Officials of the French business confederation (MEDEF) are in Ethiopia to explore and identify projects they want to invest in, according to the French daily Le Monde. After undertaking similar tasks in Kenya for three days, 40 business executives under the umbrella of MEDEF have arrived in Addis Ababa on Thursday for two days stay, the paper wrote. The group was led by Pierre Gattaz, the head of MEDEF in its first visit of East Africa. The companies included 40 major French firms Schneider Electric, Total, Urbasolar, Peugeot, Sse Air Liquide, Semmaris and Bollore among many more. MEDEF officials sees prospect in the country that has an estimated GDP of USD 63 billion in 2015 and has achieved has achieved double- digit growth in real terms, averaging 10.6% per year in the last decade. Le Monde wrote despite the economic growth of the country, the recent political turmoil could upset the economic perspective and the country has been in the lime light for the wrong reasons, for political instability, the resignation of the Prime Minister and the declaration of state of emergency. The paper quoted a Kenyan based European analyst who described Ethiopia “the sick country of the region, where it’s cracking everywhere.” Strange context for investors exploring business opportunities, the paper wrote.
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