Ethiopia Poised to Become One of Africa’s Great Economic Powers: Rwanda CMA CEO

Addis Ababa, December 12, 2025 (ENA) — Ethiopia is expanding the scope and the opportunity for foreign direct investment to meet its potential of becoming a great economic power in Africa, Thapelo Tsheole, CEO of Rwanda’s Capital Markets Authority (CMA) said.

Ethiopia has been undertaking a major economic transformation driven by the comprehensive Homegrown Economic Reform Agenda, which includes liberalizing key sectors and improving the business climate.

In an exclusive interview with ENA, the CEO stated that the comprehensive economic reform is a step in the right direction in a country where outstanding transformation, including in the infrastructure sector, have been undertaken.

“Ethiopia is a big country, potentially a great economic power, especially in Africa,” he added.

According to him, the reform is going to have some very massive impact on the economic potential and growth of the nation’s economy; and things are moving quite fast in the right direction.

Liberalizing and opening the economy is what a number of foreign investors need, Tsheole said, adding that those are providers of capital the country can use to grow its economy.

By opening up, Ethiopia is actually expanding the scope and the opportunity for foreign direct investment to come into the country, he stated.

Regarding the significance of the operationalization of the capital market in Ethiopia, the CEO said every economic growth is anchored on capital markets as companies are essential in raising capital for an economy to grow.

“If you liberalize and transform your capital markets, you are actually setting a very strong foundation for entities that have got a great economic potential to actually tap into the capital markets.”

Therefore, it is a very good policy change to liberalize, transform and anchor capital markets in Ethiopia, which is going to be quite beneficial to the overall economic direction of the country.

Tsheole  also commended Ethiopia’s commitment to creating a conducive business climate in the country that is a benchmark in attracting foreign direct investment and a lot of potential investors.

Overall, Ethiopia is going in the right direction and something that is going to be very positively affecting the growth potential of Ethiopia, he further stated.

Ethiopia's economic reforms under its Homegrown Economic Reform Agenda are successfully attracting foreign direct investment  and boosting export revenues.

The country secured record export earnings of 8.3 billion USD last Ethiopian fiscal year, and a surge in FDI inflows, creating jobs and improving market access.