The bill seeks to depress individuals engaging in illegal financial crimes like money laundering, human trafficking, and illicit financial activities to amass wealth.
Though the country witnessed a 65 per cent per cent flow increase, the FDI inflow declined from $1.59 billion (205 billion shillings) in 2022 to $1.5 billion (193 billion shillings) in 2023.
Somalia's gross domestic product growth pace has been set at 3.7 per cent, compared to 3.1 per cent last year, while Ethiopia's was 7.0 per cent, 0.2 percentage points down from last year's figure.
The nation has seen a substantial increase in agricultural productivity over the last nine months, with an additional harvest of one billion kgs of major crops compared to the same period in the previous fiscal year.
The announcement came as Africa's second most populous country, with about 120 million people, seeks to shore up its finances.
The report underlines the critical need for reforms to keep an additional 3.7 million Ethiopians from sliding into poverty over the next 25 years.
Ethiopia’s wealth will grow 75 per cent between 2023 and 2024, according to the inaugural BRICS Wealth Report released Wednesday by London-based investment migration consultancy Henley & Partners.