustainable economic development by professionally managing its funds and assets, optimizing their use in line with international best practices and corporate governance principles. As the strategic investment arm of the Ethiopian government, EIH strives to maximize value for the benefit of current and future generations. Additionally, EIH seeks to attract foreign investment through a co-investment platform, asset consolidation for monetization, and unlocking value from unutilized assets, thereby ensuring the highest possible return on investment.