Wealth Fund Gains Access to International Forum

May 21 , 2022


Ethiopian Investment Holdings has been approved as an associate member of the International Forum of Sovereign Wealth Funds, a global network of sovereign wealth funds from over 40 countries. It includes some of the world's largest sovereign wealth funds such as the China Investment Corporation, and the Kuwait and Abu Dhabi investment authorities. Ethiopian Investment Holdings was formed earlier this year with an approved capital of 100 billion Br. In February, Mamo Mihretu was chosen to lead the fund as chief executive officer (CEO). It sources funding from a pool of state-owned assets it administers; returns and revenues on the investment of the proceeds of its assets; sales of its assets and enterprises; and loans and other facilities such as bonds.


Radar

Pivots in Business Maze

A set of projects spearheaded as part of ease of doing business reform with a 7.2 million euro finance from the European Union (EU) is set to improve and navigate the lingering concerns in Ethiopia's business landscape. E-governance projects are undertaken by GIZ International Services and Mckinsey & Company in cooperation with five federal agencies, including the Justice, Trade,  Innovation, Revenues ministries and National Bank of Ethiopia (NBE) are part of the wider plan to improve the d...


Radar

Dashen Bank Board Reinstates its Chair

Dashen Bank re-appoints Dula Mekonnen as its Board Chairman, extending his tenure for another three years. The decision was made during a board of directors meeting held at the Sheraton Addis Hotel last week. Dula holds a first degree in electrical engineering from the Adama Science & Technology University and a graduate degree in business management. With a diverse leadership background spanning three decades, Dula has served as a manager at Ethio-Leather Industry Plc and managed Wenji S...


Radar

Digital Fuel Transactions Soar Amid Subsidy Drop

Nationwide digital fuel transactions have exceeded the 155.4 billion Br mark, as the Ethiopian Petroleum & Energy Authority released a half-year report last week. Consistent reductions in fuel subsidies have led to the fuel price stabilisation fund hitting an all-time low of 117.4 billion Br, a decrease of 79.6 billion compared to the previous year. The report highlights the successful monitoring of subsidies across the country's 1,589 fuel stations, benefiting nearly 200,000 transporters...


Back
WhatsApp
Telegram
Email