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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 …
Goh Betoch Bank a new financial institution that aims to introduce mortgage banking offers its shares to the public in Ethiopia.
Getahun Nana, the former VP of the central bank of Ethiopia, who is now one of the founding members of Goh Betoch Bank said: “Currently there are 1.2 million housing shortages in Ethiopia.” He added that Ethiopia needs to provide additional houses every year in order to meet the growing demand for housing that is why they have introduced the bank to provide loans for housing construction.
Getahum said that only less than 4% of the loans in Ethiopia goes to housing construction for both real estate developers and individuals as he briefed potential investors to the new bank.
Eng. Aisha Mohammed, Minister of Ministry of Construction and Urban Development of Ethiopia, expressed her hope that the new bank will benefit individuals who are engaged in real estate …
Halan an Egyptian technology startup that uses tuk-tuk to transport passengers and goods will begin operating in Ethiopia.
The company targets under-served communities and is expanding in more cities in the Egyptian governorates of Sharqeya, Daqahleya, Damietta, Qena and Gharbeya before the end of this year, said
The company was founded in November 2017 and already operates in around 20 to 25 cities in Egypt and Sudan.
Halan’s app allows customers to request for the three-wheeled vehicles, motorbikes or order food or goods for delivery through motorbikes or cargo tricycles.
Nakhla said the app has around 10,000 active drivers per month.
He continued to add that Egypt has around 70,000 tuk-tuks in its streets and Uber has 90,000 monthly active drivers in Egypt.
The company’s founder said, “Halan completes a few million rides per month, almost half a million of which are in food deliveries.” He further said that adding …
Ethiopia rejected a proposal by Egypt to operate on the $4 billion hydropower dam Ethiopia is building on the Nile.
This rejection is further deepening the disputes between the two nations over the project being conducted by Ethiopia.
In a press conference in Addis Ababa Ethiopia’s capital, Sileshi Beleke, minister for water, irrigation and energy described Egypt’s plan, which includes the volume of water it wants the dam to release annually as “inappropriate”
He further said that the proposal from Egypt was unilaterally decided and did not consider their previous agreements.
“We can’t agree with this…we will prepare our counter-proposal.”
In 2011, the Grand Ethiopian Renaissance Dam (GERD) was announced, it is designed to be the centrepiece of Ethiopia’s bid to become Africa’s biggest power exporter, generating more than 6,000 megawatts.
The dam has been the center of disagreements between Ethiopia and Egypt as the two countries disagree over the …
Ethiopia emerged as the largest recipient of Foreign Direct Investment (FDI) in East Africa, a new report released by financial consulting firm EY shows.
The 2019 survey carried out by EY Attractiveness showed that Ethiopia attracted foreign investments worth Ksh.726.6 billion last year compared to Kenya’s foreign investments, which stood at Ksh.207.6 billion in the same period.
Tanzania’s foreign investment stood at Ksh.103.8 billion.
According to the report, the FDI Ethiopia received translated to 16,000 jobs from 29 projects, while Kenya created 6,000 jobs from 64 projects and Tanzania created 3,000 jobs from 19 projects.
An expert said that Ethiopia’s “efficient” business environment has helped its much higher FDI flow compared to the rest of the region.
Mr Francis Kamau, a tax partner at audit and consultancy EY East Africa said,” “Ethiopia has affordable electricity supply and is served by an efficient airline”.
Mr Kamau also added that Ethiopia has …
Hawassa Industrial park sits 140 miles south of Addis Ababa. The park was built by China Civil Engineering Corporation in 2016 and has so far attracted several international companies. The park is part of a long-term vision to grow Ethiopia into a production hub. It houses factories including textile and agro-processing and has 25,000 employees producing garments.
In the last 5 to 6 years, the textile, and apparel industry have grown at an average of 51% and more than 65 international textile investment projects have been licensed for foreign investors, during this period.
According to the World Investment Report, Ethiopia is one of the top-performing African countries in FDI flow, especially in the textile sector. The government of Ethiopia believes that textile would help the nation to join middle-income status in 2025. As the way forward, the Ethiopian government has been building industrial parks at different cities of the country …
The Alliance for a Green Revolution in Africa, (AGRA), an agricultural think tank and partnership-driven institution in Africa has announced a change of guard with leading entrepreneur and owner of Econet Group Strive Masiyiwa stepping aside and former Ethiopian Prime Minister Hailemariam Desalegn taking the helm.
The seat has had a high-level representation since the founding chairman Kofi Annan stepped aside. It has been instrumental in developing formidable partnerships in the continent is promoting agricultural growth and investments.
‘I am thankful that I succeed Mr. Masiyiwa, a remarkable continental leader, who leaves behind a solid organization and an impressive track record. I remain certain of his support in the journey to achieving the continent’s major agricultural prospects,” noted Hailemariam Desalegn.
“Around the world, food security ranks high up on the governments’ development agenda…the Maputo Declaration requires African countries to spend 10 percent of their national budgets in agriculture, part of …
