Ethiopia the Africa’s Shining Star Business & Marketing Essay (Essay Sample)
The task was to explain why ethiopia is regarded as africa's rising star. The factors that make it a rising star include infrastructure, hydroelectricity, foreign investemnt and private sector among others.source..
Ethiopia the Africa’s Shining Star
The African Country with the Greatest Potential for Development
Ethiopia was ranked among the fastest-burgeoning economies in 2017 with 8.3% growth. It is also referred to as the ‘Africa’s shining star’. Ethiopia has a comparatively undersized economy with a GDP of merely $80.6 billion in 2017, though various economists have a notion that it might turn to be the fastest growing across the globe. Agriculture is the major pillar of the country’s economy, thus its key proceeds in gigantic agricultural investment has drastically accelerated Ethiopia’s growth. The government is also focused on pro-poor spending projected at halving the poverty level and accommodating most of its increasing labor force. Ethiopia is without a doubt the African country with the biggest potential for development.
Infrastructure can be attributed to the accelerated economic growth in Ethiopia. The Ethiopian government has heavily invested in the public sector especially transport, social sectors, communication, and energy. These are the key aspects for a country’s development and it is evident that the sustainable funding of public infrastructure schemes is having a significant effect on the economy (Clapham, 2006). Infrastructure is the biggest driver of development since it will have long-run benefits, especially for social services, construction, and exports.
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