Population
Ethiopia has a population of over 110 million people, making it the second most populous country in Africa after Nigeria. It is currently one of the fastest growing countries in the world and its population is expected to surpass 200 million in 2050.
Political and Economic Outlook
Prime Minister Abiy Ahmed was sworn in for a new five-year term in October 2020. He has launched a campaign of political liberalisation at home and sought to end disputes with Ethiopia's neighbours. However violence continues over control of the northern Ethiopian region of Tigray.
Looking to attract foreign investors, the Ethiopian government has shown a change in policy plans to privatise leading state-owned enterprises. Abiy Ahmed favours free market capitalism.
In January 2020, Ethiopia passed a new investment law allowing overseas investors to buy into other sectors of its economy that had before been reserved for the state or domestic investors.
Over the last decade, Ethiopia has had one of the fastest growing economies in the world, with average annual growth rate of 9.4 per cent. Real Gross Domestic Product (GDP) slowed to 6.1 per cent due to Covid-19 in 2020. The economy is on track to grow just two per cent this year.
Betting companies are also now required to submit regular reports on their activities. However, the new directive does allow for an expansion of the market and will open it up to new entrants. Ethiopia’s new investment framework made no changes to sports betting meaning that the activity is for now exclusively reserved for domestic investors and thus inaccessible to foreign capital.
Sports Betting Regulation
There are around 40 local sports betting operators. Sports betting has become the focal point of increasing government scrutiny of late due to reports of underage and gambling related harm.
In January 2020, the administration stopped issuing new licenses to betting companies. As part of a move to reduce the negative impact of gambling, the National Lottery in collaboration with the Ethiopian Management Institute assessed the impacts of betting on society and presented its paper to the government.
Based on its findings and recommendations, the revenue minister issued The Sport Betting lottery Directive No. 172/2021. This directive put in place strict new measures aimed at reducing
gambling related harm. The administration significantly increased the license fees, raised the legal gambling age for sports betting from 18 to 21, restricted the location of sports betting shops so that they should not be located within 500 metres of religious institutions and school areas, and prohibited the establishment of betting establishments in restaurants, grocery stores and internet cafes.
Betting companies are also now required to submit regular reports on their activities. However, the new directive does allow for an expansion of the market and will open up to new entrants. Ethiopia’s new investment framework made no changes to sports betting meaning that the activity is for now exclusively reserved for domestic investors and is inaccessible to foreign capital.
WIRE / PULSE / INSIGHT / REPORTS P89
ETHIOPIA
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