BusinessNews

Ethiopian Investment Holdings Gets New CEO

ADDIS ABABA – Abdurehman Eid Tahir has been appointed to lead the government’s investment arm Ethiopian Investment Holdings (EHI).

The appointment comes days after Prime Minister Abiy Ahmed assigned the Former CEO Mamo Mihretu as governor of the National Bank of Ethiopia (NBE).

The PM has now promoted Abdurehaman, who previously served as deputy CEO of the EHI, to serve as Chief Executive Officer of the EIH, effective as of today, January 25, 2023.

EIH’s former CEO Mamo described his successor Abdurehman as “a passionate reformer and empathetic team builder.”.

“Happy to pass the mantle to a person of his caliber and wish him great success in taking EIH to the next level,” the new governor of the central bank.

Before taking the management position at the EIH, Abdirahman was a key member of the reform team in the Somali Region of Ethiopia. 

“With his energy & competence, he will excel” in his new leadership role at EIH, said Somali region president Mustafe Omer.

Abdurehaman will now be in charge of the EIH – a firm set up in Dec 2021 by the decree of Parliament to act as a sovereign wealth fund for Ethiopia.

The EIH is also tasked to improve the running of the portfolio of state-owned enterprises whose assets are worth some 2 trillion Birr (or $38 billion USD) and annual revenues of $6.2 bn. The assets are 34% of Ethiopia’s economy measured by gross domestic product (GDP).