Ethiopia is taking bold steps toward economic revitalization by drafting legislation that could allow foreigners to own land—a major shift from its long-standing restrictions dating back to the 1974 revolution. The proposed reform, now awaiting parliamentary approval, aims to boost foreign direct investment (FDI), stimulate housing development, and create jobs. With FDI dipping by 11.2% between 2022 and 2023, the move could reignite investor interest, especially given Ethiopia’s strategic location and access to global trade routes. However, critics warn of potential downsides, including rising living costs and the displacement of locals. Balancing opportunity with protection will be key as the country repositions itself in Africa’s investment landscape.
Africa Forbes