for subscribers

Foreign investment in Ethiopia slumps after business attacks

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Addis Ababa - Foreign direct investment in Ethiopia dropped by a fifth in the first half of the country’s fiscal year after violent anti-government protests in which foreign-owned businesses were targeted.

The country attracted $1.2bn in the six months through the end of December, compared with $1.5bn in the same period a year earlier, Fitsum Arega, commissioner of the Ethiopian Investment Commission, said in a phone interview on Monday from the capital, Addis Ababa.

He said the government may miss its annual target of $3.5bn, with $3.2bn more likely to be attainable.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.63
(+0.53)
ZAR/GBP
21.59
(+0.04)
ZAR/EUR
19.57
(+0.15)
ZAR/AUD
11.99
(-0.08)
ZAR/JPY
0.16
(+0.48)
Gold
1906.99
(+1.03)
Silver
23.88
(+2.34)
Platinum
905.00
(+1.64)
Brent Crude
42.12
(+1.78)
Palladium
2325.50
(+0.95)
All Share
54794.68
(+0.98)
Top 40
50489.68
(+0.89)
Financial 15
10309.39
(+2.36)
Industrial 25
73753.13
(+0.77)
Resource 10
53715.36
(+0.62)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1400 votes
It depends on how the funds are used.
73% - 9070 votes
No. We should have gotten the loan elsewhere.
16% - 1996 votes
Vote