Ethiopia ranks among top 5 FDI destinations in Africa

According to the United Nations Conference on Trade and Development (UNCTAD) latest world investment report, Ethiopia ranks among the top 5 Foreign Direct Investment (FDI) destinations in Africa in 2021 with 4.3 billion $.

“This represents 79pct increase from 2020 and corresponds to almost half of all FDIs to East Africa,” UNCTAD stated.

Four out of five international project finance announcements in the Ethiopia were in renewables, according to UNCTAD.

Foreign direct investment (FDI) to African countries hit a record $83 billion in 2021, according to UNCTAD’s World Investment Report 2022 published on 9 June.

This was more than double the amount reported in 2020, when the COVID-19 pandemic weighed heavily on investment flows to the continent.