The Addis Ababa Chamber of Commerce will lead a trade and investment mission to the Western Cape later this year.
This was agreed during a meeting with members of the Western Cape trade and investment body Wesgro who are currently in the East African country.
Wesgro’s chief business officer, Yaw Peprah, noted that while the East African country’s economy was based on agriculture, government was pushing to diversify into manufacturing, textiles and energy generation.
Key factors such as excise breaks and tax holidays – depending on the sector and location of investment – were highlighted as reasons for the country’s attractiveness as a business delegation.
However, Wesgro head of International Trade in Africa, Michael Tiam-Gamwo, warned of notable hurdles in doing business in Ethiopia. These include the difficulties related to repatriation of capital, identification of partners, and restrictions on investment sectors reserved specifically for government, domestic investors and Ethiopian nationals.