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Ethiopia
Ethiopia Snapshot
The winds of change are sweeping through Ethiopia since Abiy Ahmed became prime minister in April. Ethiopia is sub-Saharan Africa’s fastest growing economy, with average growth of around 10% a year for over a decade. GDP was US$8.2bn in 2000, $80bn by 2017, and will reach US$129bn by 2023, according to the IMF. The IMF’s World Economic Outlook expects 8.5% GDP growth in 2019 – while the World Bank expects 8% – outstripping advanced economies and global growth, which is expected at 3.9%.
Tanzania
Tanzania Snapshot
The European Union’s 5 November recall of its ambassador to Tanzania, based on “the deterioration of the human rights and rule of law situation” in the country, highlights growing concerns about its government’s crackdown on human rights and an increasingly difficult investment environment. Since assuming power in 2015, president John Magufuli has made significant changes and reforms including reducing bloated government, improving tax collection and reining in on tax evasion.
