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Addis Ababa, October 8, 2024 (FBC) – The International Forum of Sovereign Wealth Funds, which monitors such funds globally, recognized the Ethiopian Investment Holdings as Africa’s largest sovereign wealth fund, with assets under management of US$150 billion, according Pindula, a Zimbabwean media outlet. The Ethiopian fund holds over 30 state […]
Addis Ababa, October 8, 2024 (FBC) – Ethiopian Investment Commission (EIC) and China’s Chongqing Kunhuang International Industry Group (CKIIG) have signed a Sub-Developer Agreement for sub-development of a parcel of land within the Gada Special Economic Zone. It was mentioned that CKIIG aims to develop and implement its project in […]
Addis Ababa, October 7, 2024 (FBC) – The newly appointed president of the Federal Democratic Republic of Ethiopia, Taye Atske-Selassie said that his country has obtained more than 21.5 billion USD of foreign currency in the 2023/24 fiscal year from various sectors. The president made this remark while presenting the […]
Ethiopia’s private sector is experiencing a significant surge in investment, with over $2 billion committed to new projects following recent policy and legal reforms. The introduction of a new Investment Proclamation has opened numerous sectors to foreign investors, resulting in a wave of business activity. According to the Ethiopian Investment […]
Lemi National Cement, which was the first to invest a significant amount in a greenfield project and formally opened a week ago, plans to expand further in order to increase its output by double. The facility was built with a USD 600 million joint venture (JV) investment by the leading […]
Senior officials of the Ministry of Finance are racing to establish a regulatory framework that breathes life into the nascent capital market. The plan is to integrate incentives into an income tax law that has remained unaltered for over two decades. The officials’ latest considerations follow a comprehensive policy recommendation […]
Manufacturers press federal authorities to speed up the transformation of industrial parks into special economic zones (SEZs), a shift they see as vital to their survival during mounting economic pressures. A lobby group of 18 investors operating in the Hawassa Industrial Park (HIP) recently penned a letter conveying the desperation […]
Ethiopia’s National BRICS Ministerial Steering Committee, which convened its session on October 3, 2024, disclosed that it has finalized Ethiopia’s BRICS Engagement Strategy, which has been reviewed over the past few months. According to the Ministry of Foreign Affairs, the Strategy will provide overall guidance for Ethiopia’s engagement as part […]
Overview of Ethiopia’s Business and Investment Landscape Ethiopia’s macroeconomic environment is undergoing significant changes, particularly in its business and investment landscape. Traditionally characterized by state-controlled policies, the country is now witnessing a shift towards more market-oriented reforms aimed at stimulating economic growth and attracting foreign investment. Recent Economic Developments As […]
Addis Ababa, October 2, 2024 (FBC) – Ambassador Bizunesh Meseret, Chrgée d’Affaires of the Ethiopian Embassy in New Delhi, briefed a group of Indian IT companies delegates on the business and investment opportunities in Ethiopia. On the occasion, Ambassador Bizunesh highlighted her country’s digital transformation agenda, dubbed as “Digital Ethiopia […]
Addis Ababa, October 2, 2024 (FBC) – Guangzhou Wondfo Biotech Co., Ltd, a Chinese company that produces 200 million medical test kits annually, has stated that it is ready to invest in the Qilinto Industrial Park, in Addis Ababa. The company’s plan was disclosed during a discussion between Chief Executive […]
Regulators at the National Bank of Ethiopia (NBE) have granted licenses to five non-bank forex bureaus. The entrance of Dugda Fidelity Investment PLC, Ethio Independent Forex Bureau, Global Independent Forex Bureau, Robust Independent Forex Bureau, and Yoga Forex Bureau marks a significant milestone in the country’s fast-changing forex market. The […]