Ethiopia Business Overview

Business and Economic Overview

Ethiopia is one of the fastest growing economies and the second most populous country in Africa. The strong economy has been assisted by the significant public sector investment in infrastructure including roads, railways, dams, industrial parks and housing complexes. According to the 2020 World Bank Report, GDP amounted to $107.65 billion, with a per capita of $936.3 (2020). The GDP adjusted by purchasing power parity (PPP) was $2423.0.

Business etiquette is relatively formal in Ethiopia. Prior appointments and formal attire are appreciated for business meetings. English is widely used in business circles. It is common to shake hands to greet, using the right hand or both hands. Ethiopians also often greet close friends with an embrace.

Ethiopia remains a traditional and hierarchical society and people stand up to greet those who are older, to their superiors and guests. It is recommended to use titles such as ‘Ato’ (Mr), ‘Woizerit’ (Miss), ‘Woizero’ (Mrs) and professional or academic titles until invited otherwise. Titles are used in combination with first names, not surnames.

Reference

• https://uk.practicallaw.thomsonreuters.com/w-016-1313?transitionType=Default&contextData=(sc.Default)&firstPage=true