May 9, 2018 IBOMLLC Team

Why Ethiopia has the potential to become Africa’s China

Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Ethiopia has an ambitious short-term plan of making the country a lower middle-income economy by the year 2025. That plan involves moving its economy from agrarian economy to an industrial one. The country has put up actions to march those plans, the country is already busy lobbying to get international investors to set up their manufacturing and industrial shops within the nation.

It is safe to say those efforts to attract foreign investors has bared fruits. As the country is currently ranked the seventh most attractive investment destination in Africa according to a report by the Africa Investment Index (AII) 2018.

Ethiopia has several factors working to its advantage that makes it somewhat comparable to China. For one the country has a massive population exceeding hundred million people; that means it has access to affordable labor. The country is also close to major international market, rapidly improving infrastructure, conducive policy environment, a rapidly growing economy, and a favorable FDI destination.

There are also a number of multinational companies that are choosing Ethiopia as the country of choice to set up their African base. These companies come from countries …read more

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