Ethiopia’s state-owned enterprises generated more than 1.3 trillion birr in revenue during the first six months of the current Ethiopian fiscal year, according to Ethiopian Investment Holdings (EIH), the government’s investment arm.

The figure marks a 51 percent increase from the same period last year, EIH Deputy Chief Executive Officer Habtamu Hailemichael told the Ethiopian News Agency.

Habtamu said the improvement followed reforms aimed at strengthening governance, auditing and asset management across public enterprises.

EIH currently oversees 41 public enterprises after consolidating them under a single holding structure designed to modernise oversight and improve financial discipline.

Habtamu said the reform programme was launched to address structural weaknesses that had long affected state-owned companies, including recurring losses, weak audit systems and governance gaps.

EIH has introduced a modern auditing framework, enabling several enterprises to shift from financial distress to profitability. Prior to the reforms, many public firms were operating under severe financial strain, with some close to collapse.

He added that leadership and management changes have begun to improve accountability and operational performance, contributing to higher revenue generation.

Transportation and logistics enterprises accounted for a significant share of earnings during the six-month period.

Ethiopian Airlines, Ethio Telecom, the Commercial Bank of Ethiopia, Ethiopian Maritime Transport and Logistics, and the Ethiopian Petroleum Supply Enterprise together generated about 80 percent of total revenue.

Public enterprises under EIH contribute roughly 12 percent of Ethiopia’s gross domestic product and remain among the country’s largest taxpayers. In the previous Ethiopian fiscal year, the enterprises paid more than 228 billion birr in taxes to the federal government.