Ethiopia’s drive to attract more South African investment is being hampered by a government that still distrusts business and a population wary of foreign domination.
Africa’s second most populous country wants more foreign direct investment in agriculture, energy, transport and manufacturing, among other sectors, as it seeks to sustain an average economic growth rate of 11% over the past decade, according to Wegayehu Berga, the minister counsellor of business promotion at the Ethiopian embassy in Pretoria.
However, at an investment briefing organised by the Gordon Institute of Business Science this week, PPC and Group Five, which are establishing themselves in the country, detailed tales of a slow-to-reform bureaucracy still married to paperwork, slow in decision-making and still protective of its dominance of the economy.
“They are incredibly wary about business,” said Tony de la Motte, managing director of Group Five Projects, a unit of JSE-listed Group Five. Read more here
No comments:
Post a Comment