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.

The Ethiopian government has lifted the ban imposed on foreign investment on the local cement industry.

The French augmented hotelier, Accor Hotels Group, has agreed to bring in and manage Ibis Styles, a mid-scale brand as a fifth pipeline project in Ethiopia under its umbrella.

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.

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.

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. 

The United Kingdom is set to hold a major investment conference in London later on this month, titled – Sub-Saharan Africa Investment Conference.

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.

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.

The Ethiopian government is to show case the country’s investment, trade and tourism potential at the much anticipated EXPO2020 Dubai.