Ethiopia Earns UN Investment Award with Focus on Safaricom’s Digital Expansion

The Ethiopian Investment Commission (EIC) has received a United Nations award for its efforts in promoting investment in the digital economy, with Safaricom Ethiopia’s telecommunications infrastructure and the M-PESA mobile money platform cited as key vehicles for advancing digital connectivity and financial inclusion. The commission was honored with the 2026 UN Investment Promotion Award at the ninth World Investment Forum in Doha, Qatar, according to UN Trade and Development (UNCTAD). The accolade comes amid a strong upward trend in foreign direct investment. Ethiopia attracted USD 1.432 billion in FDI during the first quarter of the 2026/27 Ethiopian fiscal year, marking a 49 percent increase compared to the same period last year. During the quarter, the EIC issued 179 new investment licenses, while 81 projects entered implementation and 66 commenced production, generating over 22,000 jobs. UNCTAD commended the commission’s pivotal role in facilitating investment in digital infrastructure. By March 31, 2026, Safaricom Ethiopia expanded its reach to 13.6 million active subscribers and 3,504 network sites, bringing 4G coverage to 59 percent of the population, while M-PESA registered 5.2 million customers. The EIC’s winning submission was selected from 48 entries representing 40 countries, focusing on initiatives that attract investment into the digital economy. Four other international organizations were also recognized: the Caribbean Export Development Agency for regional investment promotion through the Caribbean Investment Forum; Invest KOREA for driving investments into semiconductor materials, components, and equipment; Invest Qatar for its Startup Qatar initiative; and Morocco’s Tanger Med Zones for investments in digital services, including the ALTEN Delivery Center Maroc. UNCTAD has presented the Investment Promotion Awards annually since 2002. While the international honor highlights the commission’s effective promotion strategies, Ethiopia’s latest FDI figures offer a concrete measure of the tangible capital flowing into the country’s expanding economy.