Ethiopian Investment Holdings (EIH) announced a remarkable performance in the first nine months of the current fiscal year, generating revenues of 1.5 trillion birr—an 86% increase compared to the same period last year.
The state-owned sovereign wealth fund, which manages a growing portfolio of 40 public enterprises, plays a central role in the national economy. Its holdings include major players like Ethiopian Airlines, Ethio telecom, Commercial Bank of Ethiopia, and Ethiopian Shipping and Logistics.
In December, EIH further expanded its portfolio by incorporating several key enterprises, including Ethio Post, Ethio Engineering Group, Ethiopian Industrial Inputs Development Enterprise, Ethiopian Railway Corporation, Industrial Parks Development Corporation, Development Bank of Ethiopia, and Ethiopian Electric Power Corporation.
During the reporting period, EIH reported foreign currency earnings of 9.3 billion birr, marking a 10.5% increase from the previous year. It also contributed significantly to the national budget by paying 98 billion birr in taxes.
The enterprises under EIH’s management disbursed a total of 19 billion birr in dividends to the state—a nearly 30% year-on-year rise. Of that amount, 14.5 billion birr has already been deposited into the Ministry of Finance’s account, according to officials.
Globally, EIH ranks 34th among the world’s largest sovereign wealth funds, managing assets valued at nearly USD 45 billion. According to the Sovereign Wealth Fund Institute (SWFI), it is also now the largest sovereign wealth fund in Africa, surpassing the Libyan Investment Authority. At the top of the global list sits Norway’s Government Pension Fund Global, with assets exceeding USD 1.7 trillion.
Source: The Reporter
