Ethiopian Investment Holdings (EIH) launched its mid-year performance review for its portfolio companies, displaying mixed results for the first half of the fiscal year. Ethiopian Sugar Industry Group (ESIG) reached 95.3pc of its sales goal, selling 64,190tn of sugar for 6.1 billion Br—a 132pc year-on-year growth—despite capacity and supply issues. The Ethiopian Petroleum Supply Enterprise (EPSE) met 92pc and 97pc of its purchase and sales targets, respectively, stating it has benefitted from recent digitization efforts. The EIH leaders advised EPSE to monitor subsidies and gradually alleviate pressure on the stabilization fund in line with the recent macroeconomic changes. The Ethiopian Industrial Inputs Development Enterprise (EIIDE) also excelled, achieving 47pc year-over-year revenue growth and meeting 95pc of planned targets. It successfully sourced 86pc of its strategic procurement targets. EIH officials recommended strengthening supply chain management and diversifying market offerings to enhance efficiency. Meanwhile, the Educational Materials Production & Distribution Enterprise (EMPDE) secured only 38pc of its revenue target, and 22pc of its planned profit for the period. Also, the Ethiopian Railway Corporation (ERC) saw revenues of 190.4 million Br from construction and other businesses while it battles financial struggles due to foreign debt and project delays. EIH has instructed ERC to prioritize financial audits and resume stalled projects, emphasizing the need for financial restructuring and better risk management.
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