Ethiopian Investment Holdings (EIH), the government’s strategic investment arm, is revitalizing State-Owned Enterprises (SoEs) to drive economic transformation.
EIH CEO Brook Taye (PhD) stated that efforts are underway to enhance enterprise performance through service and product diversification across key sectors. He emphasized the importance of portfolio management, corporate governance, and transparency to expand successful models into other industries.
He noted that Managing SoEs with a commercial mindset and introducing policy incentives are key strategies for creating resilient enterprises. He also highlighted that state corporations significantly contribute to Ethiopia’s economy and citizens’ daily lives.
In the first quarter, EIH paid Birr 5.8 billion in dividends to the government, with a target of Birr 14 billion for the fiscal year. A five-year plan aims to bridge potential budget deficits through revenue diversification.
The CEO underscored Ethiopia’s focus on global market expansion and foreign exchange management to stimulate economic growth. Ethiopian Airlines generated USD 2 billion, while the Commercial Bank of Ethiopia earned USD 800 million last quarter. He affirmed EIH’s commitment to attracting investors and noted that the Ethiopian Securities Exchange will enhance SoE growth.
Source: The Ethiopian Herald
