The field of IT outsourcing is rapidly growing in Ethiopia and East Africa. With the increasing demand for IT professionals and cost-effectiveness, the region has become an attractive destination for companies looking to outsource their IT services. But what are the numbers behind this growth, and what are the factors driving it? And what is the future projection for this industry in the region?
According to a recent report by The International Monetary Fund (IMF), Ethiopia’s economy is projected to grow at a rate of 6.5% in 2022, making it one of the fastest-growing economies in Africa. The IT sector is a major contributor to this growth, with a projected annual growth rate of 15% as per the Ethiopia Investment Commission. This is driven by a number of factors, including a large youth population, a focus on education and technology, and the government’s efforts to attract foreign investment.
Similarly, the IT outsourcing industry in East Africa is also projected to grow rapidly, with a projected annual growth rate of 10% as per the IT Industry association of East Africa. This is driven by a number of factors, including a growing number of IT graduates, a rising demand for IT professionals, and the region’s.