Ethiopian Tourist Trading Enterprise generates 760m birr in sales this year

Addis Ababa, August 26, 2022 (FBC) – Ethiopian Investment Holdings (EIH) kicked off annual performance evaluation of portfolio companies on Thursday with the Ethiopian Petroleum Supply Enterprise (EPSE).

On the occasion, CEO of EIH, Mihretu Mamo indicated that in the year marked by global energy insecurity and disruptions, EPSE succeeded in meeting 90pct of its target petroleum imports to Ethiopia.

Building on GoE’s decisive reforms to make fuel subsidy smart and sustainable, EIH supports EPSE aspirations to expand infrastructure and technologies that will secure our energy supply.

Despite the impact of the pandemic continues to linger especially on tourism and travel, Ethiopian Tourist Trading Enterprise (ETTE), Ethiopia’s leading handicraft and duty free retailer generated ETB 760m in sales, a 34pct jump from last year.

“EIH has advised ETTE to deepen its internal controls and modernize operational management so it can showcase the country’s rich culture and heritage to tourists and the world at large,” CEO noted.

In related development, Mihretu Mamo stated that the National Lottery Administration (NLA) increased its sales this year and reached 841 million birr. NLA is currently establishing corporate governance and articulating a business plan and competitive strategy, he said.

NLA will diversify its product offerings, introducing new world class technologies and standards and refit its organizational structure accordingly.