Ethiopia Attracts Over USD5 Billion in Remittances in First Nine Months of Fiscal Year

Ethiopia has secured over 5.1 billion USD in remittances within the first nine months of the 2024/2025 fiscal year, surpassing the total 4.4 billion USD received in the entire previous fiscal year, according to Ambassador Fetsum Arega, Director General of the Ethiopian Diaspora Service.

This remarkable inflow underscores growing trust and engagement from the global Ethiopian diaspora, not only in supporting families but also in exploring emerging investment avenues.

Ambassador Fetsum noted that diaspora interest is expanding beyond traditional remittance channels. Many are now leveraging liberalized investment policies and previously restricted sectors, entering joint ventures with foreign investors and injecting capital directly into the Ethiopian market.

Two major companies have already been established through this model—one facilitated by the UK-based diaspora and another by diaspora members in France. These developments reflect a broader trend of diaspora-fueled partnerships that blend emotional connection with economic ambition.

Source: Ethiopia News Agency