The polish billionaire, Jan Kulczyk is keen to invest in the energy sector in Ethiopia.
The billionaire who arrived in Ethiopia early this week with former Polish President Aleksander Kwasniewski and Germany’s ex-President Horst Kohler and other board members of his company talked with officials from different ministries and members of the African Union, on Monday April 7 at the Sheraton Addis about economic growth in the continent.
Kulczyk is currently involved in four strategic sectors: mineral resources, energy, infrastructure and real estate. He has held talks with Prime Minister Hailemariam Desalgen and President Mulatu Teshome (PhD) and AU chairperson Dr. Dlamini Zuma.
Diplomatic sources at the Embassy of Poland in Addis Ababa told Capital that Dr. Kulczyk wants to get involved in the nation’s development. “Currently the investor via the Polish embassy in Ethiopia is assessing the best areas to invest in Ethiopia,” Ahmed Shide, state minister at the Finance and Economic Development Ministry, told Capital.
Polish company Kulczyk Investment, which is engaged in energy, infrastructure, oil and gas is currently operating in more than 10 African countries, and if successful it will be one of the biggest companies to invest in Ethiopia from central Europe.
According to Forbes magazine, Kulczyk is the richest Polish citizen, with an estimated net worth of 2.6 billion euro.
He has a strong global presence and he mainly invests in mining, gas and oil. He is also involved in other areas as a partial shareholder. For instance Kulczyk Investments has a 40 percent stake in Neconde Energy Limited, a recently formed consortium which acquired a 45 percent share of a production license in the Niger Delta from Shell, one of the world’s largest hydrocarbon reservoirs. Investment in Neconde gives Kulczyk Investments access to very attractive production assets in Africa.
In addition to Kulczyk other Polish companies are showing their strong interest in investing in Ethiopia. Urssus, the biggest tractor manufacturer with a big market in Western Europe has also expressed its interest to invest in the country. Recently, company officials who visited the country signed a contract for the supply of 3,000 tractors, transfer of technology and establishing service facilities with the Metal and Engineering Corporation. Another IT company Asseco is also working to establish a continental office and production center in Addis Ababa.