ADDIS ABABA - A French business delegation, consisting of representatives from 22 companies across various sectors, is currently in Ethiopia to identify potential investment opportunities, signaling France's growing interest in the East African nation's economy.
According to Ethiopian News Agency, the delegation, part of MEDEF, the international branch of France's primary business federation, is on a working visit to Ethiopia as France seeks to bolster its economic presence in the eastern and Horn of Africa region. The group comprises companies specializing in logistics, infrastructure, telecommunications, healthcare, culture, and education.
According to Philip Labonne, president of Africa Global Logistics, a French company within the delegation, the visiting companies have engaged in fruitful discussions with Ethiopian authorities and business leaders. Labonne expressed optimism about the business prospects in Ethiopia, noting that there appears to be significant room for French companies to expand in various investment sectors within the country.
Furthermore, Labonne highlighted the delegation's interest in collaborating with the African Union to support the implementation of the Africa Continental Free Trade Area, demonstrating a commitment to broader continental economic integration.
On a notable technological front, CS Group’s Initiative, known for its critical system solutions, announced it is finalizing the delivery of a counter-drone system for Addis Ababa Bole Airport. This system, the first of its kind in Sub-Saharan Africa, represents a major advancement in airport security, showcasing the practical application of French technology in defense and security sectors.
This visit by the French delegation is also set to include a meeting with Ethiopian President Sahle-Work Zewde, further underscoring the significance of the mission in terms of diplomatic and economic relations between France and Ethiopia. The engagement of these French companies in Ethiopia could mark a significant increase in foreign investment and technological collaboration, potentially benefiting various sectors of the Ethiopian economy.