Ethiopia seals $13 billion worth of deals at investment conference

Ethiopia has secured $13 billion worth of investment deals, the state investment commission said, after a conference aimed at attracting capital into a range of economic sectors.

Like other frontier economies in Africa, the Eastern African nation has been seeking to boost foreign direct investment, particularly in manufacturing, to create jobs for its growing population. Neighbouring Kenya held a similar drive last week, announcing deals worth $2.9 billion.

The deals signed by Ethiopia at the conference in Addis Ababa, which ended on Friday, span "manufacturing, agriculture and agro-processing, energy, construction, and other strategic sectors," the Ethiopia Investment Commission (EIC) said in a statement seen by Reuters on Sunday.

Chinese firms account for most of the investment commitments.

Ethiopia has been implementing wide-ranging economic reforms since 2024, including liberalising its currency, lifting foreign exchange controls, and opening up key sectors such as financial services.