Friday 20 October 2017
(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 and offers accommodation ranging from single bedrooms to whole homes in 65,000 cities in 191 countries. The company announced Tuesday that it would invest $1 million (850,000 euros) in Africa by 2020 to "promote and...
(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 of farmers relocating to Ethiopia is misinformed, alarmist and reckless as the flower industry has continued to grow and expand rather than shrink," Khisa said in Naivasha, about 90 km northwest of Nairobi, referring to Nakuru Governor Lee Kinyanjui, who...
(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...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(Voice of America 09/25/17)
African first ladies and activists hailed progress that some governments on the continent are making on gender equality. They met on the sidelines of the United Nations General Assembly in New York. “We used to have 23 percent female representation in parliament but, with the stroke of a pen it went up to 48 percent. So, we managed to double our female representation with that decision,” said Namibia’s first lady Monica Geingos at a roundtable invitation-only event co-hosted by the...
(Xinhuanet 09/22/17)
Ethiopia has planned to promote domestic tourism as part of the World Tourism Day celebration, which will be celebrated September 27 worldwide. The World Tourism Day celebration in Ethiopia is a week-long program, from September 21 to 27, in which the Ethiopian government envisaged to promote domestic tourism among Ethiopians with due emphasis given to the east African country's historical and natural attraction sites. According to the Ethiopian Culture and Tourism Ministry, over 3.32 billion U.S. dollars revenue was generated...
(AfricaNews 09/22/17)
Nigeria and South Africa may be out of recession, however Kenya and Ethiopia might soon outshine these economic giants in the competition for investment, according to the newly released Africa Risk-Reward Index. The report compiled by Oxford Economics, an advisory group affiliated with the Oxford University, UK, says rising security risks and political instability in Egypt, economic downturn and militancy in Nigeria and escalating political risks in South Africa have led to doubts whether opportunities in these markets are still...
(APA 09/20/17)
The World Bank has approved additional financing of $700 million to support Ethiopia’s efforts to improve equitable access to basic services and reinforce accountability systems. The assistance is in line with the country’s second Growth and Transformation Plan, as well as the World Bank Group’s new Country Partnership Framework for Ethiopia, said Victoria Monchuk, WB project task team leader while announcing the financing in Addis Ababa on Tuesday. “Our support through Enhancing Shared Prosperity through Equitable Services (ESPES) and related...
(The Guardian 09/18/17)
Anna Jones says that, through selling its cocoa cheaply, Africa is exporting its wealth overseas; while Sue Banford claims that the soya moratorium in the Amazon has done nothing to halt deforestation. Only the final paragraph in your article on cocoa farming causing deforestation in Ivory Coast (Forests pay price for world’s taste for cocoa, 14 September) mentioned the most fundamental thing – the farmer’s livelihood, or lack of it. The low value of his (or more likely her) crop...
(Bloomberg 09/15/17)
Ethiopia is considering finding a new partner to develop a potash mine abandoned last year by Israel Chemicals Ltd., which has sought compensation at an arbitration court after accusing the government of failing to support the project. Several companies are interested in developing potash deposits in the country’s northeastern Afar region, Mines Minister Motuma Mekassa said in an interview Wednesday in the capital, Addis Ababa. The government is eager to begin work on the project as long as there are...
(Xinhuanet 09/15/17)
Sherry Zhang, the General Manager of Huajin shoe making factory, is a zealous Chinese investor with a determination to expand job opportunities for Ethiopia's skilled youthful population. In the next five years, her firm that is located in Ethiopia capital Addis Ababa's Eastern Industrial Zone will be prospecting 100,000 jobs for the locals. "We currently have 4,200 employees and next year we expect to increase the number to 6,000," Sherry told Xinhua during a recent tour to the factory. "But...

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