- Renewable Energy: The Hottest Investment Space in Africa?
- 15th Edition Connected Banking Summit – Innovation and Excellence Awards 2024
- FTSE 100 back in the red amid inflation update and earning season ramp up
- Rethinking Card Issuing in an Age of Fintech Disruption
- 5th Edition Connected Africa- Africa's Premier Telecom Summit
Ethiopia predicts record $1.5B foreign direct investment in 2015
Addis Ababa, Ethiopia (Capital Markets in Africa):- Foreign direct investment into Ethiopia will reach a record $1.5bn this year, on the back of successful efforts by the fast-growing and populous African country to attract overseas manufacturing companies.
Only seven years ago, the country with a population of 94m drew only $108.5m in inward investments from overseas. But it has been growing at double-digit rates, thanks to increased relocation of factories, attracted by low wages, cheap power and supportive government policies.
“This year will be a record for foreign direct investment,” said Fitsum Arega, head of the country’s investment agency, up 25 per cent from last year’s $1.2bn.
Read more: Ethiopia predicts record $1.5bn overseas direct investment in 2015 – FT.com.