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The Ethiopian Construction Industry
The Ethiopian construction industry is benefitting from the massive levels of growth the country has experienced over the last decade. During this period, economic growth averaged 10.7%, which is more than double the yearly average 5.2% growth rate of sub-Saharan Africa. The construction sector is expected to experience 36.4% annual growth and contribute 7.6% or US$4.723bn to national GDP of US$55.75bn in the 2015 financial year. It is because of these figures that the International Monetary Fund (IMF) rated Ethiopia as one of the top five growing economies in the world.
The Ethiopian construction sector has benefitted from the government’s Growth and Transformation Plan (GTP), now in its second phase and extended until 2020, positive trade relations with China and large-scale investments from that country. Chinese contractors have helped local Ethiopian firms by training them, bringing them in to assist on large-scale projects, and showing them how to manage projects more effectively. Government’s intention of spending an average 10% of its GDP on infrastructure each year for the next ten years is a further boost and presents opportunities for companies of all sizes operating within the construction sector.
This report on the construction industry in Ethiopia focuses on conditions in the local sector as well as market opportunities for companies in all the sectors of the economy. It investigates government initiatives as well as recent developments and factors influencing the success of the sector. The report also profiles 14 foreign and local construction companies, ranging from global giant, state-owned China Road & Bridge Corporation (CRBC) which employs 1,500 people in Ethiopia alone, to local micro-enterprise, Alemayehu Ketema General Contractor t/a AKGC, which focuses on the construction of road and waterworks and has seven permanent employees.