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Mastering Your Market Under AfCFTA – Ethiopia


With a population of more than 100 million people, Ethiopia is the second most populous country in Africa after Nigeria. Over the past decade, Ethiopia’s economy has experienced significant growth, with an average annual growth rate of 14%. In 2019, Ethiopia’s real Gross Domestic Product (GDP) expanded by 9%, but due to the Covid-19 pandemic, growth is expected to decrease to 6.3% in 2020. Ethiopia was ranked 159th out of 190 countries in the World Bank’s Ease of Doing Business report, an improvement of two positions from 2018. The country’s new leadership is determined to improve this ranking by addressing challenges such as burdensome customs administrative procedures, high logistics costs, and limited access to credit and foreign exchange, which pose major obstacles to small and medium-sized enterprises (SMEs). Although the rapidly growing economy of Ethiopia presents many opportunities, there are also challenges to doing business in the country.

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