Addis Ababa has attracted 612 new investors in the first fiscal quarter, a 13% increase from the previous year. These investors pledged a combined Birr 2.93 billion, according to the Ababa Investment Commission (AAIC).
This investment surge, primarily in the service and manufacturing sectors (including hotels, tourism, IT, electrical products, steel, wood, and textiles), created 8,707 jobs – 770 permanent and 490 temporary.
While challenges such as foreign currency shortages persist, the AAIC, under the leadership of Communication Director Meseret Woldemariam, is making strides. Recent macroeconomic reforms and collaborative efforts with the Mayor's office to address workspace concerns have contributed to this progress.
Addis Zemen reported that the commission is actively monitoring new investments to ensure timely operational commencement.