Ethiopia Can Sustain Double-Digit Economic Growth for Decades, Says Capital Investment Bank CEO

Addis Ababa, September 16, 2026 (ENA) —Ethiopia's economy, driven by the expansion of agriculture and manufacturing, development of natural resources as well as tourism and its large youthful population, can sustain the annual economic growth of between 9 and 11 percent over the coming decades, CBE's Capital Investment Bank CEO Zemedeneh Negatu said.

In an exclusive interview with ENA, the CEO noted that the country's prospects should be viewed in light of its ongoing economic transformation and the significant resources that remain available for development.

According to him, Ethiopia has several potential engines of sustained growth, including the transition of agriculture from subsistence farming to mechanized and commercial production.

Agriculture remains a major contributor to the Ethiopian economy and the recent gains in wheat production have demonstrated the country's capacity to improve productivity and reduce dependence on imports.

Zemedeneh said continued modernization of the sector could position Ethiopia among Africa's major food producers and exporters.

Manufacturing is the other sector with considerable potential, particularly labor-intensive industries such as textiles, clothing, footwear and electronics, he added.

The CEO said he believes Ethiopia's large and trainable workforce provides an important advantage in developing these industries, stressing the need to gradually move toward higher-value manufacturing and technology-based production.

He noted that the development experiences of China, South Korea, Japan, Singapore and Vietnam could benefit Ethiopia.

China's decades of sustained economic expansion, in particular, demonstrate that countries starting from relatively low economic bases can achieve rapid transformation through consistent investment and policy focus, Zemedeneh observed.

The CEO also identified natural resources as a major source of future growth, noting that Ethiopia's mineral and energy resources remain relatively underexplored.

“The country's potential in gold, lithium, tantalum and natural gas could create additional economic opportunities as exploration and development activities expand, particularly amid growing global demand for minerals used in modern technologies and electric vehicles.”

Tourism is another sector that could contribute significantly to growth, according to Zemedeneh.

Ethiopian Airlines' extensive international network and large number of transit passengers provide Ethiopia with an opportunity to attract more visitors to stay and explore the country's tourism destinations.

Beyond natural resources and productive sectors, the CEO emphasized that Ethiopia's greatest long-term asset is its people.

Sustained investment in education, skills development and innovation will be critical to preparing the country's youthful workforce for an increasingly technology-and artificial intelligence-driven global economy, he stated.

In addition, Zemedeneh stressed that foreign direct investment remains important to Ethiopia's growth and the country must continue improving its competitiveness as nations around the world compete for capital, expertise and technology.

Sustaining high growth would require continued reforms, focused implementation and the ability to address existing challenges.

“All data points indicate that coming together, we can sustain double digits for 10, 15, 20, 30 years—or like China, 40 years. I think it's doable; but it needs a lot of work.”

Yet, the CEO expressed confidence that Ethiopia's challenges are manageable and that the country's economic potential provides a strong basis for optimism.

He cited the completion of the Grand Ethiopian Renaissance Dam and the ongoing Bishoftu International Airport project as examples of Ethiopia's growing capacity to undertake large-scale and transformative infrastructure projects.

The changes in the capital also reflect Ethiopia's broader capacity to implement ambitious development projects, according to Zemedeneh.

Overall, the CEO underscored that the country has a real opportunity to sustain high economic growth if it continues to develop its productive sectors, invest in human capital, attract investment and effectively utilize its natural resources.