The Ethiopian Investment Holdings (EIH) signed a memorandum of understanding (MoU) with US International Finance Partners (USIFP) on the sidelines of the U.S.-Africa Business Summit in Luanda, Angola. The agreement, worth over USD 200 million, aims to develop luxury hotels, branded residences, and related tourism facilities in Ethiopia.
The signing ceremony took place in the presence of Ethiopian President Taye Atske Selassie. EIH CEO Brook Taye and USIFP President and CEO Garrett Gish signed the MoU.
President Taye praised the deal, highlighting its alignment with Ethiopia’s development priorities and potential to boost the country’s tourism sector. Brook Taye noted Ethiopia’s emergence as a tourism and conference hub, emphasizing that the partnership would enhance these gains and unlock broader regional benefits, citing Ethiopia’s status as home to Africa’s largest airline.
Garret Gish added that the agreement supports the Trump administration’s push for stronger commercial diplomacy and reflects USIFP’s long-term commitment to Ethiopia’s economic development.
Source (including image): Ethiopian News Agency