Ethiopia’s strategic investment arm, the Ethiopia Investment Holdings (EIH) is weighing modalities to take over the activities of the Land Bank Development Corporation (LBDC), the Addis Ababa based thrice weekly newspaper EthiopianReporter disclosed on Saturday.
EthiopianReporter disclosed Executives of EIH are reviewing modalities to take over the mandate of the LBDC.
If approved, EIH will be directly responsible for managing and developing landholdings held by federal government institutions and State owned Enterprises, the EthiopianReporter further disclosed.
While the study is underway, the Corporation has reportedly started transferring the documents and projects studies to the Ethiopian Investment Holdings.
LBDC established in 2018 as a State Owned Enterprise is tasked with identifying, managing and developing land holdings under federal institutions and SOEs.
EIH, Ethiopia’s version of the sovereign wealth fund was established in January 2022 with 100-billion-birr authorized capital and incorporating 27 SOEs.
Land is effectively owned by the state in Ethiopia and the way its managed has been an issue of contention among the country’s population for decades now.
