Ethiopia Hires Deutsche Bank and JP Morgan for a 1Billion USD, 10 Year Note, Bond Sales

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Ethiopia has been growing at a double digit rate for the past decade and that has led to ratings of B1 (Moody), B (Standard & Poor), and B (Fitch) by three financial institutions.

Ethiopia via hired banks (Deutsche Bank and JP Morgan) will start organizing a series of fixed income investor meetings across Europe and the US starting Wednesday, November 26, 2014.

The following two articles talk about Ethiopia’s effort to tap into international bond markets to reportedly raise around US$1bn through a 10-year note.

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Kenyan Scholar Says: Ethiopia is Rising – It is time for Kenya to Wake up and Compete

By BITANGE NDEMO

In one of my blog posts, I wrote about Ethiopia’s infrastructure development. As usual Kenyans were in denial but the fact remains that Ethiopia is advancing faster than any other African country.

The World Bank report says “Over the past decade, Ethiopia has achieved high economic growth, averaging 10.7 per cent per year. In 2012, Ethiopia was the 12th fastest growing economy in the world. If the country can continue its historically impressive growth performance, it could potentially reach middle income status by 2025.”

We can choose to continue bragging as the largest and diversified economy in eastern Africa or get our house in order and begin to compete with the rest of the world. It is bad enough to be in a leadership position in a region with countries at the tail end of per capita income.

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