South African Investors Keen to Invest in Ethiopia, Says South Africa’s Ambassador to Ethiopia

Addis Ababa March 14/2016 South African businesspersons are interested to invest in agro-processing, metal processing production, pharmaceuticals, and chemical products in Ethiopia.

This was disclosed by Ndumiso N. Ntshinga South African Ambassador to Ethiopia and Djibouti at the Ethio-South African business forum that opened in Addis Ababa today.

Some 17 South African businesspersons and their Ethiopian counterparts took part in the business forum which will be followed by a visit tomorrow to industrial parks, it was learned.

The main objective of the forum jointly organized by the Ethiopian government and the South African Embassy in Ethiopia is to boost trade and investment ties between the two countries.

Speaking during the occasion, State Minister of Industry, Mebrahtu Meles said Ethiopia and South Africa should strengthen trade and investment in order to exploit the huge potentials in their countries.

Mebrahtu added that the Ethiopian government is encouraging more investors by constructing industrial parks in different parts of the country.

Infrastructural development in railway, road, and power are profitable areas for investors, he said, adding that they also have incentive packages.

According to the state minister, intra-trade among African countries is low due to absence of continental free trade agreement.

In this regard, efforts are underway to create free trade area in 2018, he pointed out.

South Africa Ambassador to Ethiopia, Ndumiso N.Ntshinga said on his part increasing trade and investment based on the mutual benefits is essential.

The governments of both countries should create conducive environment for investors and the amount of trade and investment between countries should be further boosted, the ambassador added.

SOURCE: Ethiopian News Agency