Ethiopia Summit 2015

Driving continued growth

With a population of around 94 million, a government aspiring to reach middle income status within the next decade and real GDP growth forecast to average 7% a year in 2015 - 2019*, Ethiopia offers enormous growth potential across a number of different industry sectors.

Foreign direct investment reached almost US$1bn in 2013/2014, adding further fuel and momentum to what is now one of the African continent’s fastest growing economies. But, despite solid economic growth, what more needs to be done for the country to achieve its full potential? 

In 2010, the government set out its first ambitious five year Growth and Transformation Plan (GTP) in a bid to foster broad-based development in a sustainable manner. It subsequently saw agricultural exports grow by 9% in the first three quarters of 2013/2014 and the manufacturing sector grow by 11.4% in the same period. What will the second GTP framework look like and what do the next 5 years hold for Ethiopia? 

*Source: The Economist Intelligence Unit (EIU).