Ethiopia’s Abiy Ahmed shakes up his country, opening economy to the world
There are over 50,000 firms in Ethiopia pioneering solutions aimed at improving services from water and sanitation to health, education and housing
Nairobi — A wave of economic reforms in Ethiopia since Prime Minister Abiy Ahmed came to office nearly a year ago has sparked hope among social businesses struggling to grow under the East African nation's heavily regulated economy, industry experts said. Since April, Abiy's government has announced shake-ups across industries, including plans to open up the once closely guarded telecommunications and power monopolies. Ethiopia has also loosened government control of the economy by opening its logistics sector to foreign finance and finalising reforms in its underdeveloped mining and oil sectors to encourage more foreign investors. Matthew Davis, CEO of Renew Strategies, an impact investment firm which finances Ethiopian social start-ups, said there was untapped potential with a market of 100-million people — many of whom needed products and services that social firms could meet. "The challenges in Ethiopia are big, but the opportunities are also big. Ethiopia is the second largest ...
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