Business Ethiopian Investment Holdings Celebrates Revenue Jump
April 19, 2025
EIH paid 98 bln in taxes over nine months
Ethiopian Investment Holdings (EIH) reported revenues of 1.5 trillion birr over the first three quarters of the financial year, registering an 86 percent increase compared to the same period last year.
EIH currently oversees a portfolio of 40 state-owned enterprises, including giants like Ethiopian Airlines, Ethio telecom, the Commercial Bank of Ethiopia, and Ethiopian Shipping and Logistics, effectively placing a substantial portion of the nation’s wealth under its management.
It added a slew of SOEs to its portfolio in December, including Ethio Post, Ethio Engineering Group, the Ethiopian Industrial Inputs Development Enterprise, Ethiopian Railway Corporation, Industrial Parks Development Corporation, Development Bank of Ethiopia, and the Ethiopian Electric Power Corporation.
EIH reports 9.3 billion in foreign currency earnings over the reporting period, up 10.5 percent from last year. It paid a total of 98 billion birr in taxes.
The SOEs under it generated 19 billion birr in state dividends, nearly 30 percent higher than last year’s figure. Of this, 14.5 billion birr has been deposited with the Ministry of Finance, according to a report from Finance officials.
Ethiopian Investment Holdings is ranked as the 34th biggest sovereign wealth fund in the world, with nearly USD 45 billion in assets. The Sovereign Wealth Fund Institute’s (SWFI) latest ranking places EIH as the biggest sovereign wealth fund in Africa, beating out the Libyan Investment Authority for the top spot on the continent. The Norway Government Pension Fund Global is by far the biggest sovereign wealth fund in the world, with over 1.7 trillion dollars in assets.