By Muluken Yewondwossen
Ethiopian Investment Holdings (EIH) has announced plans to reenter the global stock market by investing in multinational corporations. This marks Ethiopia’s return to international equity markets after more than a century, following Emperor Menelik II’s investments in New York stocks in the late 19th century.
According to Brook Taye, CEO of EIH, the sovereign wealth fund is in the final stages of acquiring stakes in foreign companies through Euronext Paris, the Paris stock exchange. This strategic step signals Ethiopia’s ambition to diversify its investments and strengthen its presence in the global financial system.
EIH currently oversees some of Ethiopia’s largest and strategic 34 state-owned enterprises, including Ethiopian Airlines Group, Commercial Bank of Ethiopia, Ethio Telecom, and Ethiopian Shipping and Logistics. These entities form the backbone of the country’s economy and provide EIH with the financial foundation to pursue international investment opportunities.
