UK investors explore investment opportunities in Ethiopia

9 Dec 2019

Invest Africa, a leading UK-based business and investment platform, led another investment mission to Ethiopia from 3rd – 5th December, with the aim of providing delegates with an opportunity to engage with key political stakeholders and connect with leading local businesses who are looking to deepen their relationships with foreign investors.

The visiting delegation included 20 investors drawn from a range of strategic sectors including agriculture, telecoms, logistics, tourism, mining and power.

In one of their first meetings, the minister of Innovation and Technology, Dr Getahun Mekuria highlighted the liberalisation and privatisation agenda that the Ethiopian Government is currently undertaking to attract investors.

When the draft Investment Proclamation materialises, he said, it will help Ethiopia attract more Foreign Direct Investment (FDI).

Abebe Abebayehu, Head of the Ethiopian Investment Commission, together with Ministers of Agriculture, Transport, Mines and Petroleum, and State Ministers from the Ministry of Foreign Affairs and Ministry of Water, Irrigation and Electricity also presented the investment opportunities Ethiopia has to offer to foreign investors.

In discussions, the delegates said they admired the reforms taking place in Ethiopia and expressed their optimism for partnership opportunities.

Former UK Prime Minister’s Trade Envoy to Ethiopia, Jeremy Lefroy said that “the [Ethiopian] government has very ambitious plans to double and triple the current 4.4 gigawatts power generation. And there are UK-based investors who are very much involved in negotiating over, for instance, geothermal, solar, wind and indeed off-grid power generation.”

The delegation also met with President Sahle-Work Zewde (centre)

Manufacturing, agro-processing, especially unleashing the potential of agriculture, by particularly boosting smallholder farming are other attractive areas, he said.

Invest Africa CEO, Karen Taylor said:

“With the growth that Ethiopia has experienced over the last fifteen years at ten per cent per annum or more, the potential for our investors is enormous and that is what is drawing them back to Ethiopia.”

Investors go and take their money wherever they are going to get a good return, the CEO said, adding that “Ethiopia has certainly enormous potential as a market place.”

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