Land Corp. Aspires for $2b in Foreign Capital

Oct 22 , 2022


[ssba-buttons]

Executives of the federal Land Bank & Development Corporation (LBDC) aspire to lure foreign investment they estimate will reach two billion dollars. They plan to host a two-day investment forum dubbed "Invest Origins" at the end of January next year. They hope the platform will mobilise international capital to diversify investment opportunities in Ethiopia. Land Bank & Development Corporation is one of the 28 corporations under the Ethiopian Investment Holding Group, managed by Mamo Miheretu. The state-owned Corporation envisions placing Ethiopia among the five international investment destinations for property development. It has invited public and private sectors to join the partnership and attract high-calibre investments into the market. The Corporation anticipates making investment deals through joint ventures or partnerships. The Chief Executive Officer (CEO), Lensa Mekonnen, wants to see the forum attract foreign companies from the construction and information communication technology (ICT) sectors to Ethiopia. Baroque Interiors & Events, Mela Events, and Ethel Events & Communications jointly organise the forum to be held in the capital.


Radar

Coffee Hub Illu Ababor Targets Bigger Share in Global Market

Illu Ababor Zone supplied more than 51,000 tons of coffee to the central market in the 2024/25 fiscal year, Deputy Administrator Mohammed Teha reported. The effort is part of the "Neqemte Initiative," designed to promote production, productivity, and quality in top foreign exchange earner. The zone spans over 700,000 hectares, including 300,000 hectares of newly planted and rehabilitated coffee and 400,000 hectares of wild varieties, cementing its role as a major coffee hub. Officials highlig...


Radar

From Loan to Tap, Ministry Secures Water Infrastructure Funds

The Ministry of Water & Energy has signed a cooperation framework with China Exim Bank, facilitated by contractor CGCOC, securing a 100 million dollars loan. State Minister for Drinking Water & Sanitation Ambassador Asfaw Dingamo (PhD) said the funding will finance water supply and sanitation infrastructure in five cities: Holeta in Oromia, Areka in the South, Inseno and Tora in Central Ethiopia, and Mizan Aman in the South...


Radar

Bureau Rolls Out QR-Enabled IDs for Inspectors

The Addis Abeba Revenues Bureau has equipped inspectors with QR (quick response) code-integrated ID cards to curb fraud and improve transparency. Launched in Mercato, the system lets merchants verify inspectors' identities via smartphone, deterring impersonation and extortion. Bureau head Biniyam Mikiru said the move strengthens technology-backed oversight and shields compliant taxpayers. Inspectors will also wear new uniforms to distinguish them from impostors. Merchants praised the reform, say...