For a while now, Ethiopia has been taking over in East Africa as the region’s top preferred investment hub. The 8th largest economy in Africa in 2017 registered a foreign direct investment decline of 10 per cent to $3.6 billion as compared to 2016, according to a United Nations report. However, since the onset of the New Year 2018, the economy continues to attract more investments.
Shipping company A.P. Moller Maersk has announced its interest to invest in the Horn of Africa country. The Danish company, like other foreign firms, has identified business investment opportunities in the nation. The business conglomerate is seeking to expand its world-class services in the logistics sector to Ethiopia.
During his visit to Denmark, president Mulatu Teshome of Ethiopia met with the international company’s representatives who expressed their strategic plan to venture into the fast-growing economy in Africa.
The company’s CEO Soren Skou said Moller Maersk would send a delegation to Addis Ababa in November and explore the business opportunities on the ground.
Maersk, which registered an operating income of $ 6.77 billion in 2016, already operates in 130 countries and employs nearly 80,000 people. Its presence in Africa’s fastest growing economy will create more employment opportunities.