Addis Ababa, Ethiopia – December 4, 2024: Ethiopian Investment Holdings (EIH) is pleased to announce the successful addition of several key State-Owned Enterprises (SOEs) to its portfolio. According to the Council of Ministers Regulation No. 487/2022, Article 8, following a decision by the EIH Board of Directors, the companies formerly under the Public Enterprises Holding and Administration portfolio will now be owned and managed by EIH. These include Ethio Post, Ethio Engineering Group, Ethiopian Industrial Inputs Development Enterprise, Ethiopian Railway Corporation, Industry Parks Development Corporation, Developmental Bank of Ethiopia, Ethiopian Electric Power Corporation, Subsidiaries of Ethio Pharma Group National Veterinary Institute & ShieldVax.
This strategic addition marks a significant milestone for EIH as it expands its efforts to reshape the management of Ethiopia’s state-owned enterprises. With these additions, EIH will drive the transformation of these institutions through active ownership, professional management, and a commitment to attracting investment aimed at enhancing economic productivity and growth across key sectors of the Ethiopian economy.
Dr. Brook Taye, CEO of Ethiopian Investment Holdings, expressed his enthusiasm about the expanded portfolio, stating: “We are thrilled to welcome these exceptional enterprises into the EIH family. This addition will further strengthen our mission as the strategic investment arm of the Government of Ethiopia. At EIH, we are committed to creating wealth to finance development and ensuring a high-quality standard of living for future generations. These SOEs are integral to Ethiopia’s industrialization and growth ambitions, and we are confident that through our focused, professional management and active ownership, we will bring these organizations to new heights of performance and innovation. Our goal is to modernize Ethiopia’s state-owned enterprises, enhance their global competitiveness, and ensure they play a pivotal role in the country’s economic success by diversifying their activities.”
With the inclusion of these SOEs, EIH’s portfolio grows stronger, encompassing key sectors of the economy, from infrastructure and energy to finance and industrial development. This expansion underscores EIH’s role as a catalyst for innovation, growth, and sustainable development in Ethiopia.
EIH will focus on supporting these enterprises to maximize their potential through strong corporate governance, operational efficiency, and strategic investments that align with national priorities, while also prioritizing the attraction of both local and international investors and fostering partnerships that drive growth and create long-term value. This expansion is a key part of EIH’s ongoing mission to streamline and professionalize the management of state-owned enterprises, ensuring they become more competitive, efficient, and capable of securing the investments needed to support Ethiopia’s growth trajectory.
About Ethiopian Investment Holdings
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.