Ethiopia Attracted $1.9 Billion In Foreign Direct Investment Last Quarter.

Ethiopia Attracted Foreign Direct Investment (FDI) Worth Over $1.9 Billion USD over the past four months of 2021.

According to the National Bank of Ethiopia, the significant increase in FDI to $1.9 billion compared to $495.9 million during the same period last year was largely due to the $850 million FDI in the Telecom sector.

In addition to the significant investment in the Telecom sector, the Ethiopian Investment Commission announced it has attracted 54 investors with over $1.07 billion over the last quarter, attaining 78% of its target. The amount had increased by 28% compared to the same period last year.

From the 54 investment projects registered, 33 are in the manufacturing sector, while the remaining are in the service sector. More than 34,580 jobs have been created, including 24,000 for women.

Infographic: Trading Economics & National Bank of Ethiopia