Ethiopian Prime Minister Abiy Ahmed will host a fund-raising dinner


Prime Minister Abiy Ahmed Ali at a meeting in RomeImage copyright
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Prime Minister Ahmed sold his watch for $ 175,000 during a similar campaign for the town of Ambo.

Ethiopia's Prime Minister Abiy Ahmed will hold a fund-raising dinner to help secure $ 1bn for infrastructure projects in the capital, Addis Ababa.

Officials said tickets will be charged at more than $ 175,000 per person, but additional details are unclear.

Dinner hopes to boost foreign investment in one of the fastest growing economies in Africa.

Since coming to power last year, Mr. Ahmed has lobbied for large-scale economic reforms in Ethiopia.

A video released by the PM has set out plans for the redevelopment of Addis Ababa, including an expansion of green spaces and retail areas.

Correspondents say Ethiopia likes to raise funds instead of relying heavily on foreign donors. Similar events were organized for economic investment and humanitarian aid.

Prime Minister Ahmed sold his watch for $ 175,000 during a recent infrastructure development event in Ambo, 100 kilometers west of Addis Ababa. About $ 14 million was raised in total.

Who is Abiy Ahmed?

Ahmed came to power after three years of Oromos-led protests calling for an end to what he considered to be his political and economic marginalization.

The prime minister, who is Oromo himself, has promoted a number of significant reforms, making peace with neighboring Eritrea and releasing the tightening of the state in parts of the economy.

His economic ambitions include a multibillion-dollar privatization of Ethiopia's telecommunications, energy, shipping, and sugar industries. A domestic stock exchange is expected to be launched in 2020.

The reforms have attracted millions of dollars in foreign investment, especially from the Middle East.

But Abiy's crackdown on corruption has drawn criticism from members of the country's former regime.

In June 2018, he was targeted in a bomb attack that killed two people at a rally in support of his government.


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