Public enterprises generated a total of 271.3 billion birr in revenue in the first half of the current fiscal year 2021/22, exceeding their target by 103 percent.
According to Habtamu Hailemichael, General Director of the Public Enterprises Holding and Administration (PEHA), revenue climbed by 60%, or 101.6 billion birr, over the same period last year.
The majority of revenues were obtained by companies that provide transportation and logistics, banking, and telecommunication services, accounting for 56.2 percent, 23.4 percent, and 10.4 percent of total revenues, respectively.
According to the agency, agriculture and agro-industry, manufacturing, construction, and trade and services accounted for the remaining 10%. According to the Agency, the companies made a profit of approximately 52 billion birr after taxes. This has also increased by 96.7 percent, according to the General Director, to 25.5 billion birr.
During the last six months, firms have created 12260 jobs and invested $2.38 billion in social responsibility. Women account for approximately 22% of newly hired staff, said the agency.
Source: Ethiopian Monitor
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