Ethiopia Shifts Ownership of 10 Firms to Sovereign Wealth Fund
The firms include Ethiopian Railway Corp.
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Ethiopia transferred ownership of 10 state-owned companies to the government’s sovereign wealth fund as part of steps to improve their management.
The firms include Ethiopian Electric Power, Ethiopian Railway Corp. and the Development Bank of Ethiopia, which serves as a policy bank. The companies oversee mega infrastructure projects such as the Ethio-Djibouti railway, the giant Great Ethiopian Renaissance Dam along with 13 industrial parks.