Ethiopian Business Review

Despite many delays, the Addis Ababa City Roads Authority (AACRA) constructed 2,150Km of asphalt road until 2013/14 fiscal year, more than double the network coverage of the city 13 years ago. Before the establishment of AACRA in 1998, the city roads were constructed and maintained by the Road Construction Department under the Addis Ababa City Administration. The total length of asphalt roads constructed in the city until the establishment of the Authority was 970Km.

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The rapid and uninterrupted growth rate of Ethiopia’s Gross Domestic Product (GDP) has put the country as the fastest growing economy among 55 African countries, according to a report released last month by the United Nations Economic Commission for Africa and the African Union. The annual report, entitled “Dynamic Industrial Policy in Africa,” states that Ethiopia has registered a 9.4Pct growth, on average, during the past five years. According to the report, Ethiopia recorded the fastest growth reflecting expansion in services and construction, aggressive public spending on infrastructure and public services, and increasing agricultural production associated with rising domestic demand. 

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The number of tourists who visited Ethiopia during the last nine months of the current fiscal year. Close to USD1.5 billion was obtained from the sector, according to the Ministry of Culture and Tourism. This dramatic change in revenue came due to the increase in the average stay of tourists from 4.7 days to 8 days this year. This was achieved through a coordinated effort among stakeholders such as tour and travel operators and hoteliers according to the Ministry.

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