Prime Minister Abiy Ahmed (PhD) stated that the Addis Ababa Riverside Development project has successfully attracted 1.3 trillion Birr in investment from the private sector.
The Prime Minister noted that since the project began, the city administration has fostered a partnership model where the government covers 30% of costs while private individuals cover 70%. This collaboration has catalyzed various business opportunities, including restaurants and traditional coffee houses along the riverbanks, resulting in the massive 1.3 trillion Birr investment inflow.
He emphasized that this aligns with the "Medemer"(Synergy)philosophy, which directs the government and private sector to work together for national prosperity. He cited the progress of Ethio Telecomas a successful example of this ongoing effort.
The Prime Minister recalled that when the process to sell a partial stake in Ethio Telecom began years ago, the company had 37 million customers; today, that number has grown to over 90 million.
Regarding the aviation sector, PM Abiy reaffirmed that the $12.5 billion mega-airport project in Bishoftu, which aims to make Ethiopia Africas primary aviation hub, remains open for investment to those with the capacity and interest for mutual benefit.
"We have provided the opportunity for those with capital to participate in the construction of Ethiopian Airlines' new airport; however, if private funding is not secured, we will not stop the work—we will realize it through our own capacity,"the Prime Minister stated.
Addressing economic policy, the Prime Minister clarified that his administration's goal is not merely selling off state companies or simply transferring land ownership to individuals. Instead, he stressed that the government has set a clear direction to grow alongside the private sector as "hand and glove" to develop the nation.
Concluding his remarks, the Prime Minister asserted that national prosperity cannot be achieved without a strong private sector and the increased participation of emerging entrepreneurs. He called upon Ethiopians to participate in the economy by purchasing the available shares in Ethio Telecom.
Key Financial &Project Highlights
Riverside Investment:1.3 Trillion ETB (70% private / 30% government).
Ethio Telecom Growth:From 37 million to 90+ million customers.
New Mega-Airport:$12.5 Billion USD project in Bishoftu.
Core Policy:Public-Private Partnership (PPP) under the "Medemer"framework.
