Head of Ethiopian Investment Holdings: strengthening economic ties with Israel is a top priority

Economic cooperation between Israel and Ethiopia is a top priority, according to Dr. Taye Brook, CEO of Ethiopian Investment Holdings (EIH), the country’s sovereign wealth fund and the government’s strategic investment arm.

Dr. Brook emphasized Ethiopia’s commitment to enhancing trade relations with Israel. In an exclusive interview with Israel4Africa, he stated that the Ethiopian government is actively seeking ways to expand economic collaboration.

During his visit, Dr. Brook met with Israel’s Minister of Economy and Industry Nir Barkat, as part of delegation headed by Ethiopia’s Foreign Minister Dr. Gideon Timothy. In the event they discussed economic cooperation, trade and investment opportunities. He also met with Israeli business leaders who are either currently operating in Ethiopia or interested in doing so. Dr Brook also visited Christian holy sites in Jerusalem, including the Ethiopian Church.

Key Sectors for Cooperation

Dr. Brook identified three primary sectors for economic collaboration between Ethiopia and Israel:

• Technology
• Mining
• Agriculture

“There is no better place in the world to learn about technology than Israel, the Start-Up Nation,” he said. “Ethiopia presents a fantastic opportunity for Israeli companies to establish start-ups, expand operations, test markets, and scale their businesses in a country of 130 million people.”

Dr. Brook, who is a trained lawyer, also highlighted opportunities in Ethiopia’s mining sector. “We invite Israeli mining companies to explore Ethiopia’s rich resources, including potash, gold, lithium, and tantalum. We are actively seeking to attract more Israeli firms to invest and operate in these industries.”

Regarding agriculture, he praised Israel’s agricultural innovations. “Everybody knows how Israel transformed barren land into a flourishing landscape. Ethiopia has much to learn from this expertise.”

Dr. Taye Brook (second from the right) with Israeli Minister of Economy and Industry (third from right).

Additional Investment Opportunities

Dr. Brook noted that opportunities also exist in Ethiopia’s energy and manufacturing sectors. He emphasized that the ongoing conflict in Gaza has had no impact on Ethiopian Israeli relations.

“Ethiopia and Israel share a historical relationship dating back to King David, King Solomon, and Moses. No recent turbulence will affect the strong bond between our countries. To be frank, during this visit, I felt at home.”

Visiting Israel for the first time, Dr. Brook described walking the streets of Jerusalem as returning to a familiar place. He also highlighted the role of the 80,000 Ethiopian Israelis in strengthening bilateral ties.

Ethiopia’s Business Environment

Dr. Brook assured that Ethiopia’s internal stability is improving, and the government is making the right moves toward lasting peace, thereby paving the way for increased foreign investment. “We are making the necessary adjustments to ensure investors’ money is protected, and their operations are secure.”

He also pointed out that relations between the two governments are at an all-time high. “There are three daily flights between Addis Ababa and Tel Aviv operated by Ethiopian Airlines, and service continued uninterrupted even during the war. That’s remarkable.”

Dr. Brook, (left), Ethiopia’s Foreign Minister Dr. Gideon Timothy (center) and Ambassador Tesfaye Yetayeh. Photo credit: Rafi Ben Hakoon

Incentives for Israeli Investors

When asked about incentives for Israeli businesses, Dr. Brook highlighted three key advantages:

1. An inviting climate – “Ethiopia enjoys twelve months of sunshine, making it an ideal location for business.”
2. A vast consumer and labor market – “With a population of 130 million, Ethiopia offers immense potential for both consumption and workforce development.”
3. A welcoming atmosphere – “Israel is loved in Ethiopia. The Jewish people are deeply respected, making it a home away from home for Israeli investors.”

Beyond these advantages, he noted that Ethiopia offers tax incentives in key sectors, including hospitality, manufacturing, services, and other strategic industries.

Dr. Brook concluded by emphasizing that Israeli companies can partner directly with the Ethiopian government through its investment arm. “This collaboration helps reduce regulatory burdens and investment challenges. Israeli companies looking to explore opportunities can reach out to Ethiopian Investment Holdings through our website to discuss potential partnerships.”