EIH Taps Africa50 Partnership as It Eyes $7.2B Airport and $2.5B Fertilizer Plant
BaseLine Team
19 Jun, 2025
๐๐๐ฉ๐ข๐ญ๐๐ฅ ๐๐ฎ๐ง๐ญ ๐ข๐ง ๐
๐ฎ๐ฅ๐ฅ ๐๐ฐ๐ข๐ง๐
Ethiopian Investment Holdings (EIH) is stepping up its capital mobilization efforts, targeting 7.2 billion dollars for one of Africaโs largest airport projects and an additional 2.5 billion dollars for a urea-based fertilizer plant. The sovereign wealth fund is working with major continental players, including Dangote Group and African development finance institutions, as it positions itself at the center of Africaโs infrastructure drive.
๐๐ก๐ ๐๐ข๐ฌ๐ข๐จ๐ง, ๐๐ญ๐ซ๐๐ข๐ ๐ก๐ญ ๐๐ซ๐จ๐ฆ ๐๐๐ฎ๐ฃ๐
Speaking to CNBC in Abuja, EIH CEO Brook Taye said the capital and talent needed to transform the continent are already within Africa and whatโs needed now is smart, collaborative deployment. EIHโs current five-year strategy focuses on diversification, economic growth, and technology adoption, with an emphasis on expanding key state-owned enterprises, including (Ethiopian Airlines and Ethio Telecom) into new African markets.
๐๐จ ๐๐จ๐จ๐ฆ ๐๐จ๐ซ ๐๐ญ๐๐ซ๐๐จ๐ญ๐ฒ๐ฉ๐๐ฌ
Brook also pushed back against persistent skepticism toward Ethiopian investors operating outside their home turf. He on African stakeholders to look inward for partnerships instead of defaulting to global financial centers.
โWe always exaggerate the burden, not the opportunity.โ Brook Taye (PhD), CEO of Ethiopian Investment Holdings
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๐ข๐ซ๐ฌ๐ญ
EIHโs expansion priorities include Tanzania, Rwanda, and Kenya, building on regional proximity and existing market links.
๐๐๐ซ๐ข๐๐๐๐ ๐๐๐๐ฅ ๐๐๐ญ๐ฌ ๐ญ๐ก๐ ๐๐ญ๐๐ ๐
EIH signed a Memorandum of Understanding (MoU) with Africa50 โ Project Development during the Annual Africa Sovereign Investors Forum (ASIF) in Abuja. The MoU outlines a collaborative framework to identify and develop bankable infrastructure projects in Ethiopia, pairing Africa50โs project development and capital syndication capacity with EIHโs asset portfolio and local insight.
๐๐ก๐๐ญ ๐๐๐๐ก ๐๐ข๐๐ ๐๐ซ๐ข๐ง๐ ๐ฌ ๐ญ๐จ ๐ญ๐ก๐ ๐๐๐๐ฅ๐
EIH, as Ethiopiaโs sovereign investment vehicle, is tasked with managing public assets and attracting both domestic and foreign investment. Africa50, established by African governments and the African Development Bank, focuses on early-stage infrastructure with high development impact across energy, transport, logistics, and digital sectors.
๐ ๐๐ข๐ ๐ ๐๐ซ ๐๐จ๐ง๐ฏ๐๐ซ๐ฌ๐๐ญ๐ข๐จ๐ง: ๐๐ก๐๐ซ๐ ๐๐๐ซ๐ข๐๐๐ง ๐๐จ๐ง๐๐ฒ ๐๐จ๐๐ฌ
The agreement comes as momentum builds across the continent to redirect African capital toward African priorities. At the same forum, Afreximbank President Benedict Oramah slammed the tendency of African sovereign wealth funds to invest offshore, calling it โneo-colonial thinking.โ With over 100 billion dollars in sovereign wealth and 400 billion dollars in forex reserves across the continent (much of it parked abroad) Oramah and other leaders are pushing for a reallocation toward infrastructure, jobs, and climate resilience.
