Ethiopia Pulls in $1.1b in FDI

Jan 16 , 2021

The Ethiopian Investment Commission has reported 1.1 billion dollars in foreign direct investment (FDI) in the agriculture, service and manufacturing sectors during the first five months of the fiscal year. The investments in the three sectors came primarily from China, India and Europe. Attracting foreign direct investment was an immense challenge due to the Novel Coronavirus (COVID-19) pandemic, which caused underachievement of the initial goal of drawing in 1.5 billion dollars in FDI over the same time period. The Commission also launched a web-based platform called the Foreign Direct Investment Tracking Tool earlier last week. Created in collaboration with the Partnership For Investment & Growth in Africa (PIGA) project, the platform aims to track investment inflow and analyse investment performances. PIGA is part of Manufacturing Africa, a flagship programme of the United Kingdom's Foreign, Commonwealth & Development Office, which facilitates foreign direct investment into selected African countries.



A painting depicts traditional farming equipment at the Science Museum around the Arat Kilo area. Since the seizing of power by the current administration, large-scale architectural projects marked by grandeur have proliferated across the capital. The satellite city being built in the Yeka mountains, which is set to cost around 600 billion Br, according to the Prime Minister, is one such project yet to see the light of day. Some estimates put the plot size for the project at around 503hct despit...



A queue for diagnostics at the nation's largest state-owned hospital, Black Lion. As the health sector is largely funded by development partners from abroad, decreased support as donors shied away due to the war in the North has required the suspension of several new projects. Social health Insurance slated for next year was scraped due to a budgetary shortfall of five billion Birr. With the physician-to-patient ratio titering at around 1:30,000, queues in public hospitals are commonplace in Eth...



A street vendor puts up pepper for sale around the Lideta area. With agricultural produce accounting for the largest share of the nation's GDP at around 40pc, setbacks in the delivery of fertilizer have become a source of strife in rural Ethiopia. Only a third of the scheduled fertilizer of 1.3 million quintals has been distributed into the hands of farmers this year. This is despite the year being one in which the government claims to have met local demand for wheat and started exporting. Low p...