The U.K. government this week urged its citizens to leave Ethiopia immediately due to the risks from its escalating civil conflict, following similar warnings by the likes of Germany, France, the U.S., and Turkey.

This comes just over a year into fighting between the federal government and forces in its northern Tigray state - originally aimed at neutralizing the Tigray People's Liberation Front. It has left thousands dead, displaced at least 2m people according to the UN, while threatening to further escalate already simmering ethnic tensions.

Prime minister Abiy Ahmed declared this week that he would personally lead the war effort from the front, following reports that rebel forces - which have announced a coalition to remove his government - have gained the upper hand over government troops, and could attack the capital Addis Ababa.

Regional and international mediation efforts have so far failed to produce a ceasefire, with any political settlement looking like a distant prospect.

All of this is unravelling one of Africa’s more promising economic stories.

With double digit growth for much of the last two decades, many had tipped Ethiopia as a potential economic powerhouse, on the cusp of a manufacturing and industrial transformation comparable to China.

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