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Ethiopia: Ethio Engineering Group Aims to Generate Birr 14.6 Billion

EEG LogoThe Ethio Engineering Group (EEG) has set an ambitious target of generating more than Birr 14.6 billion in revenue from its operations during the current fiscal year, marking a substantial increase compared to the Birr 490 million it earned last year.

EEG is actively focused on producing exportable goods and securing foreign exchange earnings. Additionally, the company is dedicated to expanding and diversifying its market while ensuring the high quality of its products. Suleiman Dedefo, the CEO of EEG, credited the company's enhanced performance to the series of reforms implemented in recent years. These reforms have been instrumental in transitioning EEG from a mere assembly plant to a fully-fledged manufacturing facility.

The improved performance of EEG aligns with the overall success of the Public Holding Enterprises and Administration Agency (PEHA). Habtamu Hailemichael, the Director General of PEHA, announced that the agency's enterprises achieved a remarkable profit of over 8 billion Birr and a total revenue of Birr 40 billion during the reported period.

This significant improvement stands in stark contrast to the previous year, when PEHA's enterprises incurred a loss of Birr 1.5 billion.

Source: The Ethiopian Herald