Abyssinia Business Network /ABN/ March 2019

FREE TRADE :

FREE ?

2 nd YEAR NO 16 መጋቢት 2011 MAR 2019

Ethiopia 40.00 birr , USA 5.00 $ , Europe 5 .00 Euro South Africa 25.00Rand , Kenya 500 Sh ,UAE 10.00AED

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Abyssinia Business Nework መጋቢት 2011 / MAR 2019

TOGETHER, WE ARE BRINGING

THE FUTURE OF BANKING HIBIR-ET

The world has become a digital playground. The banking industry is now a digital game. United Bank is at the driving seat of digitalizing how you use your money so that you won’t be left behind in a constantly changing world.

በሕብረት ሠርተን በሕብረት እንደግ!

United, We Prosper!

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Editorial Team

MANAGING DIRECTOR Daniel Tiruneh

MANAGING EDITOR Getachew Alemu

EDITOR IN CHIEF Aklile Tsige

CONSULTANCY Zeima Ahmed

STAFF WRITERS Mekonnen Hailu Ketema Kebede Chacha Hiwot Salelew

Teshome Fantahun

REPORTER

Josephine Wawira Kamba Anthony

ABN: Main source of Business Information

Joseph Oduha

Designer Daniel Tiruheh Photo Sol Image

Distribution Hailu Abesse

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Abyssinia Business Network (ABN) is a monthly business magazine primarily focuses on business and economics as well as development. ABN has maintained its reputation and presence since its initial publication.

ABN enjoys a large number of readership including senior and middle level managers in private, public as well as non-governmental organizations. The magazine has been the number-one source of news and relevant information for both local and foreign investors as well as and entrepreneurs.

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Each month ABN magazine delivers not only the best business news but comprehensive coverage of the latest global investment issues. A wide circle of academicians, consultants and other professionals are registered readers of the magazine.

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To Undergo Face-Lift

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Hotel in Ethiopia

39

A DECADE JOURNEY

04 12 38

CONTENTS

Free Trade Be Free ?

TRADE WARS

Digitizing healthcare

Condolence Message from Abyssinia Business Network /ABN/ Abyssinia Business Network (ABN) is heartedly saddened by the news of the tragedy occurred I the morning of 10 th March, 2019, where by Ethiopian Airlines flight number ET 302 from Addis Ababa Bole International Airport to Nairobi crashed around Bishoftu (Debre Zeit) with all the 157 souls onboard.

Our deepest and heartfelt condolences go out to the families, friends, colleagues and beloved ones of the passengers and ET crews who have lost their lives.

Abyssinia Business Network /ABN/ Abyssinia Business Nework መጋቢት 2011 / MAR 2019

Will the

Free Trade Be Free ?

By Aklile Tsige

C

an African countries simultaneously foster trade liberalization, economic growth, and human rights in the context of the Continental Free Trade Area (CFTA)?

Many argue that they can, and that it would make economic and political sense for them to do so. Aklile Tsige goes through various sources to justify the issue.

Inception The African Continental Free Trade Area (AfCFTA) is a planned free trade area, outlined in the African Continental Free Trade Agreement among 49 of the 55 African Union nations. The free-trade area will be the largest in the world in terms of participating countries since the formation of the World Trade Organization (WTO).

Initially planning for agreement began in 2013, with negotiations held in 2015 via AU summits. The 1st negotiation forum was held in February 2016 and from February 2017 on the technical working groups held four meetings, where technical issues were discussed and implemented in the draft. Then after on 8-9 March 2018 the African Union Ministers of Trade approved the draft.

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Brokered by the African Union (AU), the agreement was signed by over 90% member states in Kigali, Rwanda on March 21st, 2018. The agreement initially requires members to remove tariffs from 90% of goods, allowing free access to commodities, goods, and services across the continent.

The Continental Free Trade Area is the first flagship project of the African Union’s (AU) Agenda 2063 and a key initiative in the industrialization and economic development of Africa.

It is an ambitious endeavor spanning 55 member states across a diverse continent.

Matching this ambition with implementation will be a critical challenge, which is why the report Assessing Regional Integration in Africa VIII (ARIA) turns to the question of how to “bring about” the AfCFTA. For this, the ARIA series is well placed, with a history of driving the agenda on regional integration in Africa. Notably, the recommendations of ARIA V helped trigger the decision to launch theAfCFTA negotiations alongside the adoption of the AU’s Action Plan for Boosting Intra-African Trade (BIAT).

Implementation Experts from the Economic Commission for Africa’s (ECA), African Trade Policy Centre (ATPC) met on March 1st 2019 in Libreville, Gabon and reviewed the guidelines for preparing national AfCFTA implementation strategies.

Experts examined current production and trade within a national and regional context; the identification and prioritization of opportunities for value chain development; a thorough analysis of constraints, including non-tariffs barriers and competitiveness issues faced by businesses and means to address them; strategic actions to boost identified priority sectors; a monitoring and evaluation framework; and financial resources mobilization plans.

Taking also the macroeconomic context into account, all these factors will feed into producing guidelines to support 30 countries with the development of their national AfCFTA (African Continental Free Trade Agreement) implementation strategies.

ATPC acknowledges that the AfCFTA could bring about some short-term adjustment costs such as lower tariffs revenues.

Furthermore, a range of cross cutting and very critical issues needs to be integrated into the national plans, including gender mainstreaming, the environment, climate change, and new technologies.

David Luke, Coordinator of the African Trade Policy Centre (ATPC) at the UN Economic Commission for Africa (UNECA) said, “Country strategies will not be developed from scratch. African countries have in place a number of well-grounded knowledge products and frameworks, national development plans, trade, industrialization and

export policies that will inform the AfCFTA strategies.”

The national implementation strategies, which will have regard for countries priority interests within the continental and global development agenda, are part of a wider project aiming at Deepening Africa’s Trade integration through Effective Implementation of the AfCFTA. Financially supported by the European Union, ECA has been working with its partners including the African Union Commission (AUC), International Trade Centre (ITC), United Nations Conference on Trade and Development (UNCTAD) and a selection of independent trade experts to identify the key elements to be considered in the AfCFTA implementation strategies, the support will initially be rolled out in 30countries.

There are six key components of the CFTA that are especially important to “get right”: (1) non-tariff barriers, (2) rules of origins, (3) investment and cross-border movement of persons, (4) services in general, (5) trade remedies, and (6) monitoring and evaluation.

To get non-tariff barriers (NTBs) right, a NTB mechanism should be included in the CFTA. Rather than duplicating the existing NTB mechanisms of the regional economic communities (RECs), the CFTA mechanism should build on their successes by expanding their operations across Africa to include trade between and within all RECs. In particular, the successful Tripartite NTB mechanism could be expanded to cover trade across the continent.

In order to facilitate the implementation of the free trade area-AfCFTA, several institutions that include Secretariat, Assembly of the AU Heads of State and Government, Council of Ministers responsible for trade, Committee of Senior Trade Officials, and Dispute Settlement Body, among others, will be created when the AfCFTA is put in place.

Actors Engaged The African Trade Policy Centre (ATPC)

strengthens the human and institutional capacities of African Governments to formulate and implement sound trade policies and participate more effectively in trade negotiations at the bilateral, regional and multilateral levels.

ATPC works with a range of other relevant stakeholders such as the private sector, civil society, and academia in research, training, information dissemination and advisory services to build consensus and achieve inclusive outcomes. The African Trade Policy Centre (ATPC) is based within the ECA Headquarters in Addis Ababa.

The UN Economic Commission for Africa (ECA) has noted that the African Continental Free Trade Area (AfCFTA) agreement

is one of Africa’s milestone trade policies that would serve as an impetus towards transforming Africa’s future development, and expected to change the way Africa does trade and catalyze transformation in a way trade policy has not done before.

Noting the vital significance of continental free trade agreement, ECA also urged its member countries to commit themselves through the inclusion of the major pillars of the agreement in their national policies, which the ECA stressed as “crucial for the successful implementation” of the AfCFTA. ECA’s statement quoted David Luke, African Trade Policy Center Coordinator

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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at the ECA as saying:“Africa is set for massive transformation as more countries are expected to sign-up and ratify the African Continental Free Trade Agreement (AfCFTA) in late 2019,” Luke, who recently led an ECA delegation to the Intra-African Trade Fair held in Cairo, Egypt, said “intra-African trade, free trade and investments catalyzed by the AfCFTA will without doubt transform the African continent. “Getting the AfCFTA right will depend on getting the level of ambition that we have as a continent,” he added.

As the regional body drives efforts toward realizing the AfCFTA, AU Commissioner for Trade and Industry Albert M. Muchangahas told Xinhua that major efforts are underway to achieve an integrated African market of about 1.2 billion people.

Senior officials of the African Union (AU) have been saying encouraging progress has been gained with the African Continental Free Trade Area (AfCFTA).

As the regional body drives efforts toward realizing the AfCFTA, AU Commissioner for Trade and Industry Albert M. Muchanga told Xinhua on Friday that major efforts are underway to achieve an integrated African market of more than 1.2 billion people.

A minimum of 22 ratifications are required for the AfCFTA to come into force.

With a single African market, the AU commissioner said, the continent will be able to better promote infrastructure development and investment in the manufacturing sector.

Currently, 42 percent of intra-African trade is made up of manufactured goods.

Stressing that industrialization and infrastructure are at the core of the AfCFTA, AU Director for Trade and Industry Treasure T. Maphanga told Xinhua that the AfCFTA also brings better opportunities to partners outside the continent.

“It is really a moment where, I think, a lot is possible. For us, the AfCFTA is a win-win. It is good for Africa; it is good for our partners,” she added.

The African Union (AU) Commissioner for Trade and Industry, Albert Muchanga on Sunday said he expected the African Continental Free Trade Area 06 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

(AfCFTA) to formally Niamey, capital of Niger in launch operations in July July.“We have 12 African this year. countries that have deposited the instrument of ratification Speaking during a press at the AU, before the end of conference on the sidelines the summit we expect two of the 32nd Ordinary more countries to ratify the Session of the Assembly agreement,” he added. of the AU in the Ethiopian “By March 21, 2019, the first capital, Addis Ababa, anniversary of the launch Muchanga said the formal of the AfCFTA, we expect start of operations of the we will fill the quota of 21 AfCFTA is expected to be member states needed for the launched during another free trade agreement to come AU summit to be held in into force,” said Muchanga,

‘‘

the first anniversary of the launch of the AfCFTA, we expect we will fill the quota of 21 member states needed for the free trade agreement to come into force,

”

adding that with the expected start of operations of AfCFTA in July, the AU expects member states to start to liberalize trade relations with each other, reduce trade tariff among African countries and come up with mechanism to monitor the application of non-tariff barriers by some member states.

Fundamentally, the AfCFTA is expected to generate significant economic opportunities.

Liberalizing trade between two or more countries generally has

positive welfare effects for those countries and leads to economic growth and poverty reduction.

Empirical analyses of the AfCFTA identify such gains: Mevel and Karingi estimate that intra-African trade will increase by 52.3 percent (US$34.6 billion), compared to a baseline scenario without aAfCFTA, by 2022;Chauvin et al. estimate large and positive longrun impacts, with the AfCFTA boosting Africa’s welfare by 2.64 percent by 2027.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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Addis Ababa:

To Undergo Face-Lift

By Staff Writer

T

he delivery and management of urban infrastructure is a critical and essential driver of economic growth for nations in both the developed and developing world. The provision of infrastructure is a major determinant of how cities can expand and also a key component toattract more investment.

On top of that citybeautification is important to all residents.With the intent of introducing beautification and monumental grandeur in cities, City Beautiful Movement was a reform philosophy in North American architecture and urban planning that flourished during the 1890s and 1900s.

promoted beauty not only for its own sakebutto create moral and civic virtue among urban populations.

Advocates of the philosophy believed that such beautification could promote a harmonious social order that would increase the quality of life. Keep America Beautiful which began in 1953, is well-known and the oldest organization to nationally promote environmental awareness and appreciation.

Nowadays, keep “America Beautiful”has affiliationin cities and states across thecountry such as Arizona and Denver.

The movement, which was originally associated mainly with Chicago, Cleveland, Detroit, and Washington, D.C.,

It is obvious that city beautification is not just

Urbanization must not just be about building new infrastructure but also about managing cities sustainably and make them better places to life. We must also remember that cities are not just vehicles to enable economic growth and to create wealth, they are also the home and workplace for millions of human beings across our planet and it is necessary to make them better places for residents.

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the responsibility of city government and various committees, but it is also the responsibility of each and every resident to play their part in making their environment better. In fact, if you had beauty that surrounded you each and every day, your stress levels would go down and your appreciation for things around you would increase. Besides, your attitude naturally becomes more positive, which in return makes more positive things happen.

It is a contagious entity which takes over and moves forward faster and faster as people get involved. The same

thing happens when areas become run down and neglected. People become depressed,unwilling to make changes, stressed, unhealthy, and breed depression and tiredness to a new level. This outcome has no positive effects and can affect an entire city. As a community we have to look at things as a whole and determine what we need to contribute toand enhance the wellbeing of dwellers.

In fact, beautification programs are designed to beautify streets, residential areas and highways and promote community pride. Environmental beautification such as planting flowers, trees and other decorative flora are also involved in the activities. Studies also showthat plants offer psychological and social benefits to people. They play a role in reducing stress and contribute to the well-being and health of the people.

Addis Ababa City Administration has recentlylaunched a dream-like projectthat would elevate the city to a

site of urban tourism, enhance the well-being of city dwellers and enable the country’s aspiration of nurturing a green economy through the expansion of green spaces and creating related service economies.This big project that costs 29 billion ETB will convert river banks of the city into public parks and green spaces.The renowned construction company, Varnero PLC is reported to implement the project in a period of three years.

While speaking at the launching ceremony, Takele Uma, Deputy Mayor of the city of Addis Ababa, said the project is meant for all Ethiopians and especially for the residents of Addis Ababa. The project which is initiated by the Ethiopian Prime Minister Abiy Ahmed (PhD), will run along

the two largest rivers of the city, stretching 23.8 and 27.5 kilometers, all the way from the mountains of Entoto through to Akaki River.

As Addis Ababa is the seat of African Union (AU) as well as various multilaterally and bilaterally accredited missions, delegations and institutions, the city is the diplomatic hub of Africa.

Accordingly, this project is extremely verysignificantto elevate the city to a site of urban tourism, to enhance the well-being of inhabitants and to enable the country’s aspiration of nurturing a green economy through the expansion of green spaces and creating related service economies.

Of course, the mayor vowed to “make Addis Ababa live up to its name.” and every of us are expected to contribute immenselyto the successful realization of this project.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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Photo by Daniel Getachew

All Women Flight to Oslo on

International Women Day Ethiopian Airlines has announced that it has finalized all preparations to once again celebrate International Women’s Day by operating an AllWomen Functioned Flight this time on Addis Ababa – Stockholm – Oslo route on March 08, 2019.

The all-women flight will have as a theme of “All women functioned flight to operate from the continent of African to meet with their counterparts in Europe to show the power of women to the world” The historical flight will be operated by Ethiopian Airlines women professionals from flight

deck all the way to the ground including airport operations, flight dispatch, load control, ramp operation, on-board logistics, safety and security, catering as well as air traffic control, which will be carried out entirely by women.

Group Chief Executive Officer of Ethiopian Airlines, Mr. Tewolde GebreMariam, remarked, “We are immensely honored that we have women trailblazers in every aspect of our aviation field.

Women are an integral part of our success story from the start and with this dedicated flight

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we honor and celebrate their indispensable contribution to our aviation Group and the broader aviation industry, our country and the continent at large.

Although women are Africa’s greatest resource, gender inequality still persists in our continent. Therefore, we all need to ensure that women take their right position in all human endeavour by creating the right conditions and through all-inclusive engagements models.”

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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TRADE WARS: THE PAIN AND THE GAIN

T

rade wars are topping the news agenda. But who’s feeling the pain and gain amid the protracted tensions? And what does the ongoing wrangling mean for developing countries?

A new study by UNCTAD looks at the repercussions of existing tariff hikes by the United States and China, and the effects of the increase scheduled for 1 March.

“Because of the size of their economies, the tariffs imposed by Unites States and China will inevitably have significant repercussions on international trade,” said Pamela Coke-Hamilton, who heads UNCTAD’s international trade division, as she launched the Key Statistics and Trends in Trade Policy 2018.

The study underlines that bilateral tariffs would do little to help protect domestic firms in their respective markets.

The study estimates that of the $250 billion in Chinese exports subject to US tariffs, about 82% will be captured by firms in other countries, about 12% will be retained by Chinese firms, and only about 6% captured by US firms.

Similarly, of the approximately $110 billion in US exports subject to China’s tariffs, about 85% will be captured by firms in other countries, US firms will retain less than 10%, while Chinese firms will capture only about 5%. The results are consistent across different sectors, from machinery to wood products, and furniture, communication equipment, chemicals to precision instruments.

The reason is simple: bilateral tariffs alter global competitiveness to the advantage of firms operating in countries not directly affected by them.

This will be reflected in import and export patterns around the globe.

Countries that are expected to benefit the most from US-China tensions are those which are more competitive and have the economic capacity to replace US and Chinese firms. The study indicates that European Union exports are those likely to increase the most, capturing about $70 billion of US-China bilateral trade ($50 billion of Chinese exports to the US, and $20 billion of US exports to China). Japan, Mexico and Canada will each capture more than $20 billion.

Although these figures do not represent a large slice of global trade 12 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

which was worth about $17 trillion in 2017 for many countries they make up a substantial share of exports.

For example, the approximately $27 billion of US-China trade that would be captured by Mexico represents a non-negligible share of Mexico’s total exports (about 6%).

Substantial effects relative to the size of their exports are also expected for Australia, Brazil, India, Philippines, Pakistan and Viet Nam, as shown below: However, the study also underscores that even for countries whose exports are set to increase because of the trade sparring, not all the results will be positive.

The soybean market is a case in point.

Chinese tariffs on US soybeans have resulted in trade distortionary effects to the advantage of several exporting countries, in particular Brazil, which suddenly became the main supplier of soybeans to China. But because the

image getting magnitude and duration of tariffs is unclear, Brazilian producers have been reluctant to make investment decisions that may turn out to be unprofitable if the tariffs are revoked.

Moreover, Brazilian firms operating in sectors using soybeans as inputs such as livestock feed are bound to lose competitiveness because of price rises stoked by Chinese demand for Brazilian soybeans.

The study also underlines that while some countries will see a surge in their exports, negative global effects are likely to dominate. A common concern is the unavoidable impact that trade disputes will have on the still fragile global economy. An economic downturn often accompanies disturbances in commodity prices, financial markets and currencies, all which will have important repercussions for developing countries. One

major concern is the risk that trade tensions could spiral into currency wars, making dollar-denominated debt more difficult to service.

Another worry is that more countries may join the fray and that protectionist policies could escalate to a global level. As protectionist policies generally hurt weaker countries the most, a wellfunctioning multilateral trading system able to defuse protectionist impulses and maintain market access for poorer countries is crucial.

Finally, in an interconnected global economy, the tit for tat moves of the trade giants are likely to have a domino effect beyond the countries and sectors targeted. Tariff increases penalize not only the assembler of a product, but also suppliers along the chain. For example, the

high volume of Chinese exports affected by US tariffs is likely to hit East Asian value chains the hardest, with UNCTAD estimating that they could contract by about $160 billion.

The ongoing trade tensions initially came to a head in early 2018 when China and the US imposed tariffs on about $50 billion of each other’s goods. The confrontation quickly escalated, and in September 2018 the US imposed 10% tariffs covering about $200 billion of Chinese imports, to which China retaliated by imposing tariffs on imports from the US worth an additional $60 billion. The 10% tariffs were initially due to rise to 25% in January 2019. However, in early December 2018 the parties agreed to freeze the tariff increase until 1 March 2019.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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Growth of global merchandise exports could reach 10.4 % in 2018

T

op goods exporters: transition economies (+24%) and Africa (+16%)

Global merchandise exports could grow by 10.4% this year, hitting almost $19.6 trillion, according to data published today in the 2018 UNCTAD Handbook of Statistics, which is marking its 50th anniversary.

The figures are the result of “now casts” based on merchandise and services trade trends which reconnect with substantial growth in 2017, when global merchandise trade increased by 10%, after two years of decline, and trade in services grew by 9.5%.

The Handbook underlines that factors contributing to the surge in the value of world trade in 2017 and 2018 are linked to an upswing of global GDP growth (3.1%), combined with increasing commodity prices (+17.7%), especially for fuels (+26.1%) and minerals, ores and metals (+12.2%), as shown by UNCTAD’s constantly-

updated free market commodity price index. It highlights the fact that trade imbalances between developed and developing economies have been decreasing over recent years.

This surge was also evident in the strong growth in maritime transport indicators compiled by UNCTAD: growth in world seaborne trade (the volumes of goods loaded and unloaded on the world’s sea

ports) was 4% in 2017, and container port throughput (the volume of containers handled on ports) climbed by 6% the same year.

A detailed analysis of recent trends estimated by the nowcast models shows that merchandise trade and trade in services grew robustly during the first half of 2018, although there were significant indications of a slowdown in the second half of the year. A global economic cooldown and adjusted expectations due to recent protectionist trade measures can explain this reverse trend.

For this publication, UNCTAD estimated now casting models for three variables: international merchandise trade,

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international trade in services and global GDP. This innovation responds to an increased demand for up-todate information to monitor global international trade, study the impact of economic or political developments, and guide policy responses.

“In an era of uncertainty, with swirling fears of trade wars, reliable statistical information is more indispensable than ever.

It is a critical tool for informing policies and recommendations that may commit countries for many years as they strive to integrate into the world economy and improve the living standards of their populations,” said Steve Mac Feely, UNCTAD’s chief statistician.

Issued yearly since 1968, the UNCTAD’s Handbook of Statistics provides an overview of a broad spectrum of statistics relevant to international trade and economic development.

Now produced in an entirely revised format, it provides a snapshot of the large amount of data publicly available on the UNCTAD stat portal (http://unctadstat.unctad.org).

The use of newscasts in the 2018 edition is a first in the Handbook’s 50-year history, In parallel to the printed document, UNCTAD is releasing the e-Handbook of Statistics 2018.

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Pricking thumbs:

Where is the

global economy heading ?

Structure of exports by group of economies and category In 2017, developing economies exported services worth US$1.6 trillion, while exports from developed economies were valued at US$3.6 trillion, and those from transition economies US$122 billion.

Travel remains the top category in developing economies’ services exports, amounting to US$521 billion in 2017 and capturing 40 per cent of the global market (US$1.3 trillion). Transport ranks second, with a value of US$317 billion in 2017.

Transport (US$42 billion) and travel (US$29 billion) are also the main categories of services exported by transition economies.

Developed economies lead world services trade in all categories.

Their services exports consist mainly of business services (US$1.2 trillion), followed by travel (US$760 billion) and transport (US$573 billion).

Global trends in 2017 The surge of world service exports in 2017 (see UNCTAD Handbook of Statistics 2018, chapter 2.1) was driven by all main service categories, though to different degrees. Transport showed the strongest increase: almost 9 per cent globally. This affirms the Ten years ago, in September 2008, Lehman Brothers declared bankruptcy. Suddenly, no one was quite sure who owed what to whom, who had risked too much and couldn’t pay back, or who would go down next; interbank credit markets froze; Wall Street panicked; businesses went under, not just in the United States but across the world; politicians struggled for responses; and economic pundits were left wondering whether the Great Moderation was turning in to another Great Depression. What is surprising, with hindsight, is the complacency in the run-up to the crisis. What is more surprising still is just how little has changed in its aftermath.

shadow banking has grown into a $160 trillion business, twice the size of the global economy; over-thecounter derivatives have surpassed the $500 trillion figure; and (little surprise) bonus pools for bankers are overflowing once again.

On the back of trillions of dollars of publicly generated liquidity (“quantitative easing”), asset markets have rebounded, companies are merging on a mega scale and buying The financial system, we are told, is back shares has become the measure simpler, safer and fairer. But banks of managerial acumen. By contrast, have grown even bigger on the back the real economy has spluttered along of public money; opaque financial through ephemeral bouts of optimism instruments are again de rigueur; and intermittent talk of downside risk.

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As inequality continues to rise and indebtedness mounts, with financial chicanery back in the economic driving seat and political systems drained of trust, what could possibly go wrong? At some point in the past year, the mood music around the global economy changed. The perception of synchronized upswings across many different economies, developed and developing, suggested a positive prognosis for future growth.

While some countries have turned to asset markets to boost incomes, others have looked to export markets but neither option has delivered growth on a sustained basis, and both have driven inequality even higher.

Arguably the greatest damage of all has been dwindling trust in the system. Here economists have no excuses, at least if they have bothered to read Adam Smith. In any system claiming to play by rules, perceptions of rigging are guaranteed eventually

image getting to undermine its legitimacy. The sense that those who caused the crisis not only got away with it but profited from it has been a lingering source of discontent since 2008; and that distrust has now infected the political institutions that tie citizens, communities and countries together, at the national, regional and international levels.

The paradox of twenty-first century globalization is that despite an endless stream of talk about its flexibility, efficiency and competitiveness advanced and developing economies are becoming increasingly brittle, sluggish and fractured.

Upbeat forecasts of economic recovery have led central bankers and macroeconomic policymakers in advanced economies to accept that the time has come to reverse the easy money policies in place for the past decade. The optimism hasn’t lasted very long. Recent growths estimates have been lower than forecast and show some deceleration. Euro zone growth in the first quarter of 2018 is estimated to have decelerated relative to the previous quarter, and is now the slowest rate since the third quarter of 2016; in the United States, the annualized gross domestic product (GDP) growth rate for the first quarter has been revised downward, from 2.3 per cent to 2.0 per cent, significantly lower than the previous three quarters; and growth in the first quarter in Japan turned negative.

Developing economies are holding out better, with first quarter growth for 2018 beating expectations in China and India, but no improvement and even deceleration in Brazil and South Africa.

The Russian Federation, like many other oil exporters, has seen the benefits of higher prices. Indeed, commodity exporting regions are generally enjoying the recovery in prices, albeit with some recent signs of a slowdown. Overall, regional

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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loose monetary policy (in the absence of countervailing fiscal policy) could abort the halting global recovery; but not doing so simply kicks the policy risks down the road while fuelling further uncertainty and instability.

image getting growth forecasts for this year are still on track. However, the number of countries appearing to be in some kind of financial stress has increased and forecasts for the medium term are being revised downwards.

Already, as the talk of monetary policy normalization grows louder, a number of developing countries are struggling to cope with capital flow reversals, currency depreciation and associated instability. The core concern is the continued strong dependence of tepid global growth on debt, in a context of shifting macroeconomic trends. By early 2018, global debt stocks had risen to nearly $250 trillion three times global income from $142 trillion a decade earlier. UNCTAD’s most recent estimate is that the ratio of global debt to GDP is now nearly one third higher than in 2008. Private debt has exploded, especially in emerging markets and developing countries, whose share of global debt stock increased from 7 per cent in 2007 to 26

per cent in 2017, while the ratio of credit to non-financial corporations to GDP in emerging market economies increased from 56 per cent in 2008 to 105 per cent in 2017.

Vulnerability is reflected in crossborder capital flows, which have not just become more volatile but turned negative for emerging and developing countries as a group since late 2014, with outflows especially large in the second quarter of 2018.

Clearly, markets turned unstable as soon as the central banks in advanced economies announced their intention to draw back on the monetary lever.

This leaves the global economy on a policy tightrope: reversing the past

18 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

What is more, the implications of monetary policy tightening, whether now or later, could be severe because of the various asset bubbles that have emerged, even as the chances of global contagion from problems in any one region or segment now seem greater than ever. The synchronized movement of equity markets across the globe is one indicator of this.

While property price movements in different countries have been less synchronized, they have also turned buoyant once again after some years of decline or stagnation after the Great Recession. The cheap liquidity made available in developed country markets led to overheating in asset markets in both advanced and developing economies, as investors engaged in various forms of carry trade.

The impact of TRADE AND DEVELOPMENT REPORT 2018: POWER, PLATFORMS AND THE FREE TRADE DELUSION IV the liquidity surge on equity markets has been marked, as valuations

“known unknowns”:

have touched levels not warranted by potential earnings. This has resulted in a fundamental disconnect between asset prices and real economic forces. With no support from fiscal policy, monetary measures failed to spur robust recovery of the real economy.

While asset prices have exploded to unsustainable levels, nominal wages increased by much less, and stagnated in many countries. This has led to further increases in income inequality, which implied that sluggish household demand could only be boosted through renewed debt bubbles. Meanwhile, debt expansion has not financed increased new investment. In advanced economies, the investment ratio dropped from 23 per cent on average in 2008 to 21 per cent in 2017. Even in emerging markets and developing countries, the ratio of investment to GDP was 32.3 per cent in 2017, only marginally higher than the 30.4 per cent achieved in the crisis year 2008, with some larger economies registering a drop over this period.

The policy dilemma is made more difficult by other “known unknowns”: uncertainties about the movement of oil prices that also reflect geopolitical dynamics, and the possible trajectories and implications of trade wars that could result from the current muscleflexing in the United States and its major trading partners. Trade picked up steam last year following several years of very sluggish growth and will likely continue to do so this year; but bets are off for what might happen beyond that. In the absence of strong global demand, trade is unlikely to act as an independent engine of global growth.

That said, a sharp escalation of tariffs and heightened talk of a trade war will only add to the underlying weakness in the global economy.

“

post-war liberal order

”

Because tariffs operate in the first place by redistributing income among several actors, gauging their impact is not as straightforward as some of the more apocalyptic trade pundits are predicting. Still, they will almost certainly not have the desired effect of reducing the current account deficit in the United States; will raise uncertainty if titfor-tat responses ensue; and will cause significant collateral damage for some developing countries, adding to the pressures already building from financial instability.

This is not, however, the start of the unraveling of the “post-war liberal order”. That order has been eroded over the past 30 years by the rise of footloose capital, the abandonment of full employment policies, the steady decline of income going to lab our, the erosion of social spending and the intertwining of corporate and political power.

Trade wars are a symptom of an unbalanced hyper globalized world. Nor is the rise of emerging economies the source of problems.

China’s determination to assert its right to development has been greeted with a sense of anxiety, if not hostility, in many Western capitals, despite it adopting policies that have been part of the standard economic playbook used in these same countries as they climbed the development ladder. Indeed, China’s success is exactly what those who gathered in Havana back in 1947 to design an International Trade Organization wanted and sought to encourage.

The difference in discourse between then and now speaks to how far the current multilateral order has moved from its original intent.

Source UNCTAD

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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Running Hyundai

By Staff Writer

I

t is obvious that the public and private sectors should work hand in hand in an effort to ensure sustainable economic development in the country.

It is promising that it is now broadly accepted that the private sector has a critical role to play in achieving the overall economic growth and improving living standards.

investment has been steadily growing in Ethiopia. The Government itself has been investing heavily on improving the country’s infrastructure like roads, power, telecom and the likes to further enhance the enabling environment for investment.

In fact, Ethiopia’s economy has been the fastest growing economies in the world Foreign direct investment for the last decade and (FDI) and domestic the country relatively has

untapped investment opportunity in Eastern Africa especially in the manufacturing sector including the automotive industry.

It is known that Ethiopia’s automotive market is dominated by second-hand imported vehicles from Dubai and Europe. Studies have shown that commercial vehicles were Ethiopia’s second most valuable import overall in 2015, worth US$875 million. On the other hand, commercial vehicles were also Ethiopia’s highest earning automotive export in 2015.Automotive importing companies in Ethiopia are importing different types of vehicles to the country’s vehicle market.

Ethiopia’s automotive industry, in no doubt, is one of the contributors to the national economy. The country has a huge potential and opportunity for automotive assembly and component manufacturing. The development of automotive industry in general and the transport sector in particular has been positively influenced by the recent favorable economic developments.

20 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

image getting Built recently in Addis Ababa Nifas Silk Lafto Sub-City, Tulu Dimtu area,Hyundai Marathon Motor vehicle assembly is erected with a total cost of around half a billion birr ( close to $18 million); the coming of famous companies like Hyundai Motor is an indicator of the trust investors are having on the economy of the nation.

Hyundai Marathon Motor vehicle assembly plant, which is the company’s first assembly plant in East Africa, has the capacity to assemble 10,000 cars in eight different models annually and will create employment opportunities for 1,000 jobs while goes fully operational.

athlete and former Olympianturned businessman who has partnered with the South Korean firm said that some of the cars to be assembled will be exported to other countries.

During the inaugural ceremony of the assembly plant, Haile Gebrselassie, the renowned world

Ethiopia,in recent years, has maintained high economic growth and made commendable

Hyundai Chief Executive Won Hee Lee, on his part, said that the Korean firm was drawn

by Ethiopia’s growth; one of Africa’s fastest for more than a decade. “We have good opportunities in Ethiopia. We believe the economic growth in Ethiopia will be faster than any other country in middle Africa,” he said during the inauguration ceremony.

progress in considerably reducing poverty and improving living standards of its people. In this regard, the country’s calling for the involvement of the private sector in various economic activities, fuelling engine of growth and developmentacross the country.

Currently there are several car assemblies in Ethiopia, including the Chinese Lifan, Peugeot of France and the German Volkswagen, which is on the pipeline. And yet the number of such plants is believed to be insufficient as compared to the availability of the market and the cozy investment potential and opportunity in the country.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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22 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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Investment and Immigration in Ethiopia By: Yonas Mulatu Investment and Immigration in Ethiopia Ethiopia has been one of the fastest growing economies in the world for the last ten years. The economic growth was matched by growing foreign direct investment (FDI) into the country. Growth in FDI has also meant increasing number of expatriates residing in Ethiopia. In this piece, we will discuss the immigration rules and regulations governing foreign residence in Ethiopia.

The two basic laws that govern immigration matters in Ethiopia are: The Immigration Proclamation No. 354/2004 (“Proclamation”) and the Council of Ministers Immigration Regulation No. 114/2004. The Main Department for Immigration and Nationality Affairs (“Office”) is the key regulatory body that implements these laws. The Office has enacted directives and circulars that further govern the immigration of foreign nationals.

One of the basic requirements for a foreigner to enter into Ethiopia is a valid Visa, with the exception of Kenya and Djibouti, that have a special agreement with Ethiopia. There are different types of visas such as Tourist Visa, Business Visa, Diplomatic Visas etc. All investors seeking to do business in Ethiopia must enter the country with a valid Business Visa.

As part of facilitating Foreign Investment and offering one stop shop services, the Ethiopian Investment Commission (EIC) provides visa services by liaising with the Office. The key documents that must be presented to the EIC for business visa applications are: a)

Passport Scan/Copy of the applicant, b) Residence Permit if the visitor is living/working in a country other than the origin of the passport, c) Travel Information (Arrival and departure date and airlines), d) Brief company profile and purpose of visit description.

Once the above documents are fulfilled, the Office will issue a Business Visain two ways, depending on the country where the Investor is from.

1. Visa at Ethiopian Embassy: For those countries with Ethiopian Embassy, the office will directly send the letter to the Embassy where the investor will receive their Visa. At the same time the EIC will forward to the visitor the received slip. The investors can then go with passport and slip in hand and process the visa at the Ethiopian Embassy/Consulate.

The office has also launched an e-VISA site where by gusts can apply for a Visa online. The requirements and fees are all mentioned in the site. A Tourist, Investment, Conference and other types of Visas can be obtained from the e-VISA site.

A Business Visa can be given for thirty days or ninety days and a single entry or multiple entry depending on the request presented to the Immigration Office.There is a possibility to get an extension of a Business Visa up to two times. However, if the investors intends to work in Ethiopia for a longer period, he/she must obtain a work permit from the Ministry of Labor and Social Affairs. A person holding a work permit will be granted with a Residence Permit from the Office later on.

An entry visa may be denied or cancelled if the applicant: a. has no visible means of support or is likely to become a public burden, b. is found to be a notorious criminal, c. has been declared to be a drug addict, d. has been suspected of suffering from a dangerous contagious disease, e. has been found to be a threat to the security of Ethiopia, f. has furnished fraudulent information, g. has violated the provisions of the Immigration Proclamation or Regulation.

2.

Visa on Arrival: Whereas for those countries that do not have Ethiopian Embassy, a Business Visa on arrival will be requested and provided for the investors. The EIC will request for a letter from the Immigration office. This letter will be shared with the investor and is to be presented at the Airport You can reach MTA through alongside the passport for Visa. A www.mtalawoffice.comand info@ fee of 50 - 75 USD will be required mtalawoffice.com for the Visa.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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Africa’s Travel & Tourism

Top 2018

Highlights

Credit: Josephine Wawira

Africa’s

travel and tourism industry continued to record impressive growth in the past year. The continent hit a 63 million high in international tourist arrivals in 2017, as compared to 58 M in 2016 (+ 9% vs 2016); according to a Hospitality Report published in December 2018. The growth record is slightly above the global performance of a 7% rise in 2017, to reach a total of 1.323 billion international tourist arrivals. Here are some of the tourism highlights for the just concluded year, 2018.

1. International tourist arrivals

2. Economic contribution

As compared to her counterparts, Africa’s share of international tourist arrivals was only 5%.

Europe boasted the lion’s share with 51%, followed by Asia and the Pacific which recorded 24%.

The Americas and the Middle East had 16% and 4% respectively.

The African economy has been gaining momentum, with the real output growth expected to reach 4.1% by 2018/2019. Travel and tourism contribution to Africa’s GDP was expected to reach 12% (a 3.7% rise) in 2018; from a total of 8.1% (USD 177.6 billon) in 2017.

Results were driven by the continued recovery in Tunisia & Morocco and strong performance in Kenya, Côte d’Ivoire, Mauritius and Zimbabwe. Island destinations Seychelles, Cabo Verde and Reunion recorded double-digit growth in arrivals.

The industry is also a major employer in the continent, expected to support 23 million jobs (3.1% increase) in 2018. The sector supported 22 million jobs in 2017, approximately 6.5% of total employment. These include jobs directly & indirectly supported by the tourism industry.

24 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

3. Expenditures Considered one of the most important economic activities in Africa, travel and tourism generated USD 37 billion in international visitor expenditure in 2017.Domestic travel recorded a high of 60% in local spending as compared to 40% in international spending.

This was attributed to among other factors affordability and ease of travel within the continent, as people’s movement gradually became a basic need for most of the middle class with a higher spending power and who create and shape the future generation entrepreneurs.

Other factors also included the mushrooming of low cost airlines, upward growth of bed capacity in main cities, and flourishing of the shared economy. This is not to mention the creation of visa upon arrival, e-visa and visa-free travel for African citizens; as well as the use of the AU e-Passport. The Africans now do not require a visa to travel to 25% of other African countries and

can get visas on arrival in 24% of other African countries. However, there remains a dominant 51% of African countries which need Africans to have visas to travel.

Moreover, 70% of tourism expenditure was recorded from leisure tourists, as leisure travel remained dominant in 2018. Business expenditure on the other hand recorded the other 30%.

4. Rise of international hotel brands

”

AFRICA

I

n 2018, there was a reported pipeline activity of 76,322 rooms in 418 hotels (with over 100 brands across Africa). Of these, 47,679 rooms in 298 hotels were in Sub Saharan Africa, while North Africa recorded 28,643 rooms in 120 hotels.

Sub Saharan breakdown placed West

Africa at the top of pipeline activity at 48%, followed by East Africa at 29%, South Africa at 19% and Central Africa at 4% respectively.

5.

T

Africa’s air passenger traffic

here exist enormous opportunities for the continent’s airlines to grow, with Africa having recorded only 2.2% of the world’s total air passenger traffic. With growing economies, a burgeoning middle class and a youthful population, IATA forecasts Africa to be the fastest growing air transport passenger market at 4.9% per year to 2037. With this growth,

passenger traffic will increase by an additional 197 million over the next 20 years, bringing total passenger traffic to 321 million by 2037.

According to IATA’s Special Envoy to Africa on Aero political Affairs, Raphael Kuuchi, the sustainable growth of African airlines traffic lies in removing the bottlenecks; to effective connectivity, lowering industry operating cost and developing commercial cooperation among airlines.

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Growth of African Tourism as industry remains resilient Credit: Josephine Wawira

T

he festive season in Africa also marks the highest season in the tourism industry, as demand for getaway destinations in the continent surges. According to a Hospitality Report Africa- 2018/19,IATA’s most popular airline destinations in Africa in terms of traffic are Ethiopia ,South Africa, Egypt, Morocco, Algeria, Nigeria, Tunisia, Kenya, Mauritius and Tanzania respectively.These being just among other African countries favorited by tourists not only during Christmas seasons but also throughout the year; for their exotic and relaxing nature. Magnificent sceneries, wild and untouched nature for remarkable safaris and inestimable coastlines, Africa is indeed a favorable tourism destination. In the report

by Jumia Travel, the United Nations World Tourism Organization (UNWTO) Secretary General Mr. ZurabPololikashvili, shares his insights on the growth of African tourism.

ABN: How is the African tourism sector performing and which are the driving factors?

ZurabPololikashvili (ZP) : International tourist arrivals in Africa are estimated to 26 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

have increased by 8%. Results were driven by the continued recovery in North Africa and the solid growth in most destinations that reported data. Tunisia continued to rebound strongly in 2017 with a 23% growth in arrivals, while Morocco also enjoyed better results after weaker demand in the previous year. Growing demand from European source markets and a more stable environment contributed to the positive results. In Sub Saharan Africa, strong performance continued in large destinations including Kenya, Côte d’Ivoire, Mauritius and Zimbabwe. South Africa reported slower growth in arrivals though a strong increase in expenditure. Island destinations Seychelles, Cabo Verde and Reunion Island; all reported double-digit growth in arrivals, benefiting from increased air connectivity.

The driving factors The Africa agenda 2063 remained a strong driving factor to the growth of the industry; Issuance of the AU e-Passport and creation of visa upon arrival, e-visa and visa-free travel for African citizens in line with the concept of unrestricted movement of persons, goods and services across the countries. Others include; infrastructure development aiming at unlocking intra-regional economic exchange and establishing regional value chains for increased competitiveness, as well as political good will and

Africa Agenda is a road map towards the maximization of Africa’s tourism potential. We are putting emphasis on travel and Tourism as a driver of jobs growth and economic recovery, provision of technical support to governments and affiliate private sector organizations for the development and promotion of sustainable tourism at the destinations. UNWTO is also providing Risk and Crisis Management courses in conflict prone zones as well as helping in the establishment of brand and image of African campaigns.

ABN : What role is the rising Middle Class playing in boosting Africa’s domestic tourism, as a contribution towards achieving the middle-income status?

mainstreaming of national agenda and implementation of tourism transformation policies.

ZurabPololikashvili(ZP):People’s movement is no longer a luxury set aside for the few with high per capita income but a basic need for the ever-increasing majority of the middle class who create and shape the future generation entrepreneurs. A growing middle class is a sign of a robust economy. The existence of domestic tourists who have more money to spend at their disposal and thus willing to travel more, has led to the mushrooming of low cost airlines, upward growth of bed capacity in main cities, flourishing of the so called shared economy etc.

ABN: What are the greatest challenges facing the growth and expansion of the tourism sector in Africa?

ZurabPololikashvili(ZP):Among challenges hindering the growth of the sector are travel advisories by international tourist sources and Political instability at some. Inadequate air travel between the major African cities due to poor intra-African air connectivity and lack of strategic marketing of brand Africa are also among top issues. We are also dealing with negative perception of brand identity and image of the continent. Africa is not a country but a continent, home to more than a billion very creative, entrepreneurial and tech savvy Africans. It is however viewed as the only home to a fascinating wildlife and torn apart by war, poverty and diseases. Last but not least, underdeveloped tourism infrastructure, visa restrictions and lack of a common visa policy, and lack of access to adequate funding and underfunding at the ministerial level.

In response to these challenges, the UNWTO is aligning and developing national tourism strategies and policies in line with national agenda. The 10-point UNWTO

United Nations World Tourism Organization (UNWTO)

Secretary General Mr. ZurabPololikashvili

Traditionally, tourism was seen as a thing for the foreigners, but this myth has been demystified by the fact that travel and leisure is not the sole domain of foreigners but also, for the locals to have a real-life experience of the richness and diversity of their countries which translates positively into the national economy.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

The Hotel Industry: Untapped People travel. They move for many personal and international purposes of circumstantial natures.

With the development of airlines, especially budget airlines, more people from all walks of life can afford to travel As moving, they use money to buy and sell properties, construct roads and buildings. They buy or build new and best hospitality service deliveries, of which the hotel industry takes the lion’s share.

Aklile Tsige looks into the development of the sector both at global and domestic levels.

Global Appearance

F

or as long as we have had civilization, we’ve had hotels, though the earliest iterations of the hotel were a little different than they are today. In early biblical times, wandering travelers often took up lodging in the homes of local townsfolk. Though they were inns with several rooms (as evidenced in the Bible), most guest facilities were simply homes that “rented” out their stables to passersby.

History has it that around the year 1200, more permanent hotels were built. The earliest examples of these were the I’AubergeCour Saint Georges in Ghent, Belgium and the Angel Inn in Lincolnshire, England. Others began to crop up at this time to serve travelers making holy pilgrimages throughout Europe and elsewhere. They were simple structures, but laid the groundwork for the model of hotel-asbusiness that would persist into later centuries.

The hotel industry as we know it today really got its start at the beginning of the 15th century when French law required that hotel managers keep a register. English law quickly followed suit, and more than 500 inns began to turn up in the two countries.

Hotels became larger and often included a courtyard, which the bed rooms faced, as well as a kitchen and stables in the back for horses. Hotels began to advertise their services with signage, and in the 16th century, the first guidebooks began to appear detailing the “Best of S” in regards to hotel cleanliness and cuisine.

28 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

The first truly modern hotel was the Le Grand Hotel Paris, which opened in Paris in 1862. The hotel was a stunning monolith, designed to highlight the success, beauty, and grandeur of France’s Second Empire.

The high arches of the hotel’s exterior were inspired by the nearby Opera House and the hotel included dozens of tracks of indoor lighting, which were powered by 4,000 gas jets. By 1890, the hotel was completely lit by electricity.

Other famous hotels of this period included the Sagamore Hotel in Lake George in New York, the Palmer House Hotel in Chicago, and the Palaise de Wurtenberg in Vienna, and I’Hotel Hermitage in Monte Carlo. In the 20th century, capital cities around the world began to mimic the grandeur styling of Paris, Vienna, New York, and Chicago, and soon there were high-class luxury hotels all over the globe.

image getting Today, the bar for the hoteliers is set very high. It becomes increasingly more difficult to please the guests. Those often exaggerated expectations lead to the creation of new hotel types. Modern hotels are bigger, more technologically advanced and more extravagant.

detection devices and advanced electronics.

The only logical next step is the Artificial Intelligence (AI). Although it’ll probably never completely take over, it’ll be a major part of the future hotels. One thing we are sure of is that the future of the industry Speaking of the future of the hotel truly is bright. industry, various professionals in the field unanimously agree with the existence of automatization in the industry. This time around, we can already see robots as receptionists and cleaning “staff”. They can Ethiopians are famous for their give us new towels, bring us food good hospitality; they are polite, and greet us at the entrance. The considerate, punctual, deliberately hotel rooms themselves are also empathic, apologetic, affectionately technically advanced, with voice smiling,

HOTEL IN ETHIOPIA

minding their manners, beautiful and emotionally intelligent to bring multiple perspectives together.

The very first Ethiopian hotel to provide guests a place to rest and dine appeared in the Ethiopian Empress imagination and beautifully materialized in 1907-Itegue Taitu Hotel.

Ethiopian imperial royal family was well known for entertaining their guests in a most lavish and Ethiopian way with delicious Ethiopian traditional cuisines and meal at their still standing palace in Addis Ababa. So, they had to build this still operational old hotel, which is worth a visit as it still captivates the aura of the past in spite of the fact it’s tastefully renovated.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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HOTEL IN ETHIOPIA The main building in particular would be an interesting one to visit in and out even to dine and wine. The restaurant is gracefully embellished with colorful paintings in which for most of them the main theme revolves around the historic founders of this place-Emperor Menelik II and Empress Taitu. The corridor is also adorned by magnificent furniture and museum pieces of paintings on the wall which makes it all worth paying a visit to one of Addis Ababa’s very own historic old buildings.

Anyone looking for past, pleasant atmosphere, prominent old building, art and history in the African capital, ItegueTaitu Hotel is the place to be.

Another ancient hotel located at the hills of Mekele is the Abreha Castle, which dates back to the 19th century.

Built in 1906 by Abreha Araya who

was the ruler at that time, the hotel has got eight luxurious rooms that offer unforgettable experience.

Hilton is another fabulous 12-storey establishment of Ethiopia which opened its door over five decades ago. It was opened in 1969 by Emperor Haile Selassie. Together with the exquisite garden wing extension, the complex embraces a total of 402 rooms.

Blending traditional Ethiopian cultures with contemporary style, Hilton Addis Ababa was designed to mirror the famous Lalibela cross.

Its geothermal out-doors swimming pool, spa, tennis court, and an 18hole golf course makes it uniquely Ethiopian hotel.

Comfortable hotels play a vital role in attracting tourists. After the fall

of the communist government some 28 years ago, Ethiopia started privatizing most of its state-owned hotels and tourism establishments. To support this move, the government adopted a policy that allows duty-free imports of hotel furniture, fixtures and equipment.

As a result of such support and cozy investment climate, the hotel industry in Ethiopia is developing in an incredible pace. Many star hotels have been built in the capital Addis Ababa and regional states. The third diplomatic city following Brussels and Washington, Addis Ababa currently has over 12 internationally branded hotels, making tourist stay in a more pleasant and relaxed mood.

According to the Federal Ministry of Culture and Tourism, as the number of tourists visiting the country is growing annually, the development of the hotel industry remains unquestionably mandatory to respond the growing number of tourist influx.

image getting 30 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

Many argue thatright after the Ethiopian Millennium celebrations, the construction revolution in the country hascontributedto boomingconstruction of various

getting image types of hotel across different parts of the nation. Franchising and branding of worldwide renowned hotels has begun to enter the country’s hotel industry; this is also followed by rating and ranking the standard of hotels.

Accordingly, there’re eight 5-star hotels in Addis Ababa: Capital Hotel& Spa Addis Ababa, Golden Tulip Addis Ababa Hotel, Marriott Executive Apartment AA, Sheraton Addis, Elilly International Hotel AA, Hilton AAH, Hyatt Regency,

Radisson Blue Hotel, Addis Ababa and the recently inaugurated Skylight Hotel.

Thirty-three four-star hotels, thirty three-star hotels and six two-star hotels have also been rated while many others have been on pipeline to finalize the rating process.

But, while the hotel industry is growing, the number of available hotel rooms is still the lowest; many professionals in the sector have been heard

commenting that there are also few hotels of an international standard, and some are old and unattractive.

There has also been continuous call for involvement of private investors in the industry mainly in major tourist destinations across the country; these sites really demand quality and world class hotels that are likely to make tourists stay longer time than they intend to. Still unexplored, untold, and untapped, the hotel industry in Ethiopia is calling.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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አመለ ሸጋው

መሱድ መሃመድ

በተሾመ ፋንታሁን ተወልዶ ያደገው አዲስ አበባ ቄራ አካባቢ ነው፡፡ አልማዝዬ ሜዳ ተጫውቶ ካደገ በኋላ የመብራት ኃይልን ታዳጊ ቡድን ተቀላቀለ፡፡ ፕሮፌሽናል እግር ኳስን የጀመረው በመብራት ኃይል እሁን እንጂ አብዛኛውን የእግር ኳስ ዘመኑን ያሳለፈው ግን በኢትዮጵያ ቡና ውስጥ ነው፡፡ የቀድሞው የኢትዮጵያ ቡና አምበል ጫማውን በኢትዮጵያ ቡና ሰቅላል ተብሎ ሲጠበቅ ሳይታሰብ የጅማ አባጅፋርን ክለብ ተቀላቀለ፡፡ አመለ ሸጋው፣ ያሁኑ የጅማ ጅፋር አምበል የኢትዮጵያ ቡና ምልክት መሱድ መሃመድ ከABN የስፖርት አዘጋጅ ተሾመ ፋንታሁን ጋር ቆይታ አድርጓል፤ መልካም ንባብ ፡፡ ዘንድሮ በሁለቱም አህጉራዊ ውድድሮች፡ በሻምፒዮንስ ሊግም በኮንፌዴሬሽን ዋንጫም ተሳታፊ ነበራችሁ፤ ከአዲሱ ክለብህ ጋር አህጉራዊ ጉዟችሁ ምን ይመስል ነበር ? ጅማ አባጅፋር ለአህጉራዊ ውድድር አዲስ ነው፡፡ ክለቡ እንደ አዲስነቱ መጥፎ የውድድር ጊዜ አሳልፏል ብዬ አላስብም፡፡ በቡድንም ይሁን በተናጠል ሁላችንም ጥሩ ልምድና ትምህርት አግኝተንበታል፡፡ እኔ በግሌ ለውድድሮቹ አዲስ አይደለሁም፤ ከቡና ጋር ከአልአህሊ ጋር ተጫውቻለው፡፡ እኔም ብቻ ሳልሆን ሌሎች የሻምፒዮንስ ሊግና የኮንፌዴሬሽን ጨዋታ ያደረጉ ልጆች በክለባችን አሉ፡፡ ነገር ግን የሻምፒዮንስ ሊግም ሆነ የኮንፌዴሬሽን ውድድሮች የየሃገሩን ሻምፒዮን ቡድኖች የሚያሳትፉ ውድድሮች እንደመሆናቸው ደረጃቸው ከፍ ያለ ደረጃቸው ከፍ ያለ ውድድሮች ናቸው፡፡ እናም ሁሌም ቢሆን አዲስና ከባድ ውድድሮች ናቸው፡፡ ሁሉም ቡድን እያደገ፣ እየተሻሻለ የሚመጣባቸው ውድድሮች ስለሆኑ ጨዋታዎቹ ሁሌም ከባድ ናቸው፡፡ ያደግከው ከኢትዮጵያ ኤሌክትሪክ ታዳጊ ቡድን ነው፤ ከዛም ኢጥዮጵያ ቡና ገባህ፡፡ ረዥሙን የጨዋታ ጊዜህን ያሳለፍከው ኢትዮጵያ ቡና ነው፡፡ በኢትዮጵያ ቡና ጫማ ትሰቅላለህ ተብለህ ስትጠበቅ ወደጅማ አባጅፋር አቀናህ፡፡ ከኢትዮጵያ ቡና የተለየ ማሊያ በተለይ ደግሞ የክልል ክለብ የተለየ ስሜት አለው? እኔ እንዳልከው ብዙውን ጊዜዬን ያሳለፍኩት በቡና ገበያ ነው፡፡አንድ ክለብ ውስጥ ብዙ መቆየት አንተንም እንድትረጋጋ ያደርግሃል በቡድኑም ተጫዋቾች መሃል የባለቤትነትን መንፈስ ይፈጥራል፡፡ ቡና ውስጥ እየነበርኩ ከአሰልጣኞች፣ ከደጋፊው ባጠቃላይ ከክለቡ ቤተሰቦች የተማርኩት ይሄን ነው፡፡ ከአዲስ አበባ መውጣት በተለይ እንደኔ አዲስ ቤተሰብ ለመሰረተ ሰው በጣም ከባድ ነው፡፡ ለቅድመ-ውድድር ወይም ለጨዋታ የተወሰኑ ቀናትን ነበር የምወጣው ክለብ ቀይሬ ሙሉ ኑሮዬን ጅማ ሳደርግ ቤተሰቦቼ፣ ህጻናት ልጆቼ፣ ባለቤቴ ሁላችንም ነን የተቸገርነው፡፡ በተለይ መጀመሪያ ላይ በጣም ነበር የከበደኝ አሁን ግን እየለመድኩት ነው፡፡ መሱድ የቡና ምልክት ነው፡፡ 3 ቁጥር ቡናና መሱድ ጥብቅ ቁርኝት ነበራቸው፡፡ ቡናን ስትለቅ የተለየ ስሜት ተሰማህ? እስከመጨረሻው ደቂቃ ድረስ እንደምወጣ አላውቅም ነበር፡፡ ከክለቡ ውጭ የሆኑ ቀድመው የሰሙ ሰዎች ደውለው ሲነግሩኝ አላመንኩም ነበር፡፡ የ2010 ዓ.ም. የውድድር ወቅት ማጠናቀቂያ የመዝጊያ በዓል ሲደረግ አብዛኞቹ ውላቸው ያለቀ ልጆች አልተገኙም ነበር፤ እኔ ግን ተገኝቻለው፡፡ ተገኝቼም ግን አልሰማውም ነበር፡፡ ቡና ለኔ ቤቴ ነው፡፡ ረዥም ጊዜ ነው የቆየሁት፡፡ ስለዚህ የሆነው ሁሉ ይሆናል ብዬ አላሰብኩም ነበር፡፡ ቀድሜ ባውቅ፣ ብሰማ ደስ ይለኝ ነበር፡፡ ከሰማው በኋላ ግን በጣም ባዝንም መጫወት ስላለብኝ የሌሎችን ክለቦች ጥሪ ማስተዋል ጀመርኩ፡፡ የጅማ ጥያቄ ይበልጥ ሳበኝ፣ ተነጋገርን፣ ተስማማን ፈረምኩ ማለት ነው፡፡ 32 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

image getting Abyssinia Business Nework መጋቢት 2011 / MAR 2019

አሰልጣኙ በተደጋጋሚ ላንተ ያላቸውን ክብር ከመግለጽ ባሻገር አብረሃቸው እንድትሰራ ጠይቀውህ እንደነበረ ይገልጻሉ ቡና ውስጥ ቆይተህ ረዳ አሰልጣኝ እንድትሆን ጠይቀውህ ነበር? ዲዲዬ ጎሜስ በውድድሩ አጋማሽ አካባቢ በስልጠና ወቅት የመጪው ዓመት ዕቅዳቸው ውስጥ እንዳለው ነግረውኝ ነበር፡፡ እኔም ከሳቸው ጋር መስራት ደስ እንደሚለኝ ነግሬያቸው ነበር፡፡ ከተወሰነ ጊዜ በኋላ ደግሞ ሃሳባቸውን ቀይረው ረዳት አሰልጣኝ እንድሆን ጠየቁኝ ከባድ ውሳኔ ስለነበር ዝም አልኳቸው፡፡ በርግጥም ከባድ ውሳኔ ነበር፡፡ ከዛ ከኔ ምንም ዓይነት መልስ ባልተሰማበት ሁኔታ ነው ክለቡ ከኔ ጋር ለመለያየት የወሰነው፡፡ አሰልጣኑ ሲነግሩኝ ወዲያው ይቀበለናል ብለው ያሰቡ ይመስለኛል፡፡ ከዛ ድጋሚም አላወራንም በዛ ሁኔታ ክለቡ ውሌ እንደማይታደስ አሳወቀኝ፡፡ ኢትዮጵያ ቡና አንተን ጨምሮ በዛ ያሉ ነባር ተጫዋቾችችን ነው የለቀቀው፡፡ ቡድኑ ዓመቱ መጀመሪያ ላይ ደህና ቢመስልም እየቆየ ግን በሜዳው ሳይቀር በተደጋጋሚ የሚሸነፍ ቡድን ሆነ፣ የዘንድሮው የኢትዮጵያ ቡና ችግር ምን ይመስልሃል? እኔ እንደማስበው ሽግግሩ ልክ አልነበረም፡፡ በአንድ ጊዜ አዲስ ቡድን ነው ለመገንባት የተሞከረው፡፡ በርግጥ ቡና ቤት የተጫዋቾች አንድ ላይ መውጣት የተለመደ ነው፡፡ ነገር ግን ያሁኑን ልዩ የሚያደርገው ሙሉ ለሙሉ ቡድኑ ነው የተለወጠው፡፡ የተወሰኑ ነባር ተጫዋቾችን ትይዛለህ ከአዳዲሶቹ ጋር በማቀናጀት የቡድኑን መንፈስ ለማቆየት ትሞክራለህ ይህ ቢሆን በጣም ጥሩ ነበር፡፡ አሁን የተፈጠረው ነገር ታዳጊዎቹ ጥሩ ናቸው ነገር ግን አንድ ጨዋታ ሲሸነፉ የዓለም መጨረሻ ነው የሚመስላቸው፡፡ እኛም ታዳጊ ሆነን ተጫውተናል እናውቀዋለን፡፡ ዛሬ ብትሸነፍ ነገ እንደምታሸንፍ ታውቀዋለህ፡፡ ይህንን የምትማረው ከአሰልጣኝ አይደለም ከዕድሜ ነው፡፡ ነባር ተጫዋቾች ቢኖሩ ይህን ለልጆቹ እያስረዱልህ ብትሸነፍ እንኳን ለቀጣይ ጨዋታ እየተዘጋጀህ ውጤትን መቀየር ትችላለህ፡፡ ብዙ ሰው ግን የዘንድሮ ችግር የመሱድ መሃመድ መውጣት ነው ቡድኑ መሪ ነው ያጣው ይላሉ፡፡ አንተ በዚህ ትስማማለህ? እኔ ብቻ ሳልሆን ሁሉም ነባር ተጫዋቾች ቡድኑን በራሳቸው መንገድ ሲጠቅሙ ነበር፡፡ እግር ኳስ የቡድን ውድድር ነው የምታሸንፈውም የምትሸነፈውም በቡድን ነው፡፡ በተለይ እንደዚህ ዓይነት ተከታታይ ሽንፈት በሚመጣበት ጊዜ መረዳዳት አለብህ፡፡ እንደዚህ ዓይነት አስቸጋሪ ጊዜያትን ለመሻገር ልምድ ያስፈልግሃል፡፡ ይህን የምትረዳው በቆይታ ነው፡፡ በቡድኑ ውስጥ የተፈጠረው ነገር ይሄ ይመስለኛል፡ ፡ ልጆቹ ተረጋግተው በሁለተኛው ዙር የተሻለ ነገር ይሰራሉ የሚል እምነት አለኝ፡፡ አሰልጣኙም ቢሆን መሱድን መልቀቅ እንዳልነበረባቸው አምነዋል? እኔ እንደዕድል ሆኖ አምበል ከሆንኩበት ጊዜ ጀምሮ ልጆቹ ያከብሩኛል፣ ይሰሙኛል፡፡ በተለይ አምና ደግሞ ብዙ አዳዲስና ታዳጊ ልጆች ስለነበሩ 34 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

በቡድኑ ውስጥ መከባበር ነበር፡፡ ልጆቹ ስለሚሰሙኝ እንደትልቅ ተጫዋችም እንደታላቅ ወንድምም ያከብሩኝና ይሰሙኝ ነበር፡፡ እኔም ይሄን ተሰሚነት በመጠቀም በአሰልጣኙና በተጫዋቾች መካከል ድልድይ ሆኜ የበኩሌን ለማድረግ እሞክር ነበር ምናልባት ለዚህ ሊሆን ይችላሉ፡፡ የዘንድሮው የውድድር ዓመት የመጀመሪያ ዙር ተጠናቋል፡፡ በተለይ እናንተ ሁለት አህጉራዊ ውድድሮች ላይ ተሳታፊ ነበራችሁ፡፡ አንተ የመጀመሪያውን ዙር እንዴት ትገመግመዋለህ? የውጭ ቸዋታዎችን ጨምሮ ብዙ ጨዋታዎችን አድርገናል በጣም አድካሚ ጉዞዎችን አድርገናል፡፡ በተለይ የሞሮኮው ጉዞ በጣም አድካሚ ነበር፡፡ ከግብጽና ከሞሮኮ ክለቦች ጋር ያደረግናቸው ጨዋታዎች ጉልበት የሚጨርሱ ከባድ ጨዋታዎች ነበሩ፤ በአዕምሮም በጉልበትም ብዙ የተፈትንባቸው ጨዋታዎች ነበሩ፡፡ መጨረሻው አካባቢም ብዙ ቀሪ ጨዋታዎች ስለነበሩብን ተደጋጋሚ ጨዋታዎችን አድርገናል፡፡ በጣም ደክሞን ነበር፡፡ አሁን እረፍቱ በተለይ ለኛ በጣም ጠቃሚ ነው፡፡ በሚገባ አርፈን ጉልበት ሰብስበን እንመለሳለን፡፡ አሰልጣኙ አሁን ተባረዋል መሰናበታቸውን ስትሰማ ምን ተሰማህ? አዝኛለው ማንኛውም የቡና ስሜት እንዳለው ሰው አዝኛለው አሰልጣኙ በጣም ጎበዝ አሰልጣኝ ናቸው መጀመሪያ እንደሰማው ማመን አቅቶኝ ነበር ይሄን ለሳቸውም ቢሆን በጽሁም መልዕክት ገልጬላቸዋለው፡፡ እራሳቸው መርጠው ያዘጋጁት ቡድን ስለሆነ በዚህ ፍጥነት እነደዚህ ዓይነት ተከታታይ ሽንፈት ይገጥመዋል ብዬ አልገመትኩም ነበር፡፡ እንደሰውም አብሯቸው እንደሰራ ተጫዋችም በጣም ነው ያዘንኩት እንደአሰልጣኝ ምን ዓይነት አሰልጣኝ ነበሩ? እኔ እንደመጡ ለሚዲያም ገልጬ ነበር በጣም ጎበዝ አሰልጣኝ ናቸው ቢሚዲያ ብቻ የምናውቃቸውን የእግር ኳስ ቃላት፣ ፍልስፍናዎችና ታክቲኮች ለኛ በቅርብ ያስተማሩን ባለሙያ ናቸው፡፡ ሁሉም አብሯቸው የሰራ በክለቡ ያሉትም የወጡትም ሁሉ የሚመሰክሩት ነው፡፡ ስልጠናቸው በጣም ጥሩ ነው፡፡ ዲዲዬ ጎሜስ ለኔ ምርጥ አሰልጣኝ ናቸው፡፡ ጅማ አባጅፋር ዘንድሮ ብዙ በአህጉራዊ ጉዞዎች ላይ ከመጓጓዣ ትኬት፣ ከተጫዋች ደሞዝ ጋር በተያያዘ ብዙ ችግር እንሰማለን በአህጉራዊ ጉዟችሁ አንዱ ችግር የክለቡ አስተዳደር ችግር እንደሆነ ይነገራል ምንድን ነው ያለው ችግር?

ቡድኑ እንደምታውቀው አዲስ ቡድን ነው፡፡ ከብሄራዊ ሊግ እነደመጣ ሳይታሰብ ሻምፒዮን ሆነ፤ ከዛም በሻምፒዮንስ ሊግ ተሳታፊ ሆነ፡፡ ስኬቶቹ ክለቡን ላልታሰቡ ተጫማሪ ወጪዎች ዳርገውታል፡፡ አፍረካዊ ውድድር ላይ ተሳታፊ መሆኑ ጥሩ ጥሩ ተጫዋቾችን እንዲያመጣ አስገደደው አዲስ የገቡት ተጫዋቾች የክለቡን የደሞዝ ወጪ ከፍ አደረገው፡፡ ጅማ ደግሞ እንደ አዲስ አበባ፣ ጎንደር፣ ባህር ዳር ወዘተ ትልልቅ ግብር ከፋይ ተቋማት ያሏት ከተማ አይደለችም፡፡ የክለቡ ወጪ ሳይታሰበ ነው ያደገው፡፡ የትራንስፖርት ወጪው ያልተጠበቀ ነው፣ ሞሮኮ ሩቅ ነው ወጪውም ብዙ ነው ይህንን ቀድመው ልታስብ አትችልም ዕጣ ነው፡፡ ስለዚህ ሻምፒዮን መሆኑ በአፍሪካ ውድድር ተሳታፊ መሆኑ ድንገት የሆኑ ስለሆኑ ክለቡን ለተጨማሪ ወጪ ዳርገውታል፡፡ የክለቡ አስተዳደር ቀን ከሌት ሰርተው አስተካክለውታል ይሄን የምነግርህ በየቀኑ ስለማያቸው ነው በጣም ጠንካራ አስተዳደር ነው ያለው ስለዚህም ነው ወዲያው ማስተካከል የተቻለው፡፡ ስለቤተሰብህ ንገረን እስቲ ? ባለትዳርና የሁለት ልጆች አባት ነኝ፡፡ ሃይመንና ኢያድ የሚባሉ ሁለት ልጆች አሉኝ፡፡ አሁን ከናታቸው ጋር ናቸው፡፡ ባለቤቴ ብቻዋን ነው የምትንከባከባቸው፡፡ አዲስ ቤተሰብ እንደመሆኑ ከቤተሰብ ተለይቼ መኖር በጣም ከባድ ነው፡፡ በተለይ እኔ ደግሞ ሁሉንም ነገር አውጥቼ የመናገር ተፈጥሮ ስለሌለኝ በጣም ነበር ያስቸገረኝ ልጆቼ በጣም ይናፍቁኝ ነበር፡፡ ብቻዬን የማለቅስበት ጊዜ ሁሉ ነበር፡ ፡ በተለይ ትልቁ በጣም ያስቸግር ነበር አባቴ ለምን አይመጣም ይላል ሥራ ላይ ለው አይመስለውም፡፡ በጣም አስቸጋሪ ስድስት ወራትን ነው ያሳለፍኩት፡፡ ወደፊት ምን እያሰብክ ነው ምናልባት አሰልጣኝ የመሆን ሃሳብ፣ ዝግጅት አለ? አሁን ሙሉ በሙሉ ትኩረቴ መጫወቱ ላይ ነው፡፡ ጨዋታ ካቆምኩ በኋላ ግን አላውቅም አሰልጣኝነት በመሰረቱ በጣም ከባድ ሙያ ነው ብዙ መማር ማንበብ ይጠይቃል ስለዚህ መጀመሪያ መማርን ማንበብን አስቀድማለው አስፈላጊውን ዕውቀት ከሰበሰብኩ በኋላ ግን ብቁ ነኝ ብዬ ሳምን አሰልጣኝ ልሆን እችላለው በመጨረሻ ማስተላለፍ የምትፈልገው መልዕክት ካለ ቤተሰቦቼ ተረድተውኝ ሁሌም ከጎኔ ስለሆኑ አመሰግናለው፣ በኤሌክትሪክ፣ በቡና በነበርኩበት ጊዜ ያሰለጠኑኝን አሰልጣኞች ሁሉንም አመሰግናለው፣ የቡና ደጋፊዎችን አመሰግናለው፣ አሁንም በጅማ ደጋፊዎች ለኔ ያላቸው ክብር ምስጋና ያስፈልገዋል፣ የጅማን አሰልጣኞች፣ አመራሮች የክለብ ጓደኞቼን ሁሉንም አመሰግናለው፣ አቢሲኒያንም፣ አንተንም ለግብዣው አመሰግናለው፡፡ Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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LUKWESA MORIN LUKWESA MORIN MAKES HISTORY AS THE FIRST MISS AFRICAN UNION QUEEN 2018-19

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istory was made in a big way in Washington, DC as the first ever Miss African Union-Diaspora was elected on American soil! The winner, 26 year old Lukwesa Morin is a student at John Hopkins School of public policy who was born in Togo of a Zambian mother and a French father. As she accepted her crown with humility from King Peggy VI, the Miss African Union, Lukwesa said that she wants to fight illiteracy and child malnutrition, among other challenges facing Africa. On her way to the crown, Lukwesa

competed with contestants from 16 other countries including Uganda and Guinea, winning first and second runners up respectively.

Each contestant competed in areas ranging from education and healthcare to social justice, before taking questions from the Jury related to African history.

Lukwesa Morin is the first ever Miss African Union Queen 2018-2019.

She received a Masters in Public Policy and Public Administration from the prestigious Johns Hopkins University and has a Bachelor’s Degree in Environmental

36 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

Image Miss African Union Pagean

Science from Gettysburg College.

Having worked as an environmental consultant for the World Bank and United Nations World Flood Program, she led a mission project to Lesotho with the goal of developing a disaster risk management framework. She aspires to continue her work efforts in multiple countries and her platform will focus on the alleviation of hunger and illiteracy rates in African countries. She will also work directly with youth and serve as an exemplary role model encouraging them to participate in the development of Africa and use their voices to effect change.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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Digitizing healthcare record

By Legesse Nega

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espite growing use of electronic health records, the healthcare industry is nowhere close to realizing the full benefits of the digitized record. While most providers acknowledge the benefits and vision for the future, the growing pains created by varying standards and the challenges of data exchange due to different electronic formats remain a hurdle.

EHRs deliver advantages to healthcare providers and patients by enabling better collection, storage and sharing of health information for the purpose of coordinated care delivery. Electronic data storage and retrieval reduces the risk of lost patient records and test results and offers more secure access over their paper predecessors, which easily could be left on a desk and viewed by anyone walking by.

Another benefit of electronic health record technology is that it supports greater accuracy in records, as healthcare providers are prompted to complete required data fields, use standard terminology and check predefined boxes.

One specific benefit of electronic health record technology is the speed in which Physicians can gain access to critical test results and progress notes, eliminating delays in treatment caused by missing data. Finally, electronic health records support enhanced patient safety by collecting more complete data and providing secure access throughout the care process.

On the other hand, electronic health records are not without their own challenges. One of the biggest and perhaps most visible risks of electronic health records is data security. These negative impactsmostly occurred throughcyberattacks. This causes a huge risk to a patient care 38 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

data safety and other personal smartphone or toa computer. information being exposed to They can also track their unauthorized individuals. doctor appointments and other types of records.

While data is potentially more secure inside the health care system, the ability to share data To unlock this benefit of the to those who need it beyond EHR, healthcare decision the care providersmay risk making bodies such as of unintended information ministry of healthshould exchange on a mass scale. consider a flexible and Therefore, health systems need scalable platform that allows a comprehensive approach to to manage and integrate data security that includes all complex health data across the different stake holders aspects of their operations. such as providers, hospitals government and Enabling data integration into a (both single electronic medical record private) and of course the or single view, EHRs make customers(patients) in some data accessible for the right way or shape. I believe the person at the right time in the entire EHR management care delivery process. For the approach need to establish greater population sake, health a whole range of rules and systems more than ever need regulation to manage it. to understand and utilize the comprehensive set of data that As they put it once, “healthcare data spill could the EHR can provide. be more damaging than They understand the benefits what BP did to the Gulf of of using the collective data Mexico”, healthcare data in electronic health records is the most sensitive data to analyze specific patient and cannot be circumvent populations, distinguish risk protecting it at all cost. The factors, identify trends in end goal should be to improve disease treatment and predict patient care and outcomes future outcomes, all of which through better health and improve patient care, outcomes disease management. With a population more than 100 and the cost of care. million, Ethiopia needs to Many hospitals and health care gear up and adopt EHR in a service providers in Ethiopia are near future once governing still using paper-based approach rules and regulation are in to handle medical records of place. their patients.Neighboring Kenya, Nigeria and South [The writer is currently Africa are somehow started to serving as Managing integrate their health care data Director at Lucy through EHR solutions.Those Technologies plc, and can be platforms allow their patients reached via E-mail :Legesse. to take their health records teffera@lucytechnology.com] with them anywhere on a

Photo by Daniel Getachew

OIB: A DECADE JOURNEY

By Aklile Tsige

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stablished on October 25, 2008 with an initial capital of 110 million birr, the Oromia International Bank (OIB) Share Company began operation at its former headquarters located insideDembel City Center Building alongside Bole Road.

Holding commercial business objectives, OIB is undertaking a universal commercial banking services such as deposit mobilization, lending of money, remittance service, and international banking services and interest free banking service.

The Bank has now launched electronic banking outputs such as Card banking known as OroCard (ATM&POS), Mobile

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Banking named Oro-Cash, Agent Banking-Oro Agent and Internet banking namely Oro-Click.

Stretching its wings to all corners of the country, Oromia International Bank (OIB) has opened over 225 branches which are all connected by core banking system.

OIB is staffed with over 3000 employees, and currently owns a-13-storey building Headquarters in the nation’s capital Addis Ababa, Bole Road next to Getu Commercial Center.

As part of its corporate social responsibility, the Bank has extended various donations and support to different sections of

the society. It has recently donated 400 quintals of grain flour to citizens who have been displaced from BenshangulGumuz Regional State.

Encouraging and recognizing its clients, the Oromia International Bank (OIB) also acknowledged those individuals and companies who have been engaged in export and depositors on January 31st 2019.

In its 10-year-journey, the Bank has been registering magnificent results, and has become one of the most influential and popular banks in Ethiopia with an annual gross profit of 938 million birr in 2018, which makes it the 4th bank in the country in terms of profitability in the specified period alone.

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

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40 Abyssinia Business Nework መጋቢት 2011 / MAR 2019

Abyssinia Business Nework መጋቢት 2011 / MAR 2019

Abyssinia Business Nework መጋቢት 2011 / MAR 2019