Ethiopia is putting in place reforms that aim to broaden the private sector’s participation in the economy, Ahmed Shide, Ethiopia’s Finance Minister said. The reforms that are being implemented also hope to see an increase in competitiveness and create decent jobs.
Ethiopia's economy is projected to grow by 7.9% in the current fiscal year, according to the Ministry of Planning and Development. This positive outlook follows results across various macroeconomic indicators during the second quarter, reported during a performance review meeting led by Prime Minister Abiy Ahmed on March 5, 2024.
The Ministry of Water and Energy (MoWE) has announced that the country’s energy generation capacity has exceeded 6,000MW.
Ethiopian Pharmaceutical Manufacturing Share Company (EPHARM) said it is prepared to begin exporting pharmaceuticals to Somaliland and South Sudan starting mid-2021. The company observes this will help address the pressing forex shortage, thereby helping the production of supplies to be used as preventive for COVID-19.
Ethio Telecom announced that it has successfully deployed its "Next Generation Business Solution System" which the company said has a capacity of serving 80 million subscribers. The new technology, Ethiopia's telecom service provider declared, can handle 41,800 transactions per second, and process 2.7 billion files per day.
