DAGNACHEW & MAHLET LAW FIRM

DMLF Newsletter
April 2023 |Issue 1|

Sovereign Wealth Fund of Ethiopia

In this issue

ARTICLES: NEWS
● The Santiago Principles and the ● Invest Ethiopia 2023 Conference
Ethiopian Investment Holding

● Brief Overview of the Ethiopian

Investment Holding
FOREWORD

In this April issue the focus has been on Ethiopians Sovereign Wealth Fund. Ethiopian
Investment Holding is the sovereign wealth fund of the Ethiopian government . EIH’s
establishment legislation and EIH’s membership in international organizations shall be the focus
of the Newsletter.

Ethiopian Investment Holding is rated the largest sovereign wealth fund in Africa. The Ethiopian
government has planned to use EIH as its investment arm. Thus, EIH is established by ‘The
Definition of Objectives and Function of the Ethiopian Investment Holding Council of Ministers
Regulation No 487/2022’ with a capital of ETB One Hundred Billion of which ETB Twenty
Five Billion is paid up capital.

After its establishment, EIH has joined its peers in the International Forum of Sovereign Wealth
Fund (IFSWF). IFSWF is the guardian of the Santiago Principles. The later principles guide the
general practice and principles of administration and investment of sovereign wealth funds.

Hope you will have a good read.

By Dagnachew Tesfaye, Managing Partner at DMLF
BRIEF OVERVIEW OF THE ETHIOPIAN INVESTMENT HOLDING
by Luwam Chalachew, Legal Assistant

Ethiopian Investment Holding is a strategic development wealth fund which aims to maximize
the value of state owned assets through professional management leveraging international best
practice. The Ethiopian Council of Ministers approved the creation of Ethiopian Investment
Holding on December 29, 2021. Accordingly the Council of Ministers issued Regulation no.
487/2022 in accordance with Article 103 of the Definition of Powers and Duties of the Executive
Organ Proclamation no.1263/2021. The main point incorporated under the definition of objective
and function of the Ethiopian Investment Holdings Council of Ministers Regulation will be
discussed herein under.

Read more on our website

THE SANTIAGO PRINCIPLES AND THE ETHIOPIAN INVESTMENT HOLDING

By Dagnachew Tesfaye, Managing Partner at DMLF

The Ethiopian Investment Holding (EIH) has joined in May 2022 a global network of sovereign
wealth funds, the so called International Forum of Sovereign Wealth Fund (IFSWF). EIH has
joined as an associate member. Within three years of joining as an associate member, EIH will
assume full membership.

Read more on our website

INVEST ETHIOPIA 2023 ANNUAL CONFERENCE

Invest Ethiopia 2023 is an annual event organized by the Ethiopian Investment Commission. The
forum is held from April 26-28,2023 in Addis Ababa Skylight Hotel. The priority investment
areas include agriculture, manufacturing, ICT, mining and tourism. The forum consisted of
keynote speeches and presentations, panel discussion, selected investment showcasing, regional
investment offices as exhibitors, targeted site visits, sideline events including MoU signings and
networking opportunities of business to business and business to government were held.

Dagnachew & Mahlet Law Firm LLP

Address: Haile Gebre Silase Street, Comet Building, 4th Floor, Office No 406, Office Tel:
+251118637345 E-mail: info@dmethiolawyers.com, Addis Ababa, Ethiopia,
www.dmethiolawyers.com
Disclaimer

The newsletter depicts an overall direction. The newsletter cannot serve as a substitute
for specific cases. The articles are not intended to substitute legal advice. The articles
are informative articles intended to raise awareness and more research. The laws the
contents of the articles have based, through time, may alter, amend, or repealed. We
encourage seeking updated legal advice from professionals.

Except for individual use or non-commercial use permitted by Copyright law, no part of
this newsletter may be reproduced, distributed or transmitted by photocopying,
recording, electronic or other mechanical method without the prior written consent of
DMLF.

Publishing TEAM

Legal Editor

Dagnachew Tesfaye, Managing Partner

Editorial

Mahlet Mesganaw, Partner

Distribution

Helen Woldegebriel

For more information on DMLF Newsletter, email us at info@dmethiolawyers.com