Ethiopia to introduce new state company

The Government of Ethiopia is set to introduce a new investment company, labeled Ethiopia Investment Holdings (EIH).

The Council of Ministers of Ethiopia on Wednesday gave green light for the establishment of EIH after discussing on the draft law and reflecting on the mission and goals of the new state company.

EIH aims to bring together government resources under one company so that the resources will be properly managed and contribute to the overall economy of Ethiopia.

The Government plans to make EIH a strategic development and investment tool that can contribute to the economic growth of Ethiopia and competitiveness of its overall economy.

Mostly because of mismanagement most of the properties of different government ministries and agencies have been left unproductive or abandoned and are exposed to emblements. These state properties include, land, buildings, machineries, and vehicles and their spare parts, among others.