ETHIOPIA: ON THE PATH TO BECOME THE NEXT CHINA?

this is not far-fetched, considering that the government’s current focus is on ambitious broadminded and market-friendly reforms.

Though the economy was hard hit by civil wars and famines of the 1970s and 1980s respectively, the government has made it its top priority to embark on economic reforms such as privatisation of state enterprises and rational-isation of government regulation. The process which is on-going has been widely lauded at home and abroad and vital FDIs have continued to flow due to the reforms. The country has a mixed and transition economy with a massive public sector, while the majority of the businesses that are in government hands are being transformed into private enterprises towards a market economy. Despite this, state-owned companies dominate the banking, telecommunications and transportation sectors. Economic analysts say that for the foreseeable future, government is expected to keep under its control some sectors regarded as strategic such as telecommunications, financial and insurance services, air and land transportation services, and retail.

With a population of over 100 million (2016 figures), this places it only next to Nigeria, making it a leading country regarding its human inhabitation. The Horn of Africa giant is one of the fastestgrowing economies in the world, with youth below the age of 18 presently projected at about 50% of its total current population.

With a population of over 100 million (2016