Ethiopia has significantly strengthened its economic diplomacy during the 17th Africa-America Business Summit held in Angola, showcasing its commitment to deepening business partnerships aligned with ongoing domestic economic reforms. The summit, which concluded on Wednesday, gathered over 2,000 participants from across Africa and the Americas, providing a vital platform for Ethiopia to highlight its investment potential and foster strategic bilateral relations.
According to Ambassador Zerihun Abebe, Director General for African Affairs Directorate at Ethiopia’s Ministry of Foreign Affairs, the summit was a critical opportunity to advance Ethiopia’s economic diplomacy agenda.
“Our participation aligns directly with the government’s reform policies aimed at creating a conducive environment for investment and trade,” he told ENA, emphasising the importance of the event in enhancing Ethiopia’s presence on the continental and global economic stage.
Leading the Ethiopian delegation, Ethiopian President Taye Atske Selassie engaged in high-level bilateral discussions with key figures, including Angola’s President Joe Lercenzo, who currently chairs the African Union, as well as Masad Bolos, Senior Advisor on Africa to former US President Donald Trump, and Florian Leiser, CEO of the African Corporate Council. These dialogues underscored Ethiopia’s strategic intent to deepen business cooperation and attract foreign investment.
Ethiopia’s delegation was also represented by influential economic leaders such as Brooke Taye, CEO of Ethiopian Investment Holdings, and Commissioner Zeleke Temesgen of the Ethiopian Investment Commission. Their participation in various forums during the summit underscored Ethiopia’s proactive approach to promoting its investment-friendly policies and sharing its vision for stronger African-American business relations.
One of the landmark achievements announced at the summit was the signing of a Memorandum of Understanding (MoU) between Ethiopian Investment Holdings and the United States International Finance Corporation (IFC). This agreement, valued at over $200 million, aims to boost Ethiopia’s tourism sector by expanding infrastructure and developing new destinations, thereby supporting the country’s broader economic diversification goals.
Ambassador Zerihun highlighted that the summit offered extensive networking opportunities, allowing Ethiopian delegates to connect with potential investors and partners. “This platform was instrumental in showcasing Ethiopia as a prime investment destination, facilitating market access for Ethiopian products, and creating employment opportunities for our citizens,” he remarked.
The Africa-America Business Summit this year was particularly notable given the shift in US foreign policy under President Trump, moving away from traditional support-based diplomacy toward a more business-driven engagement with Africa. Ethiopia’s active role at the summit reflects its strategic adaptation to this new environment by emphasising mutually beneficial economic partnerships.
Looking ahead, Ethiopia is set to host the 10th Africa-America Summit, further cementing its position as a key player in fostering Africa-America economic collaboration. The upcoming hosting opportunity signals Ethiopia’s ambition to continue shaping and leading continental business diplomacy initiatives.
It was noted that Ethiopia’s robust engagement at the Angola-hosted summit marks a significant step in its economic diplomacy efforts. Through high-level discussions, strategic partnerships, and landmark investment agreements, Ethiopia is actively positioning itself as an attractive destination for foreign investment and a pivotal contributor to Africa-America business relations. This approach not only supports Ethiopia’s domestic economic reforms but also promotes sustainable growth and regional integration across the continent, according to ENA Amharic.