Ethiopia will host World Economic Forum next year, 7 years after it accommodated the prestigious event in May 2012.The WEF is a major annual event that is attended by political leaders, cultural leaders, top business executives, and leaders of international organisations from around the world.
The main event is usually held in Davos, Switzerland; but other regional forums are convened in locations across Asia, Africa, and Latin America. Following a meeting between Prime Minister Abiy Ahmed of Ethiopia and Prof Klaus Schwab – the founder of the forum, it was agreed that the next forum on Africa be held in Addis Ababa in 2020.
The decision to have the WEF hosted in Ethiopia is a great milestone for the Eastern African country. Rwanda hosted the global event in May 2016.
Ethiopia aims to bring additional foreign investors into the country as noted on the Ventures Africa news site, “it hopes to attract more investments.”
During the 2019 WEF in Davos, Ethiopia’s Prime Minister Abiy Ahmed held talks with key world leaders such as the World Bank’s interim President Kristalina Georgieva, Microsoft founder Bill Gates, and Jack Ma, leader of the Alibaba Group. The Prime minister urged foreign investors to identify investment opportunities in his country.
The forum will bring gains to the Eastern African region through the large number of world leaders who will visit Ethiopia. Business segments expected to gain from the forum are; hospitality, transport, security services, and tourism sector.