Ethiopia has secured investment commitments worth $13 billion following a major conference in Addis Ababa aimed at attracting foreign capital into key sectors, according to the state-run Ethiopia Investment Commission (EIC).
The deals, signed at the event which concluded on Friday, span manufacturing, agriculture, agro-processing, energy, construction and other strategic industries, the EIC said in a statement seen by Reuters on Sunday.
The East African nation is seeking to boost foreign direct investment as part of broader efforts to create jobs for its growing population, particularly through expanding its manufacturing base.
Among the agreements, solar energy company Sun King pledged $150 million to roll out off-grid solar systems for homes and businesses over the next five years.
China’s Liaoning Fangda Group is set to invest more than $500 million in steel and pharmaceutical manufacturing facilities, while Ming Yang Smart Energy Group accounted for the largest share of commitments.
The Chinese firm plans to invest over $10 billion in renewable energy infrastructure, including projects focused on hydrogen and green ammonia, according to the commission.
Ethiopia has accelerated economic reforms since 2024, including liberalising its currency, easing foreign exchange controls, and opening up sectors such as financial services to foreign investors.
The push mirrors similar efforts across the region, with neighbouring Kenya announcing $2.9 billion in investment deals at a recent conference.