Prime Minister Abiy Ahmed is set to host a fundraising dinner in Addis Ababa. The goal of the fundraiser is to help the government raise $1 billion for infrastructural projects in the city.
The Prime Minister’s office recently released a video detailing plans to develop Addis Ababa. The development plan shows the city with green spaces and a number of retail areas. There are also plans for the rivers in the city to be cleaned up and river banks to be transformed into public parks.
Ticket for the fundraiser will reportedly be sold at $175,000 each. However, other details concerning the event have not been revealed.
The goal of the fundraising dinner is to increase foreign investment in Ethiopia. This is not the first time the Ethiopian leader will chair a fundraising event. Prime Minister Ahmed recently sold his watch for $175,000 at a fundraiser for infrastructure development in Ambo which is located in the western part of Addis Ababa. About $14 million was reportedly raised at the event.
Prime Minister Abiy Ahmed, who has described himself as a capitalist, is championing reforms to open up Ethiopia’s economy and to boost direct foreign investment. As part of the plant, he is pushing for the privatization of some important state-owned companies. Ethio Telecom, the state-owned telecommunication company, will be the first to be privatized. The government is planning to sell its 49 percent state in the company by the end of 2019.