Purpose　The　aim　of　this　study　is　to　examine　the　motive　of　China＇s　and　India＇s　engagement　in　African　countries　particularly　in　Ethiopia　and　to　address　the　land　grabbing　and　debt-trap　diplomacy　between　Ethiopia　and　the　Asian　drivers,　which　creates　challenges　across　the　diverse　social,　political,　economic　and　ecological　contexts.　Design/methodology/approach　This　study　utilises　both　primary　and　secondary　data.　The　available　literature　is　also　reviewed.　The　primary　data　were　gathered　through　semi-structured　interviews　and　discussions　from　(1)　several　authority　offices　in　Ethiopia,　sources　close　to　authorities,　information-rich　informants,　employees　and　(2)　perspectives,　perceptions　and　prospects　from　individual　members　of　society.　Findings　The　study　unmasks　the　win-win　cooperation　strategy　from　the　perspective　of　the　members　of　society　in　Ethiopia,　evaluates　whether　China　and　India　have　strings　attached　or　land　grabbing　motives.　The　study　also　shows　that　whether　China＇s　and　India＇s　move　was　deliberate,　the　implications　of　debt-trap　diplomacy　and　exploitation　in　Ethiopia　are　apparent.　Additionally,　this　study　investigated　several　considerable　potential　threats　to　Ethiopia　that　will　persist　unless　significant　measures　are　taken　to　control　the　relations　with　Asian　drivers.　Research　limitations/implications　Some　of　the　limitations　of　this　paper　pertain　to　the　primary　data　collection　process　from　the　Ethiopian　Investment　Commission　(EIC)　and　other　authorities,　which　was　very　challenging　because　people　can　be　punished　for　talking　to　journalists　or　researchers.　Furthermore,　some　investors　were　not　willing　to　participate　in　discussions　because　they　were　engaged　in　areas　that　are　not　related　to　their　licenses.　Many　interviewees　were　also　not　willing　to　disclose　their　names,　and　the　data　are　not　exhaustive　in　the　number　of　investment　projects　covered.　Originality/value　This　study　provides　new　evidence　on　the　influence　of　Chinese　and　Indian　investment,　aid　and　trade　on　Ethiopia＇s　social,　political　and　economic　spheres.　Additionally,　this　study　contributes　to　the　ongoing　debate　on　land　grabbing　and　debt-trap　diplomacy　in　Ethiopia.