The second last stop on our Africa tour has brought us to beautiful Ethiopia!
The most hyped up country of all 4 (Nigeria, Ghana, Ethiopia and Kenya), and with a forecasted GDP growth spurt of 8.2% (Taken from the WorldBank.org website) in 2018 I must say that my expectations were high. I was expecting to step onto a buzzing metropolis in the making…. but, not quite.
Now I’m not saying that Ethiopia is not growing, from the areas I have visited in Addis Ababa, I can certainly say that of the 4 countries, Addis had the most developments. You cannot drive longer than 1km without seeing a new development and this is a great sign for things to come from an economic growth, opportunity and expansion perspective. However, right now and into the next 3 years, I don’t believe there would have been enough time for a shift. Maybe in the next 5 to 10 years.
Because Ethiopia is still highly regulated by the law of the ruling government, foreign investment is highly regulated, barriers to entry for outsiders are high and major industries such as Banking and Telecommunications are monopolized. Historically, there has been limited to no support from the local government in order to support entrepreneurs, drive competition, increase the literacy rate as well as employment but the sudden increase in foreign interest should change this and hopefully make the Government realize the importance of working with investors and using the opportunity for the advantage of its people.
From a general, tourist perspective I could say that Addis has a quasi Mediterranean quasi Middle Eastern feel to it. Extremely dry air and dusty roads will make you feel like you’re walking/driving through the streets of Athens, Greece and the local culture, language and aesthetic of the natives has an Arabic sand dunes feel to it.
I was grateful to also have some time to try out the local cuisine which I though was simply divine and completely exceeded my expectations.
And of course…. COFFEE!
All in all, being in Ethiopia was an incredibly insightful experience and I cannot wait to see the country grow and establish itself as a powerhouse in Africa. It is certainly open for business and one to look out for in the near future.