Ethiopia is positioned for unprecedented economic growth as the production of natural gas and massive fertilizer facilities converge to transform the East African nation into a continental industrial powerhouse, Zemedeneh Nigatu, CBE Capital Investment Bank CEO and a seasoned Ethiopian American investment advisor said.
The 2.5 billion USD urea fertilizer complex deal between Ethiopia and Dangote Industries Limited, is forecasted to boost economic transformation as the investment eliminates billions of dollars in fertilizer imports.
The country’s emergence as a natural gas producer, combined with upcoming fertilizer plants will replace billions in annual import expenditure, representing a fundamental shift in Ethiopia’s economic trajectory from resource dependency to industrial self-sufficiency and export capacity.
The recent announcement of substantial natural gas reserves in the Kalub and Hilala fields represents a game-changing development for Ethiopia’s industrial ambitions. The gas is
readily available now in Ethiopia, Zemedeneh said, noting that the deposits are sufficient to support pipeline infrastructure powering the country’s emerging fertilizer industry.
source: biznews
