Korean auto giant, Hyundai opens an assembly plant in Ethiopia. This comes a month after German auto giants DW announced entry into Ethiopia. The plant is a joint venture between the South Korean carmaker and decorated Ethiopian athlete Haile Gebreselassie who owns Marathon Motors brand.
Hyundai Motor Company CEO, Mr. Won Hee Lee, was in town for the inaugural ceremony as was Gebreselassie and high ranking government officials including Foreign Affairs minister, Workneh Ghebeyehu.
Ethiopia’s economy has been on an upward trajectory in the last few years despite anti-government unrest that roiled especially its largest region – Oromia. The coming into office of Prime Minister Abiy Ahmed in April 2018 has added more economic boost to his wide ranging democratic reforms.
International lenders have made key budgetary support for the government whiles the formerly tightly controlled economy is being loosened up by Abiy’s reforms.
