Addis Ababa, Ethiopia (12 May 2023)

Kenya’s direct investment in Ethiopia surpassed Tanzania and Uganda, reaching $440.7 million in 2021, according to the recently released Economic Survey 2023.

The report highlights that although Tanzania was the top investment destination for Kenya at the beginning of 2015, the balance has shifted in favor of Addis Ababa. The direct investment from Kenya in Tanzania stood at $377 million in 2021, while investment in Uganda peaked at $412 million in the same year.

Several Kenyan businesses have entered the Ethiopian market, including Safaricom Telecommunications through its Ethiopian subsidiary. Additionally, KCB Bank, a Kenyan lender, has expressed interest in penetrating the Ethiopian sector and met with representatives of the Ethiopian Investment Commission (EIC) in October 2022.

Source: Kenya National Bureau of Statistics, Business Insider


The opinions expresses here in the post "Ethiopia Emerges as Top Investment Destination for Kenya, Overtaking Tanzania and Uganda" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.


Hanna is an aspiring economist in her final year at Addis Ababa University. She has written hundreds of insightful daily stories, analyses, and features about the Ethiopian economy and beyond.

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