NAIROBI - Ethiopia has secured $13 billion worth of investment deals, the state ​investment commission said, ⁠after a conference aimed at attracting ‌capital into a range of economic sectors.

Like other frontier economies in ​Africa, the East African nation has been seeking to boost ​foreign direct ​investment, particularly in manufacturing, to create jobs for its growing population. Neighbouring Kenya held a similar ⁠drive last week, announcing deals worth $2.9 billion.

The deals signed by Ethiopia at the conference in Addis Ababa, which ended on Friday, span "manufacturing, agriculture and agro-processing, ​energy, construction, ‌and other ⁠strategic sectors," the ⁠Ethiopia Investment Commission (EIC) said in a statement seen by Reuters ​on Sunday.

They include a $150 million ‌project by Sun King to ⁠install off-grid solar systems for homes and businesses over the next five years, the EIC said. China's Liaoning Fangda Group will invest more than $500 million in steel and pharmaceutical manufacturing plants.

Ming Yang Smart Energy Group Limited, a Chinese energy firm, accounted for the largest share of commitments, with projects ‌to develop infrastructure in renewable energy, hydrogen, and ⁠green ammonia, requiring investments of more ​than $10 billion, the EIC said.

Ethiopia has been implementing wide-ranging economic reforms since 2024, including liberalising its currency, lifting ​foreign exchange ‌controls, and opening up key sectors ⁠such as financial services.