By Joseph Mudingu
Ethiopia the second most populous country in Africa, with more than one hundred million inhabitants, following Nigeria, is attracting the attention of the international community in various aspects- political, economic and social dimensions. In this script, the economic aspect, investment, in particular, is to be dealt with.
Ethiopia is one of the fastest-growing economies in the world recording and maintaining a 9 percent economic growth on the average for the past decade and a half years. “Ethiopia’s GDP multiplied tenfold in 25 years, and poverty has been halved, educational enrolment has markedly increased” Prime Minister of Ethiopia Dr. Abiy Ahmed Ali, January 2019, Davos-Switzerland.
The government has been significantly dedicating much of its resources on infrastructural development which has contributed to the growth and attraction of FDI making Ethiopia one of the leading FDI destinations in Africa. As part of the reform process in the country, the government decided to liberalize the economy and privatize state-owned companies like telecommunication, aviation and energy.
Africa’s world-class and Star-Alliance member Ethiopian Airlines connects the country to more than 120 international, more than 61African destinations and provides 54 dedicated cargo destinations. It also flies to over 22 domestic passenger destinations.
For the last two decades, Ethiopia has enjoyed peace in the region is an island of peace in the Horn of Africa’s hot region. It has also made a bold move to end a more than two decades’ conflict with its immediate neighbor Eritrea.
With the current pace of economic growth, Ethiopia has envisioned to become a middle-income country and a green economy by 2025. Various grand projects like the Grand Ethiopian Renaissance Dam (GERD) and other hydroelectricity dams, giant manufacturing industries have been in place and operationalized….Read more>>
