You may have heard of the Ethiopian GTP, but what exactly is it? Ethiopia seeks to reach middle-income status by 2025 by steadily switching from an agricultural economy to an industrial economy. This will be done through the introduction of the Growth and Transformation Plan (GTP) II.
Agriculture is currently the primary driver of economic growth, accounting for 46% of the overall Gross Domestic Product ( GDP), 80% of jobs and 85% of export revenues in Ethiopia. The transformation of the industrial economy involves strategic and structural ties with all sectors of the economy.
The extractive sector is well placed to be the driving force behind this transition. With the help of the 25-year Mineral Sector Development Plan of the Ministry of Mines Petroleum and Natural Gas, the mining sector aims to raise its contribution to GDP from 2% to 10% by 2025.
For thousands of years artisanal miners have mined gold in Ethiopia and gold deposits are widespread across the region. Southern Ethiopia’s greenbelt is already home to two gold mines, with MIDROC Ethiopia mining in Lega Dembi, and development has begun in Sakaro, Oromia. MIDROC has too been allowed a large-scale mining permit for gold and is beneath development at Metekel within the Benishangul Gumuz locale. Licenses have been issued to numerous neighborhood and remote large-scale gold mining firms.