Public Enterprises Holdings and Administration Agency (PEHAA) (Ethiopia)
Following the reorganization of the Federal Government Executive organs, Public Enterprises Holding and Administration (the former Ministry of Public Enterprises) has been established in accordance with Article 32 (15) of the definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No.1097/2018.
The Agency shall have the following powers and duties:
Ensure that Public Enterprises have developed strategic and annual plans, approve such plans, supervise, and monitor implementation of same and take corrective measures;
Approve audit reports of Public Enterprises, ensure that corrective measures are taken on audit findings;
Develop modern corporate governance and financial management system to improve the performance and competitiveness of Public Enterprises;
Establish a system to ensure that Public Enterprises are managed by individuals with the right skills, expertise, experience and qualification;
Submit recommendations to the government on potential new investment areas and expansion of existing investments and implement same approval;
Submit proposal to the government on the privatization of Public Enterprises under the auspices of the Ministry and upon approval, implement the same in accordance with the provisions of Proclamation Number 146/1998 and 182/1999
Develop dividend policy, submit recommendation to the Ministry on the amount of the state dividends to be paid to the government by Public Enterprises in each financial year, and follow up the implementation of same;
Provide advice to the Ministry on issues pertaining to the write off of the accounts of Public Enterprises and follow up the implementation thereof;
Develop a system of tracking the aggregate performance of Public Enterprises as a portfolio of investment; submit overall performance report to the Ministry by closely monitoring the financial utilization, acquisition and repayment of loans by public enterprises;
Facilitate conditions under which Public Enterprises allocate sufficient budget for research and innovation and disseminate findings of the research.
Serve as a central depository of data related to Public Enterprises; provide aggregate information of public enterprises.
Without prejudice to the powers and duties assigned to the board under Public Enterprises proclamation No. 25/1992, shall give approval on the appointment and dismissal of chief executive officer of Public Enterprises.
Enterprises exchange their experiences and facilitate training programs that help to build their governance capacity.
Finalize pending restitution claims regarding properties expropriated unlawfully in accordance with Proclamation Number 572/2018 and other relevant laws.
The Agency shall implement the powers and duties given to a Supervising Authority of Public Enterprises by Proclamation No. 25/1992, with respect Public Enterprises made accountable to it.
Carry out other duties that are necessary to protect the ownership interest of the state in Public Enterprises and share companies.See more