Foreign Investment in Ethiopia Slumps After Business Attacks

  • FDI dropped 20% to $1.2 billion in six months through December
  • Foreign companies receive financial compensation for damages

By Nizar Manek, 15 February 2017
(Bloomberg) -- 
Foreign direct investment in Ethiopia dropped by a fifth in the first half of the country’s fiscal year after violent anti-government protests in which foreign-owned businesses were targeted.
The country attracted $1.2 billion in the six months through the end of December, compared with $1.5 billion in the same period a year earlier, Fitsum Arega, commissioner of the Ethiopian Investment Commission, said in a phone interview Monday from the capital, Addis Ababa. He said the government may miss its annual target of $3.5 billion, with $3.2 billion more likely to be attainable.
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