ADDIS ABABA, Ethiopia — Ethiopia has signed investment agreements totaling more than $1.6 billion, primarily with Chinese companies, to bolster its mining and energy sectors.
The deals, announced during the Invest in Ethiopia High-Level Business Forum 2025, reflect the country’s ongoing efforts to attract foreign capital and modernize its economy.
Among the notable agreements is a $600 million commitment from Sequa Mining and Processing, a joint venture between Ethiopian and Chinese firms, aimed at advancing coal mining projects.
Additionally, Huawei Mining Processing Company has pledged $500 million for mineral exploration and processing, including the development of a specialized economic zone.
Other significant investments include Hanergy New Energy Technology Company’s plan to invest $360 million in constructing a solar cell manufacturing facility, and Sesar Energy Advancing Solutions’ $250 million investment in solar energy development.
Finance Minister Ahmed Shide emphasized the importance of these investments, stating, “There has never been a more opportune moment to invest in our nation.”
He highlighted the government’s commitment to creating a supportive environment for private sector growth and implementing comprehensive reforms, including the newly introduced Macro Reform Programme.
In a related development, the National Bank of Ethiopia announced that government borrowing has been reduced to zero, marking a significant milestone in the country’s fiscal policy.
Governor Mamo Mihretu made the announcement during the opening of the Ethiopia Finance Forum 2025 in Addis Ababa, underscoring the government’s dedication to maintaining macroeconomic stability.
These developments are part of Ethiopia’s broader economic reform strategy, which includes liberalizing its currency and working towards an $8.4 billion debt restructuring with official creditors, following a $3.4 billion program deal with the International Monetary Fund in July.
