Diaspora with 35b Br in Capital Receive Licenses in First Quarter

Nov 23 , 2019

More than 1,032 diaspora investors with a registered cumulative capital investment of over 35 billion Br received investment licenses in the first quarter of the current fiscal year. "The participation of the diaspora business community has become increasingly notable in such sectors as tourism and investment, which have benefited from the transfer of knowledge and technology," according to Awlachew Masre, the Ethiopian Diaspora Agency’s engagement coordination director. The director also noted that more than 4,000 accounts have been opened by the diaspora community at various local banks in the country with deposits of more than 7.9 million dollars. The Agency conducted a consultative forum from November 16–17, 2019, involving federal and regional stakeholders, including representatives from the regional Diaspora Coordination Offices and Diaspora Associations who presented their performance reports for the first quarter of the fiscal year.