In the vibrant landscape of East Africa, Ethiopia stands tall as a beacon of economic progress. In 2023, it secured a staggering $3.3 billion in foreign direct investments (FDI), more than its neighbours Kenya and Uganda. ADVERTISEMENTAccording to the EIC data, China has played a pivotal role, accounting for nearly half of all FDI projects in Ethiopia. In January 2024, Safaricom Ethiopia announced that the number of M-Pesa users had nearly tripled in four months to 3.1 million, with transactions worth $115.3 million. ADVERTISEMENTIn comparison to last year’s figures, UNCTAD's report reveals a 3% decrease in FDI inflows to Africa, totalling $53 billion.

Source: Ethiopian News June 24, 2024 22:08 UTC