Sigma Live

A Cypriot Success Story Unfolding Across Continents

Published March 24, 2026, 09:14
A Cypriot Success Story Unfolding Across Continents

The Ethio–Cyprus Investment Forum, held in Nicosia in March 2026, highlighted investment opportunities and economic cooperation between Cyprus and Ethiopia. The event, attended by business leaders, investors, and policymakers, underscored the growing interest in strengthening bilateral relations and Cyprus's economic shift towards international markets. Areas such as financial services, pharmaceuticals, tourism, energy, mining, information and communication technologies (ICT), and agriculture were discussed at the forum. Particular emphasis was placed on Ethiopia's investment environment, with representatives from the Ethiopian Investment Commission presenting reforms and incentives. A significant success story is Harry Anagnostaras-Adams, Honorary Consul of Ethiopia in Cyprus, who leads a Cyprus-based group of companies active in gold and critical materials. The group has participated in research and development projects in Europe, the Middle East, and Africa. Projects like the restart of Proyecto Rio Tinto in Spain (annual copper sales exceeding $500 million) and the discovery of the Hawiah deposit in Saudi Arabia (estimated copper value of $7 billion) demonstrate the reach of Cypriot business initiatives. Also, the development of the Tulu Kapi project in Ethiopia, with a $500 million investment, is expected to generate nearly $1 billion in annual gold revenue.