Sinopia News Top

Ethiopia: Public Enterprises' Assets Soar to Birr 1.7 Trillion

PEHA lOGOThe assets managed by Public Enterprises Holding and Administration Agency have reached Birr 1.7 trillion.

The organizations have achieved a profit of eight billion birr and created employment opportunities for 20,000 citizens. Habtamu Hailemichael, Director General of the Agency, highlighted that Birr 604 million from these profits have been allocated to social responsibility initiatives.

The Agency has reported the preparation of operating manuals for company privatization and the collection of Birr 739 million in arrears from privatized institutions. Efforts to maintain financial security, improve capital, and increase loan repayment rates are ongoing.

Despite these successes, the Administration faces challenges such as foreign exchange shortages, property expropriation, inflated land rent payments, and infrastructure theft. Future priorities include improving accounting practices, enhancing coordination, and strengthening debt repayment and monitoring.

Source: Addis Zemen