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Ethiopia has been making a narrative change of investment administration and improving the investment bureaucracy for private equity investment and venture capitalists, Investment Commissioner Abebe said.
In his keynote address to the 5th annual conference of East Africa Private Equity & Venture Capital Association (EAVCA) held for the first time here, Abebe Abebayehu stated that Ethiopia has been making marked improvement in investment administration and in cutting the red tape for private equity investment and joint ventures.
The commission said there is now a good atmosphere for equity and venture investment.
Noting that Ethiopia’s attractive investment has been driven by relatively high economic growth rate in the Horn of Africa, he said the country has embarked on investment administration at the macro-level to solve grievances of investors.
Ethiopia is, therfore, going to prove to be a destination for the largest world’s private equity and venture investors, Abebe vowed.
EAVCA CEO Esther Ndeti said on his part Ethiopia is a very big market in the East African region. “EAVCA has considered the country as one of the great potentials for the private equity and venture investment.”
The East Africa Private Equity & Venture Capital Association has been active during the past six years in the Horn of African region through its 100 companies.
The association has been currently working with local investors in Kenya, Uganda, Tanzania and Rwanda, Ndeti stated, adding that EAVCA is very keen to enter Ethiopian market.
The conference is expected to release the bi-annual Private Equity sector report that covers the above cited countries.