The German pharmaceutical and biotechnology giant, Bayer, has announced its interest in entering Ethiopia’s medicine manufacturing sector.

This development follows a meeting between the Ethiopian Minister of Finance, Ahmed Shide, and Bill Anderson, the CEO of Bayer, held on the sidelines of the annual International Monetary Fund (IMF) and World Bank meetings in Washington D.C.

According to ENA, the discussions centered on creating investment opportunities and fostering partnerships within Ethiopia's rapidly expanding pharmaceutical industry.

Minister Ahmed underscored Ethiopia’s strong economic foundations and comparative advantages, positioning the country as one of Africa’s fastest-growing economies in terms of both economic and population growth.

He affirmed the government's commitment to creating a favorable investment climate for international organizations venturing into key sectors, including the production and distribution of medicines. A specific focus of the talks was on collaboration to strengthen the local manufacturing capacity for pharmaceutical inputs within Ethiopia.

The Minister highlighted Ethiopia's strategic logistical advantages, citing Ethiopian Airlines’ vast cargo network and the country's status as the host of the Africa Centres for Disease Control and Prevention (Africa CDC) headquarters. These factors, he noted, position Ethiopia to become a regional hub for pharmaceutical manufacturing and distribution.

Ahmed also detailed the government's investment incentives, including tax-free benefits within the dedicated Kilinto Industrial Park for pharmaceutical manufacturing, along with a legal framework implemented to ensure quality and build investor confidence.

Bayer CEO Bill Anderson praised the Ethiopian government's vision and stated the company is ready to collaborate. He confirmed Bayer’s interest in exploring investment opportunities to support Ethiopia's expansion of essential drug production and to bolster the overall capacity of its pharmaceutical sector.