Nigeria, June 26 -- At its peak, Ethiopia was widely described by international financial institutions as one of Africa's most promising frontier investment destinations. Between 2010 and 2019, Ethiopia was widely regarded as a frontier investment success story. According to the World Bank and IMF macroeconomic datasets, the country recorded average GDP growth of around 9% annually during the decade before COVID-19, driven largely by state-led infrastructure expansion and rising foreign direct investment (FDI).

Between 2010 and 2019, the country experienced one of the fastest expansions of foreign direct investment (FDI) in Sub-Saharan Africa, driven by state-led industrialisation, infrastructure megaprojects, and manufacturing zones. Ac...