Author: MNI Alive | Date: 31 March 2018
Ethiopia’s government has voted in Abiye Ahmed as the new prime minister after the resignation of Hailemariam Desalegn.
Desalegn announced that he would retire following at least four years of unrest in Africa’s second most populous country. Ahmed has been tasked with introducing sweeping democratic reforms to help quell the protests.
While the sometimes-violent protests have dampened investor confidence, Ethiopia is forecasted to remain East Africa's fastest growing economy in 2018, growing at 8.3%.
The continued strong economic performance shows that businesses such as General Electric Co., Johannesburg-based Standard Bank Group, who both have a significant stake in Ethiopia, view their investment as a long-term business decision. But investor patience may run out if Ahmed is unable to deliver stability.
42-year-old Ahmed is the first Muslim to hold the post of Prime Minister