Atta Africa Financial Update

Ethiopia predicts record US$1.5bn direct investment in 2015

 
  • Foreign direct investment into Ethiopia will reach a record US$1.5bn - driven by the country having made efforts to attrach overseas manufacturing companies
  • Foreign companies are relocating factories to the country, attracted by low wages, cheap power and supportive government policies - GDP has been growing at double-digit rates as a result
  • The inflow of foreign investment marks a sighnificant turnround from the 1980s, when the country was synonmous with severe famine and lack of development
  • Many key sectors still remain closed to foreign investment including anking and telecoms

Nigeria is in talks with Russia’s Rosatom Corp. to build nuclear power plants

 
  • Nigeria is in talks with Russia’s Rosatom Corp. to build as many as four nuclear power plants costing about US$20 billion
  • A further three nuclear plants are planned, taking total capacity to 4,800 megawatts by 2035, with each facility costing US$5 billion - under the agreement, the first Nigerian plant will be operational in 2025