Ethiopia Calls for Increased EU Investment

Addis Ababa, April 20, 2026 (ENA) —Ethiopia has called on European partners to scale up investment and deepen economic cooperation as the EU–Ethiopia Business Forum 2026 officially opened in the capital under the theme “Unlocking the Global Gateway Potential.”

Speaking at the opening session, State Minister of Finance Semereta Sewasew said that with a population exceeding 120 million and a young workforce, Ethiopia offers significant opportunities in agriculture, manufacturing, renewable energy, and digital services.

She added that the International Monetary Fund projects Ethiopia’s economy to grow by 9.2 percent in 2026.

Ethiopia is implementing one of Africa’s most ambitious economic reform programs to build a competitive, private sector-led economy and attract foreign investment, she said.

Semereta further emphasized Ethiopia’s commitment to strengthening its integration into the global economy through the African Continental Free Trade Area and its accession process to the World Trade Organization.

She highlighted key reforms, including the liberalization of the foreign exchange regime, the opening of sectors such as telecommunications, finance, and retail, as well as improvements in the ease of doing business through digitalization and regulatory simplification.

“These reforms are already delivering tangible results,” the State Minister said, noting improved macroeconomic stability, reduced inflation, rising exports, and rebuilding foreign exchange reserves.

She also noted that around 300 European companies are currently operating in the country, reflecting growing investor confidence.

She called on European Union institutions and member states to work with Ethiopia in identifying flagship projects under the Global Gateway initiative by the end of 2026 and to make financing mechanisms more accessible to investors.

EU Commissioner for International Partnerships Jozef Síkela, for his part, reaffirmed the European Union’s commitment to supporting Ethiopia’s reform agenda through strategic investments.

He announced a 269 million Euro RISE program aimed at expanding electricity access, modernizing the national grid, installing 2,500 kilometers of fiber optic infrastructure, and rehabilitating the Ashegoda wind farm.

The Commissioner also disclosed a 150 million Euro Digital Economy Package, with plans to scale up funding, as well as new financing from the European Investment Bank targeting agriculture, rural communities, and women entrepreneurs.

In addition, he confirmed the resumption of EU budget support to Ethiopia, unlocking more than 140 million Euro for priority sectors including energy, health, connectivity, and business climate reforms.

The EU–Ethiopia Business Forum 2026 has brought together over 500 participants, including government officials, private sector leaders, development finance institutions, and civil society organizations from both sides.