Afinitas to invest P28.6m in Ethiopia

Friday, March 18, 2016

In a bid to extend its footprint across Africa, Afinitas Limited announced that it will invest $2.5 million (P28.6 million) to establish an Ethiopia-focused holding company. The Botswana-grown investment company stated on Wednesday that its board of directors has approved the establishment of the new entity in Ethiopia and funding its investments.

Afinitas executive director, Leutlwetse Tumelo told BusinessWeek that his company is an Africa-focused investment company, noting that creating an Ethiopia-focused holding company falls within their objective of investing in various sectors and countries across the continent.

“The motivation for going into Ethiopia is in part underpinned by the rapidly changing investment climate in that country,” he said.

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