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Ethiopia provides the following guarantees to foreign investors: Repatriation of Capital and ProfitsCapital repatriation and remittance of dividends and interest is guaranteed to foreign investors under the Investment Proclamation. Any foreign investor has the right, in respect of an approved investment, to make the following remittances out of Ethiopia in convertible currency at the prevailing exchange rate on the date of remittance: profits and dividends accruing from an investment; principal and interest payments on external…
Ethiopia has a large population and thus potentially one of the largest domestic markets in Africa. Beyond the domestic market, by virtue of its membership of the Common Market for Eastern and Southern Africa (COMESA) embracing 19 countries with a population of over 400 million,Ethiopia enjoys preferential market access to these countries. Ethiopia's proximity to the Middle East also offers potential market opportunities.The country also qualifies for preferential access to European Union market under the…
In conformity with the international conventions and other legal commitments, Ethiopia has issued its labor law to ensure the worker-employer relations be governed by the basic principles of rights and obligations with a view to enabling workers and employers maintain industrial peace and work in spirit of harmony and cooperation.The labor law is believed to be consistent with the investment policy of the country. Foreign investors obtain work permits for their expatriate employees directly from…
The National Bank of Ethiopia (NBE) is the central bank of the country. Commercial banking functions are performed by the state-owned Commercial Bank of Ethiopia (CBE) and a number of private banks. The CBE and private commercial banks offer savings and checking accounts, short-term loans, foreign-exchange transactions and mail and cable money transfer services. They also participate in equity investments, provide guarantees and perform other commercial banking activities.The number of banks operating in the country…
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