Addis Ababa Attracts Billions in Energy and Mining Investments

Ethiopia has secured over $1.7 billion in new investments for its minerals and energy sectors, with Chinese firms leading the charge. Announced at a two-day investment forum in Addis Ababa, the deals include a $500 million commitment from Hua Ye Mining for exploration and a mineral-focused special economic zone. Sequoia Mining & Processing will pour $600 million into coal projects, while Hainan Drinda and CSI Solar plan to invest a combined $610 million in solar energy development. These deals come as Ethiopia undertakes sweeping economic reforms, including a currency float and a push to restructure $8.4 billion in debt. While timelines remain unclear, the agreements mark a significant boost to the country’s development ambitions.