Ethiopian Investment Commission has indicated that the country has attracted $1.1 billion foreign direct investment during the first five months of the year.
IFC, a member of the World Bank Group, has signed its first formal agreements with the Federal Government of Somalia to support the country’s goal to strengthen its private sector, attract investment, improve public services, and create jobs.
The Investment Commission of Ethiopia says the country has half a billion foreign during the first quarter of the country’s current fiscal year. Compared to last year the amount declined 20 percent.
The Government of Ethiopia is preparing a recovery package that will help businesses vandalized by mobs came out to streets in many towns of Oromia region after the assassination of famous Oromo singer Hachalu Hundessa a few months ago.
The Ministry of Finance of Ethiopia said it has suspended the partial privatization of the fully state owned Africa’s most profitable aviation group – Ethiopian Airlines.
Manufacturing industries in Ethiopia remain to be the most promising and lucrative sectors for foreign investors, says head of the top local consulting firm.
With the aim of funding entrepreneurs with promising business idea, the first local Angel Investors group, Addis Ababa Angels (AAA) Network has gone operational this week.
The Government of Ethiopia announced its plan to sell five percent of the share of the fully state owned and only telecom operator in the country, Ethio Telecom.
