Economy
Ethiopia Earns UN Investment Award With Focus On Safaricom's Digital Expansion
The Reporter · 1 hour ago · Read the Full Story on The Reporter
AI SUMMARY
The Ethiopian Investment Commission received the 2026 UN Investment Promotion Award in Doha, Qatar, for its promotion of digital economy investments, supported by milestones from Safaricom Ethiopia and M-PESA.
- The Ethiopian Investment Commission received the 2026 UN Investment Promotion Award at the ninth World Investment Forum in Doha, Qatar.
- Safaricom Ethiopia's telecommunications infrastructure and the M-PESA mobile money platform were cited as key vehicles for advancing digital connectivity and financial inclusion.
- Ethiopia attracted USD 1.432 billion in foreign direct investment during the first quarter of the 2026/27 fiscal year, marking a 49 percent increase from the previous year.
- During the first quarter, the EIC issued 179 new investment licenses, 81 projects entered implementation, and 66 commenced production, generating over 22,000 jobs.
- By March 31, 2026, Safaricom Ethiopia reached 13.6 million active subscribers and 3,504 network sites, providing 4G coverage to 59 percent of the population.
- M-PESA registered 5.2 million customers by March 31, 2026.
- The EIC's winning submission was selected from 48 entries representing 40 countries.
- Four other international organizations from South Korea, Qatar, Morocco, and the Caribbean were also recognized by UNCTAD for investment promotion initiatives.
- UN Trade and Development has presented the Investment Promotion Awards annually since 2002.
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