Ethiopian Investment Holdings (EIH), the country’s sovereign wealth manager, continued its annual performance dialogue on day two, with updates from its hospitality, power, and engineering portfolio companies. The reviews underscored steady revenue growth in hotels, strong expansion in electricity access, and rising regional ambitions in engineering services.
Hospitality Sector
Ghion Hotel and Spa, one of Addis Ababa’s oldest hotels, reported revenue growth of roughly 12% year-on-year. The state-run property has leaned on conferences, weddings, and social events to sustain occupancy, though guest feedback still points to service and maintenance gaps.
Genet Hotel, positioned in the mid-market segment, delivered more modest but stable growth of 8–10% annually, supported by tighter cost controls. Meanwhile, Hilton Addis Ababa, operated under a management contract, continues to set the benchmark for the capital’s luxury segment. Following recent refurbishments, the hotel has remained a preferred venue for conferences, diplomatic gatherings, and high-end business travel.
Utilities
Ethiopian Electric Utility (EEU) reported a 20.65% revenue increase in the 2017 Ethiopian fiscal year, reaching 63.12 billion birr. The utility connected nearly 150 rural kebeles, extending electricity to more than half a million new customers. The company has also reduced service interruptions, a key issue for both households and industrial users.
Engineering
Ethiopian Engineering Corporation (EEC) posted 8.9 billion birr in revenue, an 81% year-on-year increase, and achieved 117% of its annual budget target. Operationally, it completed nearly 95% of planned projects. EEC also expanded into regional markets, winning contracts in Nigeria and Tanzania worth $1.1 million.
EIH emphasized the need for continued improvements in service quality and efficiency across its hospitality portfolio, while urging utilities and engineering firms to broaden financing sources and pursue sustainable growth strategies.
