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Gov’t downplays downgraded investment outlook

Moody’s global relative rating of Ethiopia has been downgraded as the public revenue streams dry up. The government has downplayed the recent credit rating siting the global pandemic as the cause for government’s coffers drying up, The Reporter has learnt.

Abiy urges local investors to develop Genale-Dawa power project

Inaugurating the delayed Genale Dawa (GD-III) hydroelectric power project on Tuesday Prime Minister Abiy Ahmed (PhD) made an appeal to local investors to build the next phase of the hydroelectric project GD-6, in the same river basin that requires an estimated financial outlay of USD one billion.

FDI inflow drops to USD 2.5 bln

Once a champion in Foreign Direct Investment (FDI) attracting to the tune of USD 4.2 billion, Ethiopia’s FDI has slowed to USD 2.5 billion, landing at the lowest amount recorded since 2016, The Reporter has learnt.

Japanese delegation ink MoC, makes no investment commitments

Yet again another Japanese business mission to Ethiopia ends with no significant investment commitments being made, except advising the authorities to consider easing business procedures and policies, putting in place environmental safety regulation and improve the pool of skilled manpower, The Reporter has learnt. 

PepsiCo joins Veris Investments

PepsiCo has joined Veris Investments, a growing and influential investment company, as a major shareholder in Crisps Company, Senselet Food Processing Plc. (Senselet), in Ethiopia.

Draft proclamation opens new doors for foreign investors

A new draft bill, intending to amend the existing investment proclamation has been tabled before the House of Peoples’ Representatives (HPR). The latest bill proposes amending provisions that would offer more opportunities for foreign investors, who seek to jump into local investment areas including the ones preserved to local investors.