XXXI. State-owned enterprises (SOEs) either dominate or operate in full monopoly in
strategic sectors such as power generation and distribution, telecommunication
and air transport. In the financial sector, over 50 percent of the lending
activities, mainly to households and small businesses, are controlled by private
indigenously-owned institutions in urban areas while microfinance institutions
respond to the needs and expectations of households in rural areas.
XXXII. Ethiopia does not have a stock exchange, but it does have the Ethiopia
Commodities Exchange (ECE), which is predominantly membership based.
G.
Socioeconomic Development
XXXIII. Several advances have also been made in key areas of socioeconomic
development. Net primary school enrolments quadrupled from 22 percent in
1991 to 83.4 percent in 2007/08, child mortality nearly halved from 204 per 1000
births in 1990 to 123 per 1000 births in 2007/08, and the number of people with
access to clean water more than doubled from 19 in 1990 to 52 in 2006/07. More
recently, poverty reduction has accelerated. The poverty headcount, which stood
at 46 percent in 1995/96 and 44 percent in 2000/01, fell to 39 percent in 2005/06.
Notwithstanding these gains, Ethiopia is a long way from achieving some of the
Millennium Development Goals (MDGs) by 2015, given the country’s very low
starting point. At the same time, the country faces widespread poverty twentyfive years after it suffered a devastating famine that killed more than one million
people.
H.
Key Strengths and Challenges
Strengths
Symbol of African Resistance
XXXIV. Ethiopia has maintained - uninterrupted - its old age independence thereby
enjoying a unique position in Africa. The country was, no doubt, the most
persistent and uncompromising anti-imperialist conscience and spirit of Africa
as a result of its direct armed confrontation with the allied international forces of
imperialism. It remains a symbol of the indomitable spirit of African resistance
against foreign domination.
XXXV. As a result of not having been colonised, the country has some unique attributes
which can be harnessed for development. Ethiopia has the continent’s only
ancient written language with its own alphabet. The country also has its own
calendar, based on the Coptic calendar, which is roughly eight years behind the
Gregorian calendar. It has the largest number of UNESCO World Heritage Sites
(8 out of 78)
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