Ethiopia may become the leading economy in East Africa

According to the forecast of the Kenyan media outlets, Ethiopia is about to overtake Kenya and become the leading economy in East Africa. Though the possible win would be by a small margin, Kenyans have echoed that Ethiopia is surely becoming a new superpower in the region.

both According to the IMF and the African Development Bank (AfDB),  an important contributing factor behind Ethiopia’s quick ascension suggest is the robust foreign direct investment (FDI), complementary to the government’s huge investment.

According to the Ethiopian Investment Commission, China leads the foreign investment pack followed by Turkey.

Ethiopia, the second most populous nation on the African continent, has an estimated population of 100 million, doubling that of Kenya. The big population, however, is considered a blessing in disguise. Many investors see huge consumer base and market potential, which can shore up Ethiopia’s future growth.

Source: Coast Week