The Council of Ministers approved a regulation that dissolves the Public Enterprises Holding & Administration (PEHA) which managed several state-owned enterprises (SOEs) for over two decades. The regulation approved last week mandates the rights and responsibilities to be transferred to the Liability Asset Management Corporation (LAMC) to enable it to continue privatization efforts, which have been managed by PEHA. In 2021, LAMC was created to manage the consolidation and servicing of a portion of the country’s SOE debt. Established in 2003 as a merger of the Public Enterprises Supervision Authority and the Privatization Agency, PEHA was mandated to oversee the management of SOEs and facilitate their privatization. Recently, Ethiopia’s sovereign wealth fund, the Ethiopian Investment Holdings (EIH) expanded its portfolio, incorporating a number of parastatals, bringing together 40 companies. The latest enterprises to join EIH include Ethio Post, Ethio Engineering Group (EEG), Ethiopian Industrial Inputs Development Enterprise (EIIDE), Ethiopian Railway Corporation (ERC), Industrial Parks Development Corporation (IPDC), Development Bank of Ethiopia (DBE), Ethiopian Electric Power (EEP), and National Veterinary Institute & ShieldVax, both subsidiaries of Ethio Pharma Group. Previously managed by PEHA, these companies operate across critical sectors such as infrastructure, energy, finance, and industrial development.
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