Ethiopia transforms from aid dependency to self reliance and investment

By Maryihun Tsegay
Tigrai Online, April 7, 2015

Thirty years back, Sir. Bob Geldof, together with other known musicians, initiated a Live Aid Fundraising Concert to help Ethiopians who were severely affected by the famine of 1984/85. This Live Aid Concert was conducted after the world media such as BBC and others disseminated the plight and famine to the world in their documentary films. As the saying goes,”A friend in need is a friend indeed,’’ the Live Aid Concert led by Sir Bob Geldof, was successful in collecting about 145 million dollars. It was indispensable to our drought affected people at that time.

After thirty years, things are reversed in Ethiopia thanks to the gallant Ethiopian freedom fighters of TPLF/EPRDF. Our country has become a focus of attention of the International Business Companies that are showing keen interest to invest in the most peaceful  and stabilized Ethiopia. Some of the interested investment companies are the New York based Private Equity K K R & Co, Paul Tudor Jones and Blackstone. These Companies have decided and agreed to invest about 200 million dollars, 2 billion dollars, and 1.35 billion dollars respectively. The K K   R &   Co. is investing in Rose Farms, the Blackstone plans to build a $1.35 billion pipeline to bring gasoline to the capital Addis Ababa and Paul Tudor Jones is backing a $2 billion dollars Geothermal Power Project.

Thus, Ethiopia is attracting Foreign Direct Investment and this is an indication of changing from AID to TRADE OR INVESTMENT. This is a good indication of the harmony and bright future of Ethiopia and it’s bilateral relations with partners and will pay a significant role to achieve the second phase of the Growth and Transformation Plan /GTP/ successfully.