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Ethiopia’s resurgent momentum may produce double digit growth

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Visit of Eritrean delegation is historic

By Anthony Opara

 

For well-heeled observers, not only is there a resurgent momentum in Ethiopia today, it is also one that could translate into double digit GDP growth in a matter of time.

And should this be achieved, the Horn of Africa nation would then have set an impressive example and contributed most positively to the long running debate as to whether growth can indeed be accomplished in Africa without repression.

For well over a month, power in Ethiopia was literally in the streets. Overwhelmed by the challenges of governing a long-repressed people even when he himself is not a natural despot, Prime Minister Hailemariam Desalegn had thrown in the towel, and walked out of office.

Eventually, political accommodation brought into the saddle Abiy Ahmed as the new Prime Minister and since then, Ethiopia has truly witnessed a fresh glimmer of hope, capped this week by the unthinkable: a visiting delegation from Eritrea, with whom Ethiopia had been at war since 1991!

It is against the backdrop of this new advance in national rejuvenation that has been witnessed since the beginning of the current era is also projected to generate impressive returns on the economic terrain of Africa’s second most populous state. Though the economy had been growing in the range of 7-8 per cent for about a decade and counting, the new administration’s further expansion of the business space as well as its continuing promotion of social and economic reform, is expected to, within the next three years, translate into the world’s first double digit GDP growth in the current era.

 

Prime Minister Abiy Ahmed of Ethiopia

 

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