It depends what you mean by Industrialisation - if you mean the typical coal-powered stuff? I haven't the faintest how you could do that pre-colonially short of discovering a vast coalfield and exploiting it. There is coal, but I'm not sure if it is accessible by pre-industrial tech. Certainly something to look into.
Myself, I've always thought the best approach is a focus on
1) Lumber Production - so much of Ethiopias problems would be solved with concerted efforts to produce lumber as a serious crop. Not easy, but very valuable.
2) Hydro-power - much of Britains early industrialisation was built on water power - with a bit of ingenuity, and some dams, Ethiopia could historically build many dams that could power industries (oddly enough, including coal mine pumps).
Now, this does mean dedicating serious expanses of land to wood production (with the associated side effects), and completely flooding numerous valleys - but the advantages of mechanical power would be useful - they're very close to many resources in the Indian Ocean, which extra lumber would help them build ships to access, and they can trade Ethiopian goods throughout the Indian Ocean, and with Europe via Egypt.
The key is the PoD - ideally they want money and knowledge - I think the best chance for this is with Romans ruling Egypt, and one of their engineers (say someone who works on water mills and aqueducts) is sent to Ethiopia (the Emperor thinks that they could benefit from Roman Clergy and Scholars and be a long term ally/client?), the engineer is more useful than the clergy, and Ethiopia starts using wind and water for grinding grains - knowledge sticks, and the Ethiopians eventually consider the idea of a dam.
It is vague as anything - but the fundamental points are wood, and water power - coal power requires a shallow outcropping that I'm unaware of, and then the ability to harness steam power - more complex than it sounds.