Dubai will invest about $100 million in several Ethiopian economic sectors beginning in October, a visiting group of financiers said.

Dubai World delegation head Sultan Ahmed bin Sulayem said the Dubai government firm would invest in mining, trade, agriculture, real estate and catering.

'A team of experts from Dubai is in the process of finalising agreements with the government,' he said.

Ethiopia has forecast economic growth this year of 10.8 per cent, boosted by agriculture and services, but the country of 81 million people remains one of the world's poorest.

Sovereign wealth funds like Dubai World have been enriched by record oil and commodity prices, and are looking to emerging markets, as well as the richer economies, for new opportunities. Dubai World is spending more than $50m renovating a luxury hotel in Comoros.

Dubai Group unveiled plans in March to invest $250 million in finance, real estate and tourism sectors of Mauritius.