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Ethiopia’s economic reform drive splutters for foreign investors

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Reuters

By Giulia Paravicini ADDIS ABABA (Reuters) – When Ethiopia awarded its first private telecom licence last week, Prime Minister Abiy Ahmed hailed it as the crowning achievement of his plan to open up Ethiopia’s tightly controlled economy of over 109 million people. But for many foreign investors who feted him getting the top job in 2018, hopes of cracking one of the world’s last major untapped markets are waning, stifled by the slow pace of reforms and ossified bureaucracy. On paper, Abiy can boast of having opened up Ethiopia’s health, e-commerce and transport services sectors through a new in…

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