Ethiopia, Kenya, Tanzania…East Africa’s recovery growth machine
By Jaysim Hanspal, Nicholas Norbrook
Posted on Thursday, 3 February 2022 11:04
Credit: MEAACT PHOTO / STUART PRICE
East Africa has shown resilience through the challenges of the past two years. With its national champions in many sectors and regional integration far ahead of the rest of the continent, both investors and homegrown companies are out to catch the opportunities.
Back in 2019, East Africa housed three of the world’s fastest-growing economies – Ethiopia, Rwanda and South Sudan. Then two major events upset the regional apple cart. While 2020 will be remembered by many as an annus horribilis, for East Africa the stakes were high.
First, the Covid-19 pandemic, which by 2 April had entirely shut down both local and international flights. Tourism contributes around 17% to export earnings, accounting for around 10% of regional GDP. And then war broke out in Ethiopia, sending shockwaves throughout the region and the country.
The Africa Report
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