Day: April 25, 2023

The Ethiopian Investment Commission (EIC) to launch an international investment forum that will bring together investors, business leaders, policymakers, and entrepreneurs from around the world to explore and unlock investment opportunities in Ethiopia.

The three-day ‘Invest Ethiopia 2023’ international investment forum will be kicked off tomorrow in Addis Ababa under the theme “Invest and Grow in Ethiopia – The Land of Attractive Investment Opportunities.”

The forum will be attended by more than 600 new foreign direct investors and will have the potential to generate more than 3 billion USD in investments in Ethiopia over the next few years.

It will be opened by a senior government official and will feature exhibitions by various regions of Ethiopia, speaking sessions by international business people, presentation of investable opportunities in Ethiopia and ample networking opportunities.

The forum will provide a platform for participants to learn about Ethiopia’s business climate, investment opportunities, and government policies aimed at promoting investment and economic growth.

According to the Commission, Ethiopia is a country with enormous investment potential, boasting a young, dynamic, and rapidly growing population, abundant natural resources, and a strategic location at the crossroads of Africa and the Middle East.

The country has made significant progress in recent years in creating a business-friendly environment, with government policies focused on attracting foreign investment and fostering economic growth.

‘Invest Ethiopia 2023’ will showcase some of the most promising investment opportunities in Ethiopia, with a focus on sectors such as manufacturing, agriculture, energy, ICT, healthcare, transport and logistics, tourism and other emerging sectors.

The forum will provide a platform for investors to connect with local entrepreneurs and government officials, learn about the latest investment incentives and policies, and explore partnership opportunities with Ethiopian businesses.

Lelise Neme, Commissioner of the Ethiopian Investment Commission said “We’re excited to launch ‘Invest Ethiopia 2023’ and showcase the vast investment potential of Ethiopia,”

Ethiopia is a country on the rise, she stated adding ”we believe that ‘Invest Ethiopia 2023’ will provide a unique opportunity for investors to learn about the country’s business climate, explore investment opportunities, and connect with local entrepreneurs and government officials.”

The forum is sponsored by Commercial Bank of Ethiopia and Ethio Telecom, two of the country’s leading financial and telecommunications institutions. Ethiopian Airlines will serve as the official travel partner for the forum.

According to the Ethiopian Investment Commission, Ethiopia has attracted more than 4.1 billion USD Foreign Direct Investments (FDI) in 2021 and continued as the top FDI destination in East Africa. The IMF has forecasted that Ethiopia will grow by 13 percent in 2023 and will be among the three fastest growing economies in Africa, the commission pointed out.

Source: Ethiopian News Agency

Ethiopia and Tanzania have kicked off a conference in Addis Ababa today with a view to accelerating the development of renewable energy in the two countries.

The two-day conference is underway under the theme “Fast-tracking renewable energy investment in Ethiopia and Tanzania”.

Addressing the conference, Minister of Water and Energy Habtamu Itefa said Africa in general and Ethiopia in particular has huge untapped renewable energy potential.

Hydro, wind and solar energy sectors were mentioned by the minister among the top priorities.

For Habtamu, engaging and encouraging the private sector is crucial to realize the potential of the huge asset of the energy sector in the years to come.

Representative of the ambassador of Tanzania in Ethiopia and General Manager of Tanzania Geothermal Development Company, Matthew Mwangomba said for his part that to ensure the enormous energy potential in Ethiopia and Tanzania, sharing expertise and experiences is critically important.

African Energy Now is hosting AENCon23 to showcase concrete opportunities in existing and upcoming renewable energy projects, including in solar, wind, hydro and geothermal energy.

The conference also aims at engaging international financiers and technology providers on renewable energy investment opportunities in the two countries.

The conference which targeted to accelerating renewable energy in Ethiopia and Tanzania is attending by all pertinent stakeholders from both countries.

African Energy Now (AEN) is a grant-funded programme that supports African governments to secure financing for investment-ready projects in the renewable energy sector.

AEN provides expertise on technical and financial aspects of renewable energy projects and supports investments from the initial engagement of investors up to negotiated terms for financial close.

Source: Ethiopian News Agency

It is imperative that every income category is provided with housing products that correspond with their financial position to ensure that every Namibian gets decent housing.

These were the sentiments of Urban and Rural Development Minister Erastus Uutoni during the handover of 102 plots for low-cost housing to residents of Henties Bay on Monday.

According to Uutoni, Government recognises everyone’s right to an adequate standard of living, including adequate housing, and the provision of basic infrastructure and services remains one of the top priorities at all levels of Government including Central, Regional and Local levels.

“Over the last two decades, housing in Namibia has remained a very complex and combative subject and the pressure on urban areas is becoming ever more severe, as demonstrated by rapidly increasing urbanisation rates. Government, through the MURD, is very much committed to the task of delivering affordable housing to as many Namibians as possible,” he expressed.

The minister however admitted that due to countless competing priorities, Government is unable to provide houses alone and emphasised the importance of stakeholder support within the housing sector.

“We have been entrusted and have a shared responsibility to our communities to deliver affordable and quality housing with the highest level of commitment to improving the living conditions of our people,” Uutoni said.

The chairperson of the Henties Bay Town Council management committee, Paulus Iimbamba noted that the location of land is part of the council’s plan to decongest the town’s informal settlement of !Goas and Omdel.

“We would really like to celebrate these achievements as a town council because although at a slow pace, we are moving into the right direction of providing decent housing for our residents,” Iimbamba noted.

Elton Goseb, who received a plot, expressed his satisfaction with the town council and ministry for their efforts to continue providing decent housing for the residents of Henties, noting that soon, informal settlements at the town will cease to exist.

The plots are Government-funded at a cost of N.dollars 15 million, and have been surveyed and serviced with water and sewer reticulation.

Source: The Namibian Press Agency