Zenawi legacy continues; Ethiopia marches forward

Addis-ababa-ethiopia
Addis Ababa skyline

While all the focus has been on the billion-dollar mega projects such as the Grand Renaissance dam and other big-dollar infrastructure projects, it is a tour of Addis Ababa that shows just how much Ethiopia is on the move.

The entire capital city feels like one giant construction site, from skyscrapers steadily darkening the skyline to numerous luxury hotels and the ubiquitous Chinese swarming all over vital city arteries.

But the scale of the economic activity is only in keeping with its national Growth and Transformation Plan (GTP) launched three years ago. This plan outlines a target of creating three million new job opportunities by 2025 and is the reference point for all the economic buzz being felt.

The country is also considering a debut Eurobond issue to fund the infrastructure surge, even as it comes under criticism for its reluctance to open up its much coveted financial and telecommunications sector to outside employers.

These, it says, are funding all the growth projects. It is all in keeping with the theme that Prime Minister Hailemariam Desalegn has no intention of deviating from the path trodden by his predecessor Meles Zenawi.

 

About Andrew Kwabena

The Editor of MoneyInAfrica

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