Ethiopia's Bet on Making More at Home Begins to Pay Off

Ethiopia’s drive to manufacture more goods domestically is beginning to reduce reliance on imports, with products that previously consumed nearly 5 billion US dollars in foreign exchange now being produced locally.

Prime Minister Abiy Ahmed told parliament that the gains reflect progress in the country’s industrial strategy aimed at expanding domestic manufacturing and strengthening export capacity.

The achievements come as Ethiopia continues aggressive reforms to ease pressure on foreign currency reserves.

Abiy highlighted that manufacturing recorded 20.3 percent growth this fiscal year, with the broader industrial sector projected to expand by 12.7 percent.

He pointed to significant progress in construction materials, including new ceramics factories and expanded cement production capacity.

These developments are part of a broader effort to substitute imports with locally made goods and boost industrial exports.

The government believes sustained investment in manufacturing will play a critical role in long-term economic transformation.

Officials remain committed to supporting industrial expansion and creating an enabling environment for private sector participation.

Analysts see the strategy as a key pillar in Ethiopia’s efforts to build a more self-reliant and resilient economy.

Source: FSX Business News