Mamo Mihretu Bio, Wiki, Age, Linkedin, World Bank, Twitter, Net Worth and more
Table of contents
- Mamo Mihretu Biography, Wikipedia, Age, Linkedin, World Bank, Twitter, Net Worth and more
- Biography of Mamo Mihretu
- Career Mamo Mihretu
- Mamo Mihretu Age
- Mamo Mihretu is linked in, Twitter
Mamo Mihretu Biography, Wikipedia, Age, Linkedin, World Bank, Twitter, Net Worth and more
Biography of Mamo Mihretu
In addition to the role of Chief Trade Negotiator, Mr. Mamo Mihretu is also a Senior Policy Advisor to the Prime Minister of Ethiopia. Mr. Mamo was a Senior Private Sector Specialist for the World Bank Group before joining the administration of Prime Minister Abiy Ahmed. During his time there, he oversaw the implementation of various programs in Ethiopia, including programs for trade logistics, tax simplification, business regulation and investment promotion. Mr. Mamo is a highly trained attorney and has a variety of academic qualifications, including a Master of Public Administration from the Harvard Kennedy School, a Bachelor of Laws from Addis Ababa University, and certificates in commerce and investment. International Fund of the University of Amsterdam. Mr. Mamo is recognized by the Financial Times as one of the rising young technocrats guiding Ethiopia’s comprehensive reform initiative.
Career Mamo Mihretu
The Ethiopian Prime Minister has assigned Mamo Mihretu, who was his policy adviser and chief trade negotiator, in charge of Ethiopia’s sovereign fund.
Mamo has been appointed the first chief executive officer (CEO) of state-owned investment firm Ethiopian Investment Holdings (EIH). It was established by a decree from the Council of Ministers last month. The Prime Minister is in charge of a council of six directors.
The fund is allowed to have 100 billion Br in capital, but only 25 billion Br will be paid out. It receives money from a group of state-owned properties it manages, from interest and investment income, from the sale of its assets, from the sale of its properties and businesses, and from loans and other sources such as bonds. Blen Mammo, senior economic adviser to the Ministry of Finance, said that it was set up like 10 similar funds in Africa. It is called a sovereign wealth fund.
Mamo has worked on reforms in the economic, legal and logistical fields for more than 16 years. He is one of the “young liberal technocrats” with international experience who have joined the government of Prime Minister Abiy Ahmed (PhD). He had a child. Eyob Tekalign (PhD), the state finance minister, and Abebe Abebayehu, who headed the Investment Committee for the first two years after 2018, joined the government with the promise of economic change from the regulatory government. move to private equity management in a competitive market.
Mamo was in charge of the World Bank’s work in Ethiopia on finance, competitiveness and trade for eight years before he joined the government in 2018. He worked in the Prime Minister’s office, where he mainly talks about trade issues such as the African Continental Free Trade Area (AfCFTA). Mamo went to Addis Abeba University to study law. He then went to the universities of Pretoria and Amsterdam to complete a graduate degree in law. He also took classes on leadership and economic growth at the Kennedy School of Government at Harvard University.
The EIH has requested participation in the International Forum of Sovereign Assets Funds (IFSWF), a group of 40 sovereign wealth funds that includes China Investment Corporation, the Kuwait Investment Authority and the Investment Authority of China. Abu Dhabi, among other organisations. Blen says an agreement has been made and the company will join as an associate member.
Ethiopian Investment Holdings wants to take care of 24 state-owned enterprises (SOEs). Potential assets under its management include state-owned businesses and properties, joint stock companies and financial institutions, state-owned land and property, and other tangible and intangible assets in which the federal government has a stake. Blen told Fortune they’re using portfolio management to figure out which businesses to take on in the first stage of operations.
“We want to make sure that all of our assets are used,” Blen said.
The Public Enterprise Administration and Administration is in charge of about 36 public companies. About half of them, such as the Ethiopian Railways Corporation (ERC), Ethiopian Electricity (EEP) and the Land Bank & Development Corporation (LBDC), came under their control earlier this year.
Sources with knowledge of the situation say that the Agency will not be dissolved. It will continue to operate state-owned businesses that will not be awarded to Ethiopian Investment Holdings.
However, experts warn that there should be good reasons to invest in certain sectors.
“In the past, market failures were used as an excuse for the government to invest in certain sectors,” said a financial analyst named Abdulmenan Mohammed.
Most of these investments, he said, are “troubled” with corruption, waste and inefficiencies that make him doubt the state’s ability to run a company of this size.
The fund is supposed to take on divestment projects both in the United States and abroad. Dividends from businesses that are part of the Fund are not subject to taxes or fees, but this does not apply to sub-funds or companies that the EIH invests in.
Sovereign wealth funds such as those in India and the United Arab Emirates (UAE) do not pay taxes on infrastructure investments. Last year, the Abu Dhabi Wealth Fund received tax breaks for investments it plans to make before 2024 in textile parks, agricultural markets, telecommunications towers and power plants. Million Kibret, managing partner of BDO Ethiopia, an investment advisory firm working for BDO East Africa, said that while this helps companies stay competitive in the global market, it has may harm private businesses serving the domestic market.
Mamo Mihretu Age
At the time of this writing, his age is unknown.
Mamo Mihretu is linked in, Twitter
Twitter: Mamo Mihretu https://twitter.com/mihretum
Link: Mamo Mihretu https://et.linkedin.com/in/mamomihretu
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