ADDIS ABABA – A delegation of business leaders and investors aligned to UK-based business association ‘Invest Africa’ yesterday met with their Ethiopian counterparts to discuss investment opportunities.
Speaking on the event, Minister of Innovation and Technology Dr. Ing. Getahun Mekuria said that though Ethiopia and UK have strong bilateral relations in many aspects, the business platform is not yet at the desired level.
“We would like to heighten our relations in the investment sector.” According to him, under the leadership of Prime Minister Abiy Ahmed, as part of the economic reform, the private sector is taking part in telecom, finance, energy and services sectors as well as agriculture among others.
He recommended incentives as well as relaxing the investment policy, like the recent efforts, to encourage more investors to come Ethiopia. “We are ready to harness our partnership with them, and two private telecom operators will start to operate in the sector starting from March, 2020.
On the occasion, UK Prime Minister’s Trade Envoy to Ethiopia, Jeremy Lefroy said: “Ethiopia is full of opportunity; I am delighted to be joining Invest Africa’s Investor Mission to Addis Ababa as we continue to deepen the trade and investment links between the two countries.”
‘Invest Africa’ CEO, Karen Taylor for her part said: “This Investor Mission, our second to Ethiopia, will be an important opportunity to build on our close relationship with the Ethiopian government and learn how its ambitious liberalization and privatization agenda has progressed.”
She also noted that Ethiopia remains one of the most attractive markets in Africa as it opens new sectors to international investment. Taylor further noted that interest in the Ethiopian market amongst members has only grown over the last twelve months, and relayed her confidence that the trip will provide useful opportunities for new partnerships, deals and acquisitions between delegates and local stakeholders.
Investors from a range of strategic sectors including agriculture, telecoms, logistics, tourism, mining and power are included in the visiting delegation, it was indicated. The delegate will visit the industry parks as well conduct discussions with pertinent stakeholders to learn more new avenues for investment and partnership.
The delegation trip to Ethiopia framed to drive more investment and play an important role as the Ethiopian government moves forward with its economic reform agenda, including the ongoing telecoms licensing process. Invest Africa, with a global footprint of more than 400 member companies, is a leading pan-African business platform that promotes trade and investment in Africa.
The Ethiopian Herald, December 4/2019
BY MENGISTEAB TESHOME
