The Ethiopian Investment Commission (EIC) has announced the introduction of a new competency assessment and certification system for investment advisory services, aimed at professionalizing the country’s investment sector and strengthening its appeal to foreign investors.
The initiative was unveiled during the inauguration of the European Chamber of Commerce in Ethiopia (EuroCham)’s new office in Addis Ababa, which also hosted the launch of the European Union Foreign Direct Investment (EU FDI) Excellence Centre, designed to support foreign investors operating in Ethiopia.
EIC Commissioner Zeleke Temesgen explained that the new regulatory framework is intended to protect the interests of foreign investors by ensuring that they receive advice only from qualified, certified professionals.
The move responds to long‑standing complaints from investors who, in the past, received poor or misleading advice from unqualified consultants, leading to wrong investment decisions and damage to confidence in the country’s investment climate. According to the EIC, the absence of a standardized certification system has allowed gaps in the supervision and recognition of consultancy firms, undermining the credibility of the advisory market.
“Access to accurate, reliable, and timely advisory services is essential to attracting and retaining quality foreign direct investment,” Commissioner Zeleke said. The EIC plans to conduct detailed consultations with stakeholders in the coming period to shape the implementation of the certification system.
The core aim of the reform is to raise the quality of professional services and ensure that investment consultants possess the necessary knowledge, skills, and experience. Once the system is in place, only certified consultants and firms will be authorized to provide formal investment advisory services, guaranteeing that investors deal with trusted and competent advisors.
The launch of the EU FDI Excellence Centre within EuroCham’s new premises is expected to complement this effort by serving as an institutional bridge for new investors. The Centre will help them navigate Ethiopia’s legal, regulatory, and institutional framework with greater confidence, reducing the risk of misinformation and delays.
During the event, Ben Depraetere, Board Chair of EuroCham Ethiopia, welcomed the EIC’s move as an important step toward building a more transparent and professional business environment. He described Ethiopia’s economic landscape as undergoing a “promising transformation,” particularly in the area of foreign exchange.
“Forex has long been a major concern for the business community, but today, among our 185 members, this is no longer a primary issue,” Depraetere said, indicating that the government’s macroeconomic reforms are beginning to bear tangible results.
However, he added that the chamber continues to call for additional improvements in tax and customs procedures, the rule of law, and the overall predictability of government policy, which remain key for long‑term investor confidence.
The EIC’s certification system is expected to be rolled out in the coming months, as part of a broader effort to upgrade Ethiopia’s investment services and attract higher‑quality foreign direct investment amid growing regional competition.
