Entrepreneur Ashenafi on why Ethiopia is potentially the fastest growing economy currently

Ethiopia, a country often underestimated by the global community, is emerging as a potential economic powerhouse in Africa. With a population of 110 million, Ethiopia is the second-largest country on the continent, boasting significant agricultural growth, burgeoning electricity potential, and a developing services sector. Tewodros Ashenafi, a prominent figure in the Ethiopian business landscape, sheds light on the country's remarkable growth trajectory and the key drivers behind its economic success. Ashenafi, the Founder and Chairman of SouthWest Holdings, highlighted the pivotal role of private enterprise in fostering job creation and sustaining economic development in Ethiopia. As the government shifts its focus towards empowering the private sector, the country is poised to attract increased foreign direct investment and drive further growth. Ashenafi emphasizes the need to address challenges such as youth unemployment and financial constraints to foster a conducive environment for sustainable economic growth. Ethiopia's abundant hydropower potential and investment in energy infrastructure position it as a key player in addressing the energy needs of the region, while also leveraging its surplus electricity to bolster economic exchange with neighboring countries. The country's strategic initiatives and commitment to fostering a business-friendly environment are essential steps towards unlocking Ethiopia's full economic potential and solidifying its status as one of Africa's fastest-growing economies.