Ethiopia Food & Drink Q1 2021
Key View:
We believe that the Ethiopian food and drink sector will continue on a positive growth trajectory, despite a decelerationin food and non-alcoholic drinks spending growth due to the high base effects in 2020 as consumers shifted their purchasingpatterns amid high levels of uncertainty due to Covid-19. We forecast alcoholic drinks spending growth to accelerate, driven by thegradual recovery in household spending. Over the medium term (2021-2024), we forecast food and drinks spending growth toremain positive, supported improving economic growth in 2021, ongoing government stimulus measures, better employmentfigures and increasing household disposable incomes.
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