1 min readADDIS ABABA – Ethiopian Investment Holdings (EIH), a national sovereign fund, managed to generate close to 250 Billion Birr in first-quarter revenue from state-owned companies in its portfolios. CEO Abdurahman Eid Tahir presented the EIH first quarter performance report to the parliament’s Public Enterprises Standing Affairs Committee Wednesday. Ethiopian Investment Holdings has also reported a 36.5 Billion Birr in gross profit. “Together with CBE, three companies contributed 87 percent of the profit recorded in the first quarter,” the CEO said. While 23 enterprises in EIH portfolio record positive financial performance, Ethiopian Mineral Corporation, Ethiopian Pulp and Paper Factory, and Ethiopian Sugar Industry Group continue to incur losses.

Source: Ethiopian News December 08, 2023 02:33 UTC