Opens up commericial sector to foreign investors

18 Apr 2024

On 18 April 2024, the Ethiopian Investment Board (EIB) introduced Directive No. 1001/2024 to regulate foreign participation in export, import, wholesale, and retail trade, areas previously restricted to domestic investors. The Directive establishes conditions for foreign company involvement, detailing a three-pronged strategy:

It lists investment opportunities in export, import, wholesale, and retail trade usually reserved for domestic entities. It outlines eligibility requirements for foreign investors to enter these restricted sectors. It explains the roles of relevant government agencies in facilitating and overseeing foreign investor activities in these industries.

For instance, foreign investors must have purchased an average of at least $10 million in raw coffee from Ethiopia annually over the past three years to qualify for export trading, and they must contractually commit to exporting at least $10 million of the commodity within the permit year.