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Location of Ethiopia. Ethiopia is a country located in the Horn of Africa. According to the IMF, Ethiopia was one of the fastest-growing economies in the world, registering over 10% economic growth from 2004 through 2009. [1] It was the fastest-growing non-oil-dependent African economy in the years 2007 and 2008. [2]
Ethiopia with its quickly increasing electricity demand of over 30% requires new power plants, immediately. [1] But at the same time, the construction of new power plants is incredibly slow, in 2015 only 3.9% of the energy target (energy from new power plants) had been achieved for the timeframe from 2010 to 2015 due to lack of public financing ...
In exploiting geothermal energies, Ethiopia is piloting a way that was previously unknown to this country in the energy sector (which is otherwise entirely owned by the state): foreign direct investments with a full private ownership of power plants for 25 years with a power purchase agreement in place with a guaranteed price of US ¢7.53/kWh ...
In 2018, access of electricity in Ethiopia reached 45%, and power generation, especially hydropower, tripled in a decade from about 850 MW to above 2,000 MW. [ 12 ] [ 13 ] According to the World Bank , [ 14 ] power outage of Ethiopia occurred 8.2 times in a typical month, each average duration of 5.8 hours.
To accomplish this task, Ethiopia needed infrastructure to develop resources, a material base to improve living conditions, and better health, education, communications, and other services. [41] A key element of the emperor's new economic policy was the adoption of centrally administered development plans. [41]
In one instance, inflation could heavily impact the growth, requiring food demand. From 2005 to 2012, maize grain in Addis Ababa drastically increased from 1,469 to 5,013 ETB per ton, and the price was tripled in the last five years. Overall, the food price inflation was increased from 7.4% to 15.8% between 2014 and 2019 years. [2]
The Ethiopia Commodity Exchange (ECX) is a commodities exchange established April 2008 in Ethiopia. In Proclamation 2007-550, which created the ECX, its stated objective was "to ensure the development of an efficient modern trading system" that would "protect the rights and benefits of sellers, buyers, intermediaries, and the general public." [1]
The current system of administrative regions was introduced in 1992 by the Transitional Government of Ethiopia, and was formalised in 1995 when the current Constitution of Ethiopia came into force. [ 1 ]