A foreign investor intending to buy an existing private enterprise or buy shares in an existing enterprise needs to obtain prior approval from the Ethiopian Investment Commission (EIC).
Ethiopia’s Investment Code prohibits foreign investment in banking, insurance, and financial services, along with the following sectors: broadcasting, air transport services (up to 50 seats capacity), travel agency services, forwarding and shipping agencies, retail trade and brokerage, wholesale trade (with some exceptions) and most import trade.
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