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.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...