The Ethiopian Finance Ministry has announced the signing of five major investment deals, worth more than $1.6bn (214.99bn birr), to bolster the country’s minerals and energy sectors.

These agreements, predominantly with Chinese companies, are part of Ethiopia’s economic reform strategy.

The deals were secured during the two-day Ethiopia High-Level Business Forum 2025 held in Addis Ababa.

Among the investments are a $500m commitment from Huawei Mining Processing Company for minerals exploration and processing, and the establishment of a specialised economic zone.

Sequa Mining and Processing, a joint venture between Ethiopian and Chinese companies, has pledged $600m to advance coal mining projects within the country.

Minister of Finance of the Federal Democratic Republic of Ethiopia Ahmed Shide reiterated the government’s commitment to creating a supportive environment for private sector growth, maintaining macroeconomic stability and implementing comprehensive reforms, including the newly introduced Macro Reform Programme.

Shide said: “There has never been a more opportune moment to invest in our nation.”

He highlighted that investment is crucial for achieving shared objectives of resilience, inclusive prosperity and sustainable development.

The Ethiopian Finance Ministry also signed deals with Hanergy New Energy Technology Company, which plans to invest $360m in constructing a solar cell manufacturing facility.

An additional $250m will be invested by Sesar Energy Advancing Solutions for solar energy development, while Toyo Solar Manufacturing Development plans to invest $14m (Y2.04bn) in solar cell capacity.

The Finance Ministry has not specified a timeline for the inflow of these funds into Ethiopia.

This influx of capital is set to play a key role in the nation’s extensive reform initiatives, which include liberalising its currency and working towards an $8.4bn debt restructuring with its official creditors, following a $3.4bn programme deal with the International Monetary Fund in July, reported Reuters.

In May 2024, Gold and copper exploration company KEFI launched the Tulu Kapi Gold project in western Ethiopia.