@EthiopianInvest – Ethiopian Business Review

Ethiopia has secured significant interest from Indian investors to expand its pharmaceutical sector, aiming to transition from import reliance to a key continental producer. This outcome was achieved at the Ethio-India Trade and Business Forum, held at the Skylight Hotel, where Zeleke Temesgen Boru (Ph.D.), Commissioner of the Ethiopian Investment Commission (EIC), outlined the country’s commitment to fostering self-sufficiency and boosting exports as part of its 10-year national development strategy.

The Kilinto Special Economic Zone has played a pivotal role in this transformation, offering tax incentives and exemptions to attract investment in local pharmaceutical production. Dr. Zeleke has invited Indian investors to explore opportunities in pharmaceutical manufacturing, medical equipment production, health infrastructure, and digital health—sectors identified as having substantial growth potential.

India’s Ambassador to Ethiopia, Anil Khmer Rai, has commended Ethiopia’s recent business-friendly policy reforms and urged Indian companies to leverage the favorable investment environment.

The forum has attracted over 80 Indian companies in the pharmaceuticals and medical materials manufacturing sectors, offering a platform for deeper collaboration and investment in Ethiopia’s pharmaceutical market.

Adama Special Economic Zone (ASEZ) has launched an innovative digital system to monitor the liquid waste discharged from factories operating within the zone, marking a significant step in modernizing waste management practices.

The system was officially unveiled by Dr. Feseha Yitagesu, CEO of the Industrial Parks Development Corporation (IPDC), who emphasized that the technology will not only improve service efficiency but also streamline operations, positioning ASEZ as a leader in sustainable industrial practices.

Dr. Feseha further pointed out that the insights gained from this initiative will serve as a model for other economic zones to adopt, contributing to the broader goal of environmental sustainability across the country.

Gulilat Abebe, General Manager of ASEZ, highlighted the system’s potential to simplify sewage treatment management, enhance operational oversight, and offer faster, more efficient services to investors. He also expressed gratitude to the development organization IDH for their financial backing and crucial role in the successful implementation of the project.

The Ethiopian Capital Market Authority (ECMA) has issued a stern warning to the public about the existence of an unauthorized entity operating under the name Takilo “Investment Bank.” The entity falsely claims to be Ethiopia’s first investment bank providing capital market services, yet it is doing so without the required license, violating both national regulations and investor protection laws.

ECMA has made it clear that Takilo “Investment Bank” has not been granted the necessary license to operate as an investment bank or to offer any capital market services in Ethiopia, as mandated by the Capital Market Service Providers Licensing and Supervision Directive No. 980/2024. The entity is, therefore, operating illegally and is not authorized to engage in any capital market activities.

In accordance with the Capital Market Proclamation No. 1248/2021 and the licensing directive, only entities that are fully registered and regulated by ECMA are allowed to provide capital market services within the country. As a result, ECMA is urging all individuals and businesses to avoid engaging with Takilo “Investment Bank” or any similar entity that lacks proper authorization.

Engaging with these unauthorized providers poses a significant risk to investors, as they are not subject to regulatory oversight that ensures market integrity and protects investor interests. ECMA strongly advises the public to verify the licensing status of any capital market service provider before entering into any agreements or investments.

The authority also calls on the public to remain vigilant, exercise caution, and conduct thorough due diligence to protect themselves from fraudulent activities.

Indian Investors Eye Ethiopia’s Booming Pharmaceutical Sector

ASEZ Unveils Digital Waste Monitoring System to Enhance Environmental Oversight

ECMA Warns Public Against Fraudulent “Takilo Investment Bank” Operating Without License