One of Ethiopia’s biggest de-facto conglomerates, East African Holding, registered a turnover of five billion Birr in the past fiscal year. While this is almost equal to an income of a big private bank, such a performance makes the Holding one of the most profitable private entity in Ethiopia. Having 17 subsidiaries, East African Holdings in engaged in the manufacturing of fast moving consumer goods, tea processing, printing and packaging, transport, real estate, cement production and coal mining.
“Our business philosophy played a vital role for our success. We have deployed a decentralized system to perform our day to day activities and become very transparent, both of which helped us a lot to be very successful, said Buzuayehu T. Bizenu, Group Chairperson of East African Holdings, during his interview with EBR. “Thanks to our success, we have paid half a billion Birr in taxes last fiscal year.”
National Cement Factory, East African Tigers, East African Real Estate and Hamaress Oil Factory are amongst renowned subsidiaries of East African Holdings. Being a leading industrial group in Ethiopia with a prominent role in the industrialization of the country, the de-facto conglomerate is engaged in over 100 products from various sectors, besides being involved in the export and domestic supply of Ethiopian coffee and tea. It has created job opportunities for over 5000 people.