Investment Profile - Ethiopia
Federal Democratic Republic of Ethiopia By Africa Business Association
According to World Bank es mates, from 2000 to 2018, Ethiopia was the third-fastest growing country of 10 million or more people in the world, as measured by GDP per capita. Two of Ethiopia’s main development goals are poverty reduc on and elimina ng dependence on food aid. The country’s poverty rate fell to 31% by 2015 (the latest year Ethiopia’s poverty level was assessed by the World Bank). Life expectancy rose from about 52 in 2000 to 66 in 2017, and infant mortality more than halved over that period. By HE Aiby Ahmed, Prime Minister of Ethiopia displays his Nobel Peace Prize 2050, the United Na ons (UN) projects the country to grow to over 205 million people, from Prime Minister: around 115 million today, making it among the fastestHead of Government growing large countries in terms of popula on, too. Name Prime Minister: Ethiopia is young with 71% of its popula on under 30. Abiy Ahmed In 2019 Ethiopia’s parliament passed a bill to allow h ps://pmo.gov.et/ members of the Ethiopian diaspora, who have taken Region: up na onali es in other countries, to invest, buy East Africa shares, and set up lending businesses in theciountry’s Es mated GDP: state-dominated financial sector. By posi oning its 5 US$222 (2019) million strong diaspora community the prospects for Es mated Popula on: more foreign direct investment is clearly assured. With 114.86 million consistent success Ethiopia is will li tens of millions out of poverty and live up to the country’s burgeoning Value Proposi on Ethiopia has been among Africa’s most impressive status as the next global manufacturing center. growth performers over the past decade, averaging 10.9% annual growth between 2004 and 2014, despite O cial Name: being a non-oil producing country. The government’s Federal Democra c Republic of Ethiopia economic strategy has been premised on sound Government Format: macroeconomic policies, diversifica on by promo ng Federal Parliamentary Republic, whereby the 30
July-August 2020
DAWN
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