French companies exploring investment opportunities in Ethiopia

Addis Ababa, November 24, 2023 (FBC) – Some 22 French companies from various sectors are in Ethiopia to explore and identify investment opportunities in the country.

A delegation from MEDEF, the international branch of France’s primary business federation, is conducting a working visit to Ethiopia.

The visit is part of France’s ongoing efforts to strengthen its economic presence in eastern and Horn of Africa, according to ENA.

The delegation includes 22 French companies from sectors such as logistics, infrastructure, telecommunications, healthcare, culture, and education.

Philip Labonne, president of Africa Global Logistics, a French company, said the visiting companies have held productive meetings with several authorities and business leaders in Ethiopia.

“It was really a wonderful day. We have seen very interesting prospects, and I think all the people who are with me understand that there is room for business for French companies to grow in this country,” the president added.

He affirmed that there are great opportunities to engage in various investment sectors in Ethiopia.

Moreover, he elaborated that they want to work with the AU to accelerate the implementation of the African Continental Free Trade Area (AfCFTA).

CS Group’s Initiative, known for its critical system solutions, announced on the occasion that it is completing the delivery of a counter-drone system to be used at the Addis Ababa Bole Airport.

The counter-drone system is the first-ever airport based counter- drone system in Sub-Saharan Africa, it was learned.

This installation is a significant step in enhancing airport security and demonstrates the application of French technology in defense and security.

The delegation also expected to meet President Sahle-Work Zewde today.