Jan 28 , 2023
Abdurahman Eid Tahir has been appointed as the Chief Executive Officer of Ethiopian Investment Holdings (EIH), a state-owned investment company, effective on January 25, 2023. The appointment comes days after Prime Minister Abiy Ahmed assigned the former CEO Mamo Mihretu as governor of the National Bank of Ethiopia (NBE). Abdurahman served as deputy before his appointment, in which Mamo described him as a "passionate reformer". He also served as head of Irrigation & Basin Development of the Somali Regional State. EIH was established last year by a decree of the Council of Ministers with 100 billion Br capital, encompassing nearly thirty state-owned enterprises such as Ethiopian Airlines and Ethiotelecom under its fleet. Its subsidiaries are found in multiple sectors with more than 250,000 employees. The holding has attracted sizable investment by establishing a co-investment platform in partnership with global investors. In addition, EIH has been mandated with seeing through the formation and establishment of the capital market, a responsibility regulators had previously shouldered at the central bank. The investment holding, under Abdurahman, is now tasked to improve the portfolios of state-owned enterprises whose assets are worth two trillion Birr and annual revenues of 6.2 billion dollars. EIH is mandated to take on international investment ventures in which dividends from enterprises under it are exempt from taxes and duties, excluding sub-funds and companies invested by the company.
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