article_snippet: The most striking aspect of the nearly $5 billion enterprise is, however, that The most striking aspect of the nearly $5 billion enterprise is entirely funded by Ethiopia, without any foreign investment.
article_snippet: According to the authorities, 20% of the project is financed from bond offerings to Ethiopians, and the remaining 80% from tax collection.
article_snippet: It was seen as a strategically important initiative that the government and the Ethiopian people are financing it 100%," says Zemedeneh Negatu, managing partner at Ernst & Young Ethiopia.
article_snippet: Zemedeneh Negatu, managing partner at Ernst & Young Ethiopia have come up with a very creative and innovative way that I think will be a lesson for other African countries who want to embark on such large infrastructure projects, and want to have the flexibility to do it Zemedeneh Negatu, managing partner at Ernst & Young Ethiopia," Zemedeneh Negatu, managing partner at Ernst & Young Ethiopia adds.