Ethiopia has secured $13 billion in investment deals following a high-profile conference in Addis Ababa, the Ethiopia Investment Commission (EIC) said. The conference aimed to attract foreign capital into a range of strategic economic sectors.
The agreements cover manufacturing, agriculture and agro-processing, energy, construction, and other sectors critical to Ethiopia’s growth, according to the EIC. Notable deals include a $150 million project by Sun King to install off-grid solar systems for homes and businesses over the next five years, and investments of more than $500 million by China’s Liaoning Fangda Group in steel and pharmaceutical manufacturing plants.
The largest portion of commitments, exceeding $10 billion, comes from Ming Yang Smart Energy Group Limited, targeting infrastructure development in renewable energy, hydrogen, and green ammonia projects.
Ethiopia has been actively implementing wide-ranging economic reforms since 2024, including currency liberalisation, removal of foreign exchange controls, and opening key sectors such as financial services to foreign investment. The government aims to leverage these reforms to create jobs and stimulate growth for its rapidly expanding population.
The EIC noted that the investment drive mirrors initiatives in other African frontier economies, with neighbouring Kenya recently announcing $2.9 billion in investment commitments.
