Sunday 17 December 2017
(Reuters (Eng) 11/21/17)
KOMBOLCHA, Ethiopia (Reuters) - Checkered shirts for American chain Gap. Slate leggings for Swedish store H&M. Twill shorts for Germany’s Tchibo. They are among a growing list of clothes being stitched together for big brands in Ethiopia. As labor, raw material and tax costs rise in China - the world’s dominant textiles producer - the Horn of Africa country is scrambling to offer a cheaper alternative, and go up against established low-cost garment makers like Bangladesh and Vietnam. It is still early days, and most of the clothing companies to source production in Ethiopia are testing the waters with small volumes. But the government is working hard to attract their business with tax breaks, subsidies...
(Xinhuanet 11/17/17)
Sino-African relations have entered a new development stage of win-win cooperation, according to the fifth Biennial Conference of China-Africa Industrial Forum (CAIF) that opened here Thursday. Supporting Africa's industrialization and capacity cooperation are of vital importance in the next five years and Sino-African trade is likely to total 180 billion U.S. dollars in 2017, said CAIF secretary general Cheng Zhigang in the opening speech. Sino-African economic and trade cooperation has great potential, said Cheng. China has been Africa's largest trading partner since 2009. Chinese investments in Africa exceeded 100 billion dollars in 2016, about 50 times as much as in 2010. China's investments in Africa have also diversified in business areas, from construction and mining to emerging industries such as...
(Reuters (Eng) 11/14/17)
DUBAI (Reuters) - Ethiopian Airlines would be interested in buying around 10 to 20 of the mid-sized jets that Boeing is studying whether to develop, the African airline’s chief executive said on Tuesday. Boeing is looking at potentially filling a market gap between narrow and wide-body jets with a new aircraft that could seat 220 to 270 passengers. Ethiopian Chief Executive Tewolde Gebremariam said the airline was interested in a replacement for the out-of-production Boeing 757. “It is a very...
(APA 11/14/17)
Ethiopia, Egypt and Sudan have failed to reach a watershed deal on the Grand Ethiopian Renaissance Dam (GERD), a project Cairo fears would reduce its share of vital waters from the Nile River. Upon completion, GERD will be Africa’s largest dam with 6,450 MW installed power generating capacity. It is being built for an estimated cost of 4.7 billion US dollars. The disagreement came after the Water ministers of Ethiopia, Sudan and Egypt held their 7th joint meeting on 11...
(Reuters (Eng) 11/14/17)
KIGALI (Reuters) - The global airline industry has $1.2 billion blocked in nine dollar-strapped African countries, the International Air Transport Association (IATA) said on Monday. The global commodities price crash that began in 2014 hit economies across Africa hard, particularly big resource exporters such as Angola and Nigeria. Low oil and mineral prices have reduced government revenue and caused chronic dollar shortages and immense pressure on local currencies. The fiscal slump has meant governments have not allowed foreign airlines to...
(Reuters (Eng) 11/13/17)
ARGOBA, Ethiopia (Thomson Reuters Foundation) - Armed with a spear and undeterred by the intense sunlight, Tarekegn Kareto meticulously plucks weeds in his maize field in Argoba village, in southern Ethiopia. “With both dry weather and unusually heavy rains hitting us in the past year, I’ve lost over half of my harvest of maize and sorghum,” he said, pausing to wipe sweat off his forehead. “That means I’ve had to dip into my crop reserves – which I can no longer sell for extra income – or even rely on neighbors’ charity for food,” he added. Prolonged drought and erratic rainfall across the country have hit harvests...
(AfricaNews 11/10/17)
Ethiopian Prime Minister has spoken on the anti-corruption crackdown by Saudi Arabia. Hailemariam Desalegn said Addis Ababa was diplomatically following the issue especially as a national has been named. Mohammed Hussein Al Amoudi, an Ethiopian – born business mogul is part of the detained persons named late last week. But Premier Desalegn told local media in a briefing on Thursday that the government believes that Al Amoudi’s investments in the country will not be affected. The 71-year-old is currently under detention along with 11 Saudi princes, four current ministers and a number of former ministers. Saudi-owned Al Arabiya television said the probe is headed by Crown Prince Mohammed bin Salman.
(Reuters (Eng) 10/31/17)
HARARE (Reuters) - Economic growth is expected to rise to 3.4 percent in sub-Saharan Africa next year from 2.6 percent in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South African are the biggest economies in Africa south of the Sahara, but both nations have been clouded by political uncertainty linked to the tenure of their leaders. The IMF said a...
(Xinhuanet 10/19/17)
Ministers of Water and Irrigation of Ethiopia, Sudan and Egypt on Wednesday discussed on ways to continue the two commissioned studies on the Grand Ethiopian Renaissance Dam (GERD), which are not progressing at the required level. Egyptian Irrigation Minister, Mohamed Abdel-Aty, Sudanese Minister of Water Resources, Irrigation and Electricity Affairs, Muataz Musa, and Ethiopian Minister of Water, Irrigation and Electricity, Sileshi Bekele, have on Tuesday visited the dam's construction site in Ethiopia's Benishangul-Gumuz regional state on the Blue Nile River,...
(AFP (eng) 10/18/17)
Rent-a-room giant Airbnb said Tuesday that it had provided accommodation for 1.2 million visitors to Africa over the last year -- double the previous year as tourism expands across the continent. The website now offers more than 100,000 accommodation options in Africa, global public affairs director Chris Lehane said on a visit to Johannesburg. "It's an incredibly rich and diverse continent, an incredibly dynamic place, certainly a big part of our future," Lehane told AFP. Airbnb was founded in 2008...
(Xinhuanet 10/17/17)
Kenya's plantation union on Monday denied reports that flower farmers are relocating to Ethiopia due to frequent labor unrest in the east African nation. Kenya Plantation and Agricultural Workers Union (KPAWU) Assistant General Secretary Meshack Khisa rejected reports made by county officials as alarmist and reckless. He said that workers in the sector had the right to agitate for higher pay due to the high cost of living which had pushed up the price of basic commodities. "The governor's statements...
(APA 10/16/17)
APA-Dakar (Senegal) - The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration. AfDB President Adesina will receive...
(APA 10/11/17)
APA-Addis Ababa (Ethiopia) - The Ethio-Djibouti railway line linking the two neighboring east African countries will begin service as of November 8, 2017, an official of the Ethiopian Railways Corporation (ERC) said. The railway service was supposed to start early last month but was suspended due to problems associated with power supply shortage, the new acting General Manager of the corporation Dr. Berhanu Besha said during public debate on Wednesday. Dr Berhanu said problems associated with electric power supply to the line has been resolved as Ethiopia agreed to supply power and the cost to be dealt...
(AFP (eng) 10/10/17)
Ethiopia will devalue its currency by 15 percent in a bid to boost demand for its major exports, a state-run media outlet reported Tuesday. Africa's second most-populous country is also one of its best economic performers, with the International Monetary Fund (IMF) estimating in September that the economy had grown by 9 percent since 2016. Fana Broadcasting Corporate reported the devaluation of the birr currency will take effect on Wednesday and is intended to boost demand for the country's flagging...
(AFP (eng) 10/10/17)
Economic growth in sub-Saharan Africa is set to accelerate to 3.4 percent next year, the International Monetary Fund said Tuesday, citing Nigeria's recovering oil and agricultural sectors. The IMF said in its latest World Economic Outlook report that the region would grow by 2.6 percent this year after 1.4 percent in 2016. "Growth is expected to rise gradually," it said, while noting that the rate would be uneven and "barely above population growth". GDP in the west African powerhouse Nigeria...
(APA 10/06/17)
APA-Addis Ababa (Ethiopia) - India on Thursday pledged $195 million to support expansion of electric power transmission lines in Ethiopia. The pledge was announced by the visiting Indian President Ram Nath Kovind in Addis Ababa where the two countries agreed to work on trade, communication, information and media sectors. India will continue supporting Ethiopia’s economic development including education and health sectors said President Kovind in a joint press conference with his Ethiopian counterpart Dr. Mulatu Teshome. He stated that the...
(Reuters (Eng) 10/05/17)
NAIROBI (Reuters) - Hilton Worldwide Holdings Inc. (HLT.N) plans to spend $50 million over the next five years to add 100 hotels to its chain in Africa, it said on Thursday, joining other chains keen to tap growing business and international travel on the continent. One property will open in the Kenyan capital Nairobi by the end of this year and another in the Rwandan capital Kigali in 2018, it said in a statement. There was 11 percent growth in...
(APA 10/03/17)
APA-Addis Ababa (Ethiopia) - Ethiopia on Tuesday has launched a National Financial Inclusion Strategy to expand access and usage of affordable and high quality financial products and services for all people. According to the World Bank Survey (Findex2014), only 22 percent of adults have transaction accounts in regulated financial institutions in Ethiopia, lower than compared to Sub-Saharan Africa countries, which is at 34 percent on average. The strategy, to be implemented over the coming five years, would mainly focus on...
(APA 09/29/17)
Ethiopia has earned $2.9 billion in revenue from export trade during the country’s last fiscal year which ended on July 8, 2017, a top government official said The revenue has seen $1.1 billion lower than the targeted $ 4 billion, Asefa Mulugeta, Director General of Export Promotion at the Ministry of Trade, said in a briefing on Thursday. The International Monetary Fund (IMF) on Wednesday announced that Ethiopia’s economy showed strong resilience in 2016/17 amid continued weak global prices for...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...

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