Ethiopia Enters Era of National Resurgence to Permanently Break Poverty Cycle, Says DPM

Addis Ababa, July 5, 2026 (ENA) — Ethiopia is undergoing a defining period of national resurgence and rapid economic transformation aimed at breaking its long history of poverty and underdevelopment, Deputy Prime Minister Temesgen Tiruneh said.

The Deputy Prime Minister made the remarks during a high-level resource mobilization forum for the Hawassa Lakefront Development Project, held in Addis Ababa.

He highlighted the nation's shift toward rapid prosperity and sustainable growth.

Every nation reaches a decisive moment in its history that enables it to overcome economic hardship and accelerate development, he said, noting that Ethiopia has now entered such a period, characterized by broad-based prosperity and national renewal.

He said the extensive development projects underway in Addis Ababa reflect the government's commitment to transforming the country through strong leadership and active collaboration with the private sector.

Referring to the Hawassa Lakefront Development Project, Temesgen acknowledged that the initiative requires substantial financial investment.

However, he emphasized that once completed, the project will create lasting economic opportunities and contribute to sustainable prosperity for future generations.

He also reaffirmed the government's commitment to advancing major infrastructure and development projects across all regions of the country with greater momentum.

"Our unity is our greatest strength. By standing together, the future ahead is bright, and we will build a prosperous nation that frees Ethiopia from poverty and backwardness," he said.

The DPM further noted that the resource mobilization forum comes at a significant moment as the Prosperity Party prepares to form the next government following what he described as a strong public mandate.

Sidama Regional State Chief Administrator Desta Ledamo, for his part, said the regional government is intensifying efforts to strengthen Hawassa's position as a leading industrial, commercial, and service center.

He invited both domestic and international investors to take advantage of the city's growing investment opportunities across a wide range of sectors.

Highlighting Hawassa's strategic location as a transport corridor and tourism gateway, the chief administrator encouraged investors to capitalize on the city's expanding economic potential.

He also expressed appreciation to development partners and investors who have committed themselves to supporting the city's transformation.

Describing Hawassa as the jewel of the south, Desta said the city is renowned for its peaceful environment, natural beauty, and welcoming community, which has earned it the reputation as the home of love.

Comprehensive efforts are underway to transform the lakeside city into a modern destination for investment, tourism, recreation, and quality urban living, he added.

Hawassa Mayor Tiratu Beyene, on his part, said the lakefront development project marks a historic milestone in the city's transformation and will redefine its urban landscape.

According to the mayor, the first phase of the project will redevelop the Fikir Hayq, Amora Gedel, and the local fish market waterfront areas.

The development will include modern pedestrian walkways, bicycle lanes, recreational parks, boat docking facilities, and other public amenities designed to enhance the city's attractiveness.

Tiratu said the project will play a significant role in realizing Hawassa's long-term vision of becoming one of Africa's leading destinations for leisure tourism, investment, and international conferences.