Jeffrey Sachs Hails Ethiopia as Africa’s Rising Economic Powerhouse Fueled by Infrastructure, Reform

Renowned American economist Jeffrey Sachs has praised Ethiopia as one of the world’s most dynamic and forward-looking economies, highlighting its rapid progress driven by visionary leadership, large-scale infrastructure investment, and bold macroeconomic reforms.

Speaking to the Ethiopian News Agency on the sidelines of the African Union Summit, Sachs said Ethiopia is pursuing development with a long-term strategic outlook, planning 10 to 20 years ahead to ensure structural transformation and sustainable growth.

The Columbia University professor commended Ethiopia’s investments in transport, energy, digital connectivity, and agriculture, noting that these sectors are laying a strong foundation for long-term prosperity and regional integration.

He emphasized that the alignment between infrastructure expansion and macroeconomic reform is creating favorable conditions for private-sector growth and increased investment.

Sachs particularly highlighted Ethiopia’s vast renewable energy potential including hydro, solar, wind, and geothermal resources describing it as central to the country’s development strategy.

He cited the Grand Ethiopian Renaissance Dam as a flagship project that will significantly boost national power generation and support regional electrification.

He added that improved electrification is already benefiting rural communities by increasing agricultural productivity and incomes.

Concluding his remarks, Sachs called for stronger continental cooperation under the African Union framework, stating that collective infrastructure development and regional integration are vital for Africa’s long-term economic transformation.