Tuesday 17 October 2017
(East African Business Week 08/25/17)
The hospitality sector in Africa’s emerging markets looks set to profit from foreign investment and an influx of foreign travellers. The emerging markets are set to post faster growth in revenue than their counterparts in developed countries, making them integral to the expansion strategies of some of the world’s leading hotel developers. Pietro Calicchio, Hospitality & Gaming Industry leader for PwC Southern Africa says: “The growth potential of Africa is high mainly because of the rapid economic growth in some economies, a growing middle class and an increase in visits from foreign visitors. “The emerging markets are a sought after destination for foreign investors – it is in these markets where there is continued economic growth and a need for...
(Bloomberg 08/24/17)
Every African nation that’s sold dollar debt now has at least one junk rating, but it would be hard to tell by looking at the bond market. The average yield on sovereign Eurobonds in Africa has hovered near the lowest level in two years this month, according to a Standard Bank Group Ltd. index, even after Moody’s Investors Service cut Namibia to below investment grade on Aug. 11. The world’s biggest producer of marine diamonds had been the continent’s only dollar-bond issuer without a junk rating. A low interest rate environment in the developed world has encouraged investors to look past the problems plaguing African economies, including low commodity prices, dollar shortages in some of them and rising political tension...
(APA 08/23/17)
The Federal HIV/ AIDS Prevention and Control Office (HAPCO) says HIV remains to be one of the major health challenges in Ethiopia with over 27000 new infections last year. In an exclusive interview with APA on Wednesday, Acting Director of HAPCo Dr. Achamyeleh Alebachew said currently at least 718,000 people are living with HIV across Ethiopia. “HIV new infections have declined by 90 percent compared to the level in 2000 but there are still 27000 new HIV infections during the previous year. There are around 16000 deaths due to AIDS still. It is evident that HIV/AIDS is still big health problem in our country.” According to the acting director, currently there are around nine million people who receive HIV councling...
(Xinhuanet 08/23/17)
China is dedicated to enhancing its cooperation with Africa in human resource development through knowledge and technology transfer, a Chinese diplomat said Tuesday. Liu Tao, Charge d'Affaires of the Chinese Embassy in Ethiopia, made the remarks at the Chinese Government Training Program Fellowship Reception in Ethiopia's capital Addis Ababa. He said China, since the year 2000, has sent over 2,000 agricultural experts and over 7,000 medical personnel to Africa, and has trained more than 80,000 Africans from more than 50 countries. China has pledged that it would, in three years, train 200,000 technicians and provide 40,000 training opportunities in China, and will offer 30,000 government scholarships, he said. Stating that 1,100 Ethiopian candidates are invited this year to attend short-term...
(AFP (eng) 08/22/17)
Sudan on Monday warned Khartoum residents along the Nile of likely "massive floods" as water levels of the river rose to a record high following heavy rains in neighbouring Ethiopia. The Blue Nile flowing to Sudan from Ethiopia converges with the White Nile in Khartoum, and from there they become the Nile which runs through the country into Egypt. Almost 75 percent of the water in the Nile is brought by the Blue Nile, which swells every year during the rainy season in Ethiopia. "Water levels of Blue Nile and the Nile are rising, and today the level of the Nile reached its highest in 100 years in Khartoum," the irrigation ministry said in a statement. "The water level touched...
(Xinhuanet 08/22/17)
Lesotho's King Letsie III on Monday arrived in Ethiopia's capital Addis Ababa on a visit to boost ties of the two African countries. King Letsie III, during his four-day visit to Ethiopia, is expected to meet senior Ethiopian government officials, including President of Ethiopia Mulatu Teshome and Prime Minister Hailemariam Desalegn, according to the Ethiopian Foreign Affairs Ministry. The king is also expected to visit various infrastructure projects in the East African country, particularly the Bole Lemi industrial park on the outskirts of Addis Ababa and the Ethiopian Airline's Aviation Academy, it was indicated. Activities implemented by the Ethiopian government to improve country's food security are also said to be the areas
(Xinhuanet 08/22/17)
Ethiopian Prime Minister Hailemariam Desalegn said Monday his country would give continued support for South Sudan's peace and stability. Desalegn made the remarks while holding talks with South Sudan's Petroleum Minister Ezekiel Lol Gatkuoth on ways of ensuring peace and security in South Sudan in Ethiopia's capital Addis Ababa. He also urged the South Sudanese government to work towards a full restoration of peace and stability in the country and solve the nation's problems in a more inclusive manner, Ethiopia's state news agency reported. Desalegn also stressed the need to install comprehensive public participation as a crucial impetus to build political solution to the ongoing crisis in the world's youngest nation. Ethiopia and South Sudan have earlier this year signed...
(Reuters (Eng) 08/22/17)
A major project to restore land in Ethiopia's Tigray Region to boost millions of people's ability to grow food won gold on Tuesday in a U.N.-backed award for the world's best policies to combat desertification and improve fertility of drylands. Tigray's drylands, home to more than 4.3 million people, are being restored on a massive scale, said the World Future Council, a foundation which organized the award together with the United Nations Convention to Combat Desertification (UNCCD). The Tigray government has mobilized villagers to volunteer 20 days a year to build terraces, irrigation projects, build stone walls on mountains and hillsides, and other projects. As a result, groundwater levels have risen, soil erosion has reduced, and people's ability to grow...
(Xinhuanet 08/22/17)
African officials on Monday called for urgent infrastructural development and regional integration to boost the continent's economy. At the Infrastructure Africa 2017 in Johannesburg, Zambian Minister of Finance Felix Mutati encouraged Africans to speedily address infrastructural deficit. "We have to inject some sense of urgency in ourselves. If we remain captured by business as usual, we are headed for disaster," said Mutati at the opening ceremony of the two-day event. "Competitiveness in Africa is being constrained by infrastructure deficit. We need about 93 billion U.S. dollars every year to address the infrastructure gap in the continent. We need to urgently implement projects," he said. Mutati said Africa has to narrow focus to innovative financing and design, better use of existing...
(The Independent 08/21/17)
The UK's International Development Secretary, Priti Patel, urges the world to do more to help people 'at risk of starving to death as extreme hunger stalks East Africa' Millions of people in Ethiopia require “immediate life-saving intervention” after a severe drought and major flash floods have devastated livestock and crops, the United Nations has warned. At least 7.8 million people have been receiving emergency food aid since April, up from 5.6 million at the start of the year, but a further 700,000 people in the country’s Somali region did not receive supplies “due to resource constraints” and they are now feared to be on the brink of starvation. In July, there were 376,000 severely malnourished children under five and 3.6...
(Xinhuanet 08/21/17)
The following are news highlights in Ethiopia's major media outlets on Monday. -- Ethiopian Prime Minister Hailemariam Desalegn said that his government would support the private sector to improve its efficiency and productivity. During the 3rd national government-private sector consultation forum held on Saturday, the Premier said the government would contribute share for the development of the sector. (Ethiopian News Agency/ENA) -- Lesotho's King Letsie III will arrive in Addis Ababa, the capital of Ethiopia on Monday for a four-day state visit, the Ministry of Foreign Affairs said. (Ethiopian News Agency/ENA) -- Qatar Chamber held a meeting with an Ethiopian government delegation on Saturday to review and enhance trade ties between the two countries. (Fana Broadcasting Corporate/FBC)
(Bloomberg 08/21/17)
GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telecommunications towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 billion people without reliable electricity, according to the International Energy Agency. The problem extends to businesses as well as households, cutting into productivity and growth. “We reduce the total cost of power by 30 percent,” said Charlotte Aubin-Kalaidjian, the founder and chief executive officer of GreenWish, who was formerly a managing director at Morgan Stanley Investment Management. “Smaller towers can run...
(AfricaNews 08/18/17)
Hailemariam Desalegn, the Ethiopian Prime Minister has identified poverty as the main underlying factor of instability in the Horn of Africa region. He added that economic integration was a sure means to secure the region. The 52-year-old Premier who just ended a three-day official visit to Sudan was addressing Khartoum-based diplomatic community and Sudanese intellectuals. His research paper titled: ‘Horn of Africa: Possibilities of an Economic Community,’ stressed the need for the region despite its security challenges to build global competitiveness via economic integration. The time is now for Africans to play their role by filling the market gap observed at the global level. “The time is now for Africans to play their role by filling the market gap observed...
(Agence Ecofin 08/18/17)
At the end of the 2016-17 fiscal year, Ethiopia’s horticultural exports generated $271 million for the economy, according to hortibiz.com. According to the authority in charge of the sector and agricultural investment, this is slightly (+1.5%) above the revenues generated a year before ($275 million) but far below (-41.2% or $190 million) what it targeted revenues for the period. In details, the authority said cut flowers remain the main source of revenues in the sector with earnings standing at about $218 million, which is more than 80% of total revenues. Regarding fruits and vegetables exports, they generated $53 million for the economy. Ethiopia, it should be recalled, is Africa’s second largest cut flowers exporter and Europe’s second supplier behind Kenya. Espoir Olodo
(2Merkato 08/18/17)
Ethiopia imported a total of 117,032 vehicles in the just concluded fiscal year. The news was disclosed by Ethiopian Transport Authority (ETA). Commenting on the development, ETA’s Public Relation Head, Yigzaw Dagne, said the number might be higher as there might be cars in different states that are not registered within the national database. According to Yigzaw the number of cars being imported Ethiopia have been increasing every year. Following last year’s vehicles import, the number of cars in Ethiopia increased to 825,448 from 708,416, he explained. Nevertheless, the Authority does not have the number of vehicles on the street and off the street. Source: Walta Information Center
(Xinhuanet 08/16/17)
Ethiopian Prime Minister Hailemariam Desalegn left here on Tuesday for a three-day official state visit to Ethiopia's neighboring country Sudan. Desalegn, during his visit to Sudan starting from Tuesday, is expected to discuss bilateral and regional issues with Sudanese President Omar Hassan al-Bashir on ways of strengthening ties between the two neighboring countries, according to the Ethiopian Foreign Affairs Ministry. The prime minister is also expected to hold talks with Sudan's First Vice-President and Prime Minister Bakri Hassan Salih. He will then deliver a lecture in Sudan's capital Khartoum on Thursday on topics pertaining the Horn of Africa region state of affairs, it was indicated.
(Xinhuanet 08/16/17)
Ethiopia has generated close to 271 million U.S. dollars from the exports of flower and other horticulture products during the just concluded Ethiopian fiscal year, the Ethiopian horticulture and Agriculture Investment Authority revealed on Tuesday. The Ethiopian Horticulture and Agriculture Investment Authority, however, disclosed that the amount earned during the just concluded 2016-2017 Ethiopian fiscal year was slightly less than last fiscal year's earnings by 1.5 percent. The authority further indicated that the revenue earned from the sector was 190 million U.S. dollars short of its initial target for the reported period. Export of flower holds the lion-share of the total 271 million U.S. dollars generated from the sector, with 218 million U.S. dollars. Other horticulture products, vegetable and fruits,...
(Xinhuanet 08/16/17)
In what appears to be a concrete answer to the preoccupations of the public, the Ethiopian government is undertaking its large scale anti-corruption investigation and arrest during the past few weeks. During the crack down, 56 senior government officials, businessperson and middlemen were arrested in less than a month. The Ethiopian Ministry of Government Communication Affairs Office has indicated that the large-scale anti-corruption investigation and arrest of high-profile individuals is part of the Ethiopian government's reform agenda, which was started at the end of 2016 following mass protests in different parts of the country. The Ethiopian government has since then stressed bad-governance and corruption among the major reasons for the preoccupations of the public that rocked the east African country...
(Voice of America 08/16/17)
Food insecurity in the Somali region of Ethiopia has worsened, putting 700,000 people on the verge of starvation, according to Oxfam International. The humanitarian organization says that about 8.5 million people across the country face a high risk of hunger, a 30 percent increase since the beginning of the year. Food shortages and hunger have led to displacement and negative coping mechanisms such as increases in child labor, early marriage and school dropouts, according to a recent joint report by the Ethiopian government and humanitarian partners. “Sex for food and child labor were reported in some woredas [districts],” the report said. Much of Ethiopia is now in the midst of its lean season, and some people at risk have not...
(Nazret 08/16/17)
Gishen Pharmacy says they will publicly apologize if it is proven their pharmacists sold medicine without a prescription. An article in the Guardian entitled: “Inside the doping hotspot of Ethiopia: dodgy testing and Erythroprotien (EPO) over the counter,” which came as a result of a joint investigation by the German broadcaster ARD and Holland Media, suggests that it is easy to obtain doping products in the country and that the anti-doping agency tasked with testing athletes is disorganized. The writer of the article claimed that they bought nine phials of EPO were purchased at a cost of 2,430 birr from Gishen Pharmacy which is located around Addis Ababa stadium and no prescriptions were sought when the transaction was made. However,...

Pages