Ethiopia has attracted more than $1.7 billion in fresh investment pledges for its energy and mining sectors, largely from Chinese companies, during a two-day investment forum held in Addis Ababa to boost foreign capital inflows amid ongoing economic reforms.
Among the major deals, Hua Ye Mining Processing Company committed $500 million to mineral exploration, processing, and the development of a dedicated special economic zone. Another $600 million will be invested by Sequoia Mining & Processing Plc to expand coal mining operations.
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Chinese clean energy firms also played a significant role: Hainan Drinda New Energy Technology announced a $360 million investment in a solar cell production facility, while CSI Solar pledged $250 million for solar energy initiatives.
The Ministry of Finance did not disclose a timeline for the rollout of these investments.
As Ethiopia pushes forward with major economic reforms—including plans to float its currency and restructure $8.4 billion in external debt—the country is also implementing a $3.4 billion, four-year programme with the IMF, launched in July 2023 to support macroeconomic stability and unlock additional financing.
Officials say the new investment deals signal rising confidence among international investors in Ethiopia’s ongoing economic transformation.
