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Ethiopia: Investment Mission to the country with Thirteen Months of Sunshine

8 companies joined NABA´s investment mission to Ethiopia from October 23-26. The investment mission had a program divided in two parts: Nordic Conference and Joint EU Investment Mission program.

The Norwegian State Secretary Jens Frølich Holte and the Ethiopian State Minister Afework Kassu Gizaw, from the Ministry of Foreign Affairs, were the keynote speakers at the Nordic Solutions for Business Development business seminar organized by the Royal Norwegian Embassy and the Swedish Embassy in Accra.

In addition, stakeholders such as Ethiopia Investment Commission, Norfund, Swedfund, ILO, Ericsson, Multiconsult, Tropiq Ethiopia, Precise Consult, Penda Manufacturing, Business Sweden, H&M, Yara, Confederation of Norwegian Enterprise (NHO), Norwegian Confederation of Trade Unions (LO), SIDA, Norad, Danish Emergency Agency, ABB, Reykjavik Geothermal were also contributing in the panels during the conference.

Highlights and key lessons

The policies are in place – the important now is to facilitate practical implementation, and these challenges are not to be underestimated. When investing in Ethiopia it is important to have a long-term perspective, work closely with the government and institutions in place such as the “one stop shop”of the Ethiopian Investment Commission. In addition, it is a key to leverage on knowing and leveraging on prioritized sectors in Ethiopia, and the important factor of networking are some of the key lessons and take always from the seminar.

The values from the Nordic countries and social dialogue such as the openness, trust, sustainability, gender equality and labor are also a competitive advantage. It is a win-win opportunity which can contribute to decent work, quality jobs and increased productivity and growth.

The Nordic Solutions for Business Development conference facilitated for a fantastic networking opportunity. NABA members were also invited to a separate session with H.E. State Minister Frehiwot Woldehana, Ethiopian Ministry of Water, Irrigation, and Energy and H.E State Secretary Jens Frølich Holte, Norwegian Ministry of Foreign Affairs.

Ethiopia represents one of the most attractive investment opportunities for investors from the Nordic countries

As the fastest growing economy in Africa, (8.5% according to the IMF) and the 4th largest GDP in Sub-Saharan Africa, Ethiopia represents one of the most attractive investment opportunities for investors from Norway and other Scandinavia countries. Sectors such as manufacturing, Agro-processing, energy, natural resources and tourism offer particularly attractive returns for investors. That’s why our U.S. based Investment firm, Fairfax Africa Fund, has focused on these sectors in our investments in Ethiopia.

Zemedeneh Negatu, Chairman of Fairfax Africa Fund

NABA are very grateful for the warm reception we received by our great friends in Ethiopia, and we would also like to thank our partners, especially the Norwegian Embassy in Addis for the very good collaboration.

We already look forward to the next business mission to Addis Ababa in connection with the African Union Summit in February.

 

 

Overview of the companies in the NABA Investment Mission to Ethiopia:

Press coverage: