Ethiopia’s Faydaverse Integrates into the Sovereign Wealth Fund Portfolio

Ethiopia’s National ID Program has been transitioned into a State-Owned Enterprise (SOE) called Faydaverse. The new entity has been incorporated into the portfolio of the Ethiopian Investment Holdings (EIH), the country’s sovereign wealth fund. This move marks a significant shift from a government project to a commercially sustainable and institutionalized body. The development was announced during an inauguration event. Faydaverse is now part of the EIH’s portfolio, indicating a notable evolution in the program’s structure and operation.

Article source: capitalethiopia.com | Image credit: Capital Newspaper