During its 3rd regular session on yesterday 29 December 2021, the Council of Ministers deliberated on draft law introduced to regulate objectives and mission of Ethiopian Investment Holdings and after approved the establishment of Ethiopian Investment Holdings (EIH).
Ethiopian Investment Holdings, designed with a similar model to other countries sovereign wealth fund management entities, is tasked to incorporate public resources under a single institution and create effective administrative system for the state-owned companies to earn a high return.
EIH sets out to maximize the value of state-owned assets through professional management and adoption of international best practices. EIH applauded the role Chapa Financial Technologies S.C in the establishment of Ethiopia’s Sovereign Wealth on Twitter.
The Council of Ministers has decided to make the law effective after it is published on the Federal Negarit Gazette.
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