Ethiopian Investment Holdings (EIH) earned 257 billion birr in the first quarter of the current fiscal year from state-owned enterprises (SOEs) it oversees, with Ethiopian Airlines and Ethio Telecom accounting for approximately 80% of revenues, according to CEO Abdurahiman Eid.
While these companies continue to be leading revenue generators, the Holding recognizes the need to support strategic expansion initiatives that will keep them competitive in the long run, according to Abdurahiman.
He cited the construction of a new international airport in Bishoftu by Ethiopian Airlines, as well as efforts to increase the use of sustainable aviation fuels, as examples of important investments.
"Investing in modern infrastructure and new technologies ensure our biggest revenue contributors like the national carrier remain sustainable for years to come," he told lawmakers.
In the first quarter, Ethiopian Airlines alone generated 102 billion birr, solidifying its status as EIH's top earner.