Friday, August 22, 2014

Ethiopia’s impressive economic growth

(Aug 22, 2014, (CNBC))--The country which is sub-Saharan Africa's fifth biggest economy is at the focal point of emerging economies' interest with various delegations of foreign investors seeking investment opportunities in the largest landlocked country in the continent.

“If you look at it [Ethiopia] from an economic stand point, I think Ethiopia is one of the countries that has become the quint essential embodiment of the Africa rising narrative,” Julians Amboko, research analyst at Stratlink Africa from CNBC Africa.

The country’s economic growth is principally attributed to intense government projects aimed at achieving its Millennium Development Goals (MDGs) as the country aims at becoming a middle income status by 2025.

“Look at the year between 2013 and 2014, the GDP growth was about 10.6 per cent, double digits. Kenya did only 4.8 per cent, Rwanda which has been a very stellar performer did only 7.9 per cent and therefore from that stunt point indeed investors must be looking at how they can tap into this market which is growing so fast,” Amboko said. Read more from CNBC Africa »

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