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Ethiopia
- Fresh financing will bolster Ethiopia’s progress in achieving wheat self-sufficiency.
- Data shows Ethiopia’s wheat productivity has struggled to match the demands of a rising population, urbanization, and economic expansion over the past decade.
- Statistics show that Ethiopia’s annual wheat imports average roughly $600 million.
Ethiopia, the second-largest wheat producer in sub-Saharan Africa, has received a significant boost from the African Development Bank (AfDB) in the form of an $84.3 million grant aimed at propelling the nation’s wheat production to new heights.
The grant, a collaborative effort between the AfDB, the Government of the Netherlands, agribusiness firm OCP Africa, and the Global Center on Adaptation, holds the promise of not only enhancing wheat production but also bolstering exports.
CREW initiative in Ethiopia’s wheat production
As wheat gains prominence as a major crop cultivated across the vast expanse of African plains, Ethiopia strategically positions itself as a pivotal player in the sub-sector.…
- Safaricom targets a customer base of at least 10 million across 25 cities in the next year.
- Since Safaricom Ethiopia switched on its mobile telecommunications network, it has grown coverage from an initial 11 to 22 cities.
- Safaricom Ethiopia is building a wholly-owned mobile network and also has infrastructure sharing deal with state-owned Ethio Telecom.
Safaricom is now targeting a customer base of at least 10 million in Ethiopia in the next one year. The move is tailored to shake up the country’s telecommunication industry. (nelsongreerpainting) Latest developments follows huge investments in the country, with cash transfer service M-PESA now on the table.
Since Safaricom Telecommunications Ethiopia switched on its mobile telecommunications network and services in Addis Ababa in October last year, major inroads have been made in the second-most populous country in Africa.
It has grown coverage from an initial 11 cities when it launched to 22. …
Africa has been hailed as the next frontier in the provision of global oil and natural gas resources, especially now in the wake of the ongoing Russia-Ukraine war.
This crisis has not only altered the global energy landscape, but also instigated an inflation in gas prices, given the former’s position in the hierarchy of major global producers. As sanctions continue to soar, Europe has embarked on a quest to find contingency energy supplies, as it seeks to minimize its dependency on Russia; which has already cut off gas supplies to countries like Finland, Poland and Bulgaria, over energy payment disputes.
Consequently, Africa’s gas resources have gained a newly found prominence, pertinently by the European Union (EU); owing to the continent’s rich endowment of oil and deep gas reserves. The mounting global demand for gas, has been pushing international energy companies to reconsider African projects. The numerous ongoing and upcoming oil …
Ethiopian Airlines Group to consider buying a stake in South African Airways (SAA) should South Africa decide to sell equity in the struggling state carrier.
Since 2011 South African Airways has not made profit, the airline delayed the release of its annual earnings due to its precarious financial state.
Group Chief Executive Officer of Ethiopian Airlines, Tewolde GebreMariam said that despite the African National Congress saying it would consider selling equity in the airline, there has been no visible strategy for such a plan.
“We are interested in supporting South African Airways,” he said in an interview at Ethiopian’s head office near Addis Ababa airport.
He added that if South Africa asked Ethiopian to buy a stake they would consider it. Ethiopia and SAA are already partners in the Star Alliance.
Tewolde said that the group had discussions with SAA’s former Chief Executive Officer Vuyani Jarana before his resignation in …
Kenya Commercial Bank (KCB ) plans to venture into Ethiopia and the Democratic Republic of Congo (DRC) as it seeks to grow its regional footprint.
The bank is looking at additional markets for expansion while it awaits a licence to operate in Ethiopia, where it already has a representative office that was opened in 2015.
“We are talking about two markets in trying to scale up our businesses so the market we are looking at is Congo and Ethiopia because they are very much aligned to our business,” said Joshua Oigara chief executive.
“For us, there is a chance to really grow our business to reach the psychological height of Sh1 trillion of balance sheet size which is a strong size,” he added
Mr Oigara did not provide a timeline for when the bank will enter DRC. The bank also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan. (…
The state-owned Ethiopian Airlines Group made a total profit of 8.9 billion birrs ($326 million) before tax.
The Ethiopian Airlines Group made the revenue from transporting passengers and goods as well as providing other services by its group’s companies such as training, catering among others. This is according to a report done by the Ethiopian Public Enterprises Assets and Administration Agency, which evaluated the performance of the Group.
The report shows that from the total revenue the company generated, $3.9 billion is collected in hard currency from international customers.
During the current Ethiopian year which started on July 8, 2019, Ethiopian Airline Group has planned to collect total revenue of 155 billion birrs which is about $5.7 billion. It also stated that the group aims to report a gross profit of 19 billion birrs which is about $696 million at the end of the year – July 7, 2020.
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Ethiopia to benefit from an impulse startup program set to build linkages between corporations and start-ups using Agritech solutions
Mohammed VI Polytechnic University (UM6P) and OCP Africa have partnered to start the program in Ethiopia. According to the press statement issued by the company, the program aims at helping Ethiopia unlock its agricultural potential
“Following the success of the Impulse program in Ghana, Nigeria and Ivory Coast, OCP Africa is making the last stop in Ethiopia, to convene with key stakeholders from the agriculture, entrepreneurship and innovation ecosystems,” the statement read.
The program is a 12-week acceleration program dedicated to innovative start-ups in the field of biotech, agritech, mining tech and material science and Nanoengineering. It uses an impact-focused model to help entrepreneurs take their startups to the next level.
“The agricultural transformation in Ethiopia represents a unique opportunity for Agritech start-ups,” said. We believe the Impulse start-up …
Bowmans Law firm, a leading pan African legal entity specializing in business deals, merger and acquisitions (M&A) is set to launch its base in Ethiopia and Mauritius at the beginning of October 2019. The move is seen as an expansion of the company to two countries where FDIs have remained high coupled with financial growth.
Bowmans is opening a fully-fledged office in Mauritius, having joined forces with FirmWise, a local firm that specialises in corporate law, mergers and acquisitions, banking and finance, investment funds, tax, compliance and private equity.
Robert Legh, chairman, and senior partner, says ‘This move, which is effective from 1 October 2019, is an investment in the ambitions and success of our clients across Africa. Mauritius and Ethiopia are key jurisdictions for many of our clients and our presence on the ground there will help us to better support them.’
The law firm already has a presence …
Ethiopian Airlines is expanding its partnership with CellPoint Digital a leading provider of digital commerce and payment solutions for airlines, to offer more popular payment methods to its passengers with a specific interest to Chinese visitors.
Last year, Ethiopian Airlines adopted CellPoint’s Velocity payment platform to implement a mobile-first payment strategy and create a more seamless customer experience in its mobile app. Ethiopian Airlines initially added Alipay and saw promising growth in bookings through its mobile app in some markets. Ethiopian Airlines is now introducing WeChat Pay and KNET to cater to the international travel market.
China is set to displace the United States as the world’s largest aviation market by the mid-2020s and is a key growth market for Ethiopian Airlines. Millions of Chinese tourists use Alipay and WeChat Pay to make travel purchases, and together these two alternative forms of payment cover more than 90% of the Chinese …
