Investment Holdings Charts Profitable Course

Dec 12 , 2023


[ssba-buttons]

Ethiopian Investment Holdings (EIH), has garnered 250 billion Br in revenues, where three of its 26 companies contributed a third of the figure. National carrier Ethiopian Airlines, the Commercial Bank of Ethiopia (CBE) and the Ethiopian Petroleum Supply Enterprise (EPSE) contributed around 76pc of the revenues for the country's sovereign wealth fund, in the first quarter of the year. Last year, EIH amassed 924 billion Br in revenues and 114 billion Br in profits with a margin of 12.4pc and 90pc coming from five companies. CEO Abdurahman Eid-Tahir presented the first quarter report to the parliament's Standing Committee on Public Enterprise Affairs last week. He revealed that only three of the companies under his oversight (Ethiopian Mineral Corporation, Ethiopian Sugar Corporation and the Ethiopian Pulp & Paper Enterprise ) registered losses, while the Holdings amassed 35.5 billion Br profits. The CEO suggested that public-serving companies like Ethiopian Electric Utility (EEU) are not expected to make significant profits as long as they provide sufficient services to customers. "EEU needs support from other stakeholders," he stated Abdurahim was pleased with Ethiotelecom's performance, maintaining an impressive 45pc profit margin for most of its services, while he forecasted Ethiopian Airlines as the company with the most promising growth trajectory. "A new airport is necessary," he commented. Ethiopian Shipping & Logistics (ESL), which has a monopoly on the country's logistics sector, grew unsurprisingly while it remains plagued by a ballooning receivables account of eight billion Birr. A five-year strategic plan to enshrine reforms and realise sustained growth for the companies is underway, according to the Abdurahim, who revealed that five companies have been slated for registration at the budding Ethiopian Securities Exchange (ESX).


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...