Open Society Invests $10m in Ethiopia

Oct 19 , 2019

The Open Society Foundation is investing 10 million dollars to assist Cepheus, a private equity fund manager, in its effort to raise 100 million dollars for its Ethiopian investment fund. Soros, an investing arm of the Foundation, will facilitate the implementation of the investment, which aims to provide capital for private businesses. The fund focuses on creating quality jobs for young people and women in Ethiopia. The investment also aims to support the government’s effort to reduce poverty in the less developed areas of the country. The Open Society Foundation, founded by George Soros, is one of the largest philanthropic organisations in the world. In December 2018, Patrick Gaspard, president of the Open Society Foundation, met Ethiopia’s Prime Minister Abiy Ahmed (PhD) and extended an offer to support the government's democratisation objectives, primarily in the areas of justice sector reform and strengthening institutions.