Ethiopia Secures US Investment for New Five-Star Hotel in Addis Ababa
Ethiopian Investment Holdings (EIH) has signed a landmark agreement with a US private equity fund to develop a five-star hotel in Addis Ababa. Announced during the 17th US-Africa Business Summit in Angola, the project aims to strengthen Ethiopia’s hospitality sector and signals a broader push to attract foreign direct investment ahead of the country’s participation in the African Continental Free Trade Area (AfCFTA), set to begin in July 2025.
EIH’s latest move is part of a wider strategy to drive investment across key sectors including infrastructure, agriculture and technology. Alongside the hotel, the agency is working on major developments such as a new international airport capable of processing over 100 million passengers in collaboration with Ethiopian Airlines. Reforms including liberalised currency policies and relaxed foreign ownership rules are designed to make Ethiopia more attractive to international investors and support its long-term economic growth.
Source: CNBC Africa