Ethiopia is projected to be the third largest economy in the Sub-Saharan Africa by 2017, says Ernst and Young’s (EY) study titled “Investing in Ethiopia”.
The study states the prominent ten reasons for investing in Ethiopia and it was presented by EY Ethiopia Managing Partner Zemedneh Negatu.
“In 2014, the star performer in Africa in terms of FDI was Ethiopia … Ethiopia accounted for one in five FDI jobs in Africa - this is the kind of FDI we need in Africa,” Zemedeneh noted.
The ten prominent reasons to invest in Ethiopia are growing economy, demographic and geographical advantages, rapid urbanization, and opportunities in the manufacturing, infrastructure, extraction, agriculture and tourism sectors.
According to the report, “Ethiopia will very likely achieve its Middle Income target by the year 2025 (if not sooner) and become one of the more significant and consequential economies in Africa and a new investment destination for global investors.”
The EY report was presented at Sheraton Addis Hotel. High-level government officials, including Ethiopia’s Prime Minister Hailemariam Desalegn and business executives attended the presentation.