Ethiopia’s central bank and its nascent capital market authority are preparing tools to allow foreign investment into the country’s exchange, says Brook Taye (PhD), CEO of Ethiopian Investment Holding (EIH). The former Director General of the capital market authority disclosed the development during a networking event organized by the European Chamber in Ethiopia.
Brook, who now heads one of Africa’s largest sovereign wealth funds, indicated that foreign investors will be permitted to participate in the exchange market, with a quota of up to 30%.
“We aim to be a reliable de-risking partner for investors entering the Ethiopian market. This involves taking full responsibility for managing the regulatory aspects of business operations, including land-related matters. Our goal is to allow investors to focus entirely on the business side of their ventures,” the CEO said of EIH’s strategy.
EIH has 40 state-owned enterprises under its portfolio, including Africa’s biggest national carrier, Ethiopian Airlines, and one of the continent’s largest telecom operators in the form of Ethio Telecom. According to the CEO, in the first half of the Ethiopian fiscal year, EIH’s portfolio of companies generated around 901 billion birr.
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