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2nd YEAR NO 15 የካቲት 2011 FEB 2019

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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.

ABN delivers the depth and breadth of business information to the businesses community.

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.

The magazine has been playing a crucial role in providing valuable information to our customers like the existing investment opportunities and business environment which is very significant to make investment decision and become lucrative in business.

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CONTENTS

Ethiopian Inaugurates

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receives only 5%

Trends and geography of world

Eagle Hills Eyes Ethiopia

Engaging the diaspora

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Ethiopian Inaugurates Airport Terminal Expansion and New Hotel

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thiopian Airlines Group, the largest aviation group in Africa, inaugurated astateof-the-art passenger terminal and its Skylight Hotel on 27 January 2019. FDRE Prime Minister H.E. Dr. Abiy Ahmed; African Union Chairperson H.E. Moussa Faki; Group CEO Tewolde GebreMariam; Ministers; high-level government officials; Ethiopian Airlines Board members; Executive Management Members; and invited guests attended the opening event.

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About Ethiopian Skylight Hotel The hotel is adjacent to Bole International Airport of Addis Ababa. It’s situated on about 40,000 square metres and backed by a USD 65 million investment. It was built by AVIC Engineering Corporation as EPC contractor, with 373 guest rooms, three restaurants (inclusive of the biggest Chinese restaurant in Ethiopia at 900m2, and a 900m2 traditional Ethiopian restaurant), and three lounge bars. The Grand Ballroom is designed to host 2,000 guests at once, making it the largest ballroom in Ethiopia. The hotel offers five function rooms of varying capacity, fitness centre, and outdoor heated swimming pool, mini golf driving range, a 600m2 exhibition centre, boutique shop as well as ticket office and other amenities.

The owner of the hotel project is Ethiopian Airlines, the largest, fastest growing and most profitable airline company in Africa, enjoying considerable clout and renowned internationally.

“W

hile Addis Ababa Airport took over Dubai as the largest air transport hub between Africa and the rest of the world, this grand terminal building is further evidence of the development of Bole Airport as one of the largest and most convenient global aviation hubs,” said Tewolde GebreMariam, CEO of Ethiopian Airlines Group. “Ethiopian Skylight Hotel will enable the airline to offer packaged tour and travel programs. Moreover, the hotel will enable Ethiopian Airlines to attract around a third of tourists out of the 6 million passengers transiting through Bole Airport to visit Ethiopia.

”

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The $363m second terminal at Addis Ababa Bole International more than doubles the airport’s capacity to 22 million annual passengers, making it one of the biggest in Africa. Ethiopian’s CEO said he would like to see that eventually grow to 100 million.

The terminal has more international gates and new lounges, shops and restaurants. It also has self-service options at check-in, bag-drop and boarding.

Airport expansion saw 16,000 sqm added to terminal 1 alongside the 86,000 sqm of terminal 2. A 6,000 sqm VIP terminal is currently being built.

Construction was funded by a Chinese firm.

China has been investing in projects across the continent, from railways and roads to factories and oil refineries, as part of its Belt and Road Initiative.

Group CEO for Ethiopian Airlines Tewolde GebreMariam said, “While Addis Ababa Airport took over Dubai as the largest air transport hub between Africa and the rest of the world, this grand terminal building is further evidence of the development of Bole Airport as one of the largest and most convenient global aviation hubs”.

“What we learn from today’s inauguration of the new passenger terminal is that we have a lot of work ahead of us. We expect the Board and the Management not to be complacent with the new terminal, but rather to aim for a bigger facility with a capacity to accommodate at least 100 million passengers.”

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Industrial Parks: Key for Economic Transformation

By: Mekonnen Hailu (EIC Public Relations Director)

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stablished in 2014, the Ethiopian Industry Parks Development Corporation (IDPC) is becoming an engine of rapid industrialization that nurture manufacturing industries, to accelerate economic transformation, promote and attract both domestic and foreign investors.

In a couple of weeks’ time, Ethiopia has inaugurated theJimma and Dire Dawa industrial parks that are designated for textile and apparel as well as agroprocessing sectorswhile a number of industrial parks are under construction in different parts of the country.

Industrial parks development is a very significant sector in Ethiopia’s effort to transform its economy and alleviating the daunting problems of unemployment. Industrial parks development has huge impact on speeding up the growth of national economy and on fulfilling its aspiration to become a leading industrial hub in Africa.

Industrial parks development will have immense contribution to job creation for the ever-growing youths of the country, especially to those who are graduating every year from various higher educational institutions across the country.

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As industrial parks have a convenient environment with access to all necessary infrastructure including power, telecom, water, road and other facilities, they play decisive role in attracting foreign direct investment to the country.

For instance, in Hawassa IP almost all services including banking, insurance, immigration, customs, shipping and logistics are provided to the tenants in the one-stop shop service (OSS).

disposal.

Hawassa Industrial Parkthat rests on 1.4 million square meters has already attracted 19 international and one local company that are engaged in the textile and apparel industry.

Producers operating in this park include PVH Corp, Wuxi Jinmao Co. Ltd, TAL Apparel, Raymond, and CK while other local investors are in the process of recruitment to work in the park.

Furthermore, the parks have additional area allocated for shared facilities and implement Zero Liquid Discharge (ZLD),fulfilling international standards and enablingthem to recycle 85 percent of sewerage

These domestic companies havinga chance of working in the Park will have huge opportunities to learn from the international companies engaged in

the textile industries. The 19 leading textile and garment companies are from Europe, America, China, India and Sri Lanka.

At present the industries within the park have created more than 23.000 jobs, but when the park goes fully operational it is expected to create 60,000 jobs in double shift and will generate estimated revenueof one billion USD from the textiles and garment.

As an Eco-Park, Hawassa IP is mostly powered by renewable electricity sources and the design and construction is conceived around energy and water conservation principles – including maximization of natural lightning and natural ventilation, fitting of low consumption bulbs, recycling of rain water, and solar powered LED street lights - making it Ethiopia’s first major eco-friendly development.

Ethiopia also planned to have more industry parks in the coming years

and this will boost the manufacturing sector’s share in Ethiopia’s Growth Domestic Product (GDP) that stood at only 5 percent for many years.

If the country is to meet its economic promise and realize the much-needed economic transformation, it should work hard on developing industrial parks.

Ethiopia, with a young labor force of 50 million people, has a huge potential in the manufacturing sector. As annual manufacturing growth currently is 25 percent, in 10 years’ time, it’s projected to increase its GDP share by four fold and it’s share in exports to 50 percent.

As Ethiopia wants tobecome a hub for light manufacturing industries, it has planned to

build additional industry parks in the next two years. Offering competitive labor, improving power supply and transport infrastructure, Ethiopia has made admirable strides to attract low-end manufacturing businesses seeking new factory locations as wages soar in China.

It is important to note that investors are attracted because the country benefits from African Growth and Opportunity Act (AGOA) and Everything but Arms (EBA) allowing duty-free exports to the U.S and EU markets respectively.

Ethiopia wants to shift away from farming and agriculture and sees manufacturing as a vital sector to create jobs and maintain high growth. Thus, the country has planned to increase the number of its industrial parks as part of its effort to boost the manufacturing and the export sectors. የካቲት 2011 / FEB 2019

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Haile Hotels and Resorts, is a privately owned and situated in various part of Ethiopia. It was established in 2010, by opening Haile Resort in Hawassa. Since then, the company has increased its destinations to six, by opening Haile resort Ziway, Haile Hotel Shashemene, Yaya Africa Athletics Village, Haile Resort Arbaminch and Haile Resort Gondar.

Companies Vision is To be a benchmark indigenous hospitality chain developer and operator in East Africa based on ‘‘ይቻላል” ( It’s Possible) spirit by the year 2025.

Haile resort-Hawassa Haile resort-Arbaminch

Arba Minch is the home of two Ethiopia’s largest Rift Valley lakes, beautiful landscape (God’s Bridge), forty (40) springs Nechisar National Park, crocodile ranches, crocodiles market and the highland of Dorze village on its doorstep.

The city is also the as a gateway to the Omo valley and Konso on the Southern circuit. It is one of the best destinations in Ethiopia.

Haile resort Hawassa is a four star luxurious, well-furnished and stylish resort. The 52,000 SQM sub-tropical beauty, with a 1000sqm lake view offers the perfect setting of the resort.

Resort has 126 guest rooms that are presented in timelessly elegant and wellappointed manner The resort has 8(eight) food and drink serving outlets serving both international and local cuisines and Drinks.

Our Five meeting rooms can accommodate 25-2000 persons at a time with different setup for all occasions. The Ball rooms are fully equipped with sound system and fast internet Connection.

In addition we provide boat trip to hippo watching, fish market and other nearby attractions.

Our health club facilities include spa (steam bath, dry sauna, and massage) and gymnasium services for our esteemed guests.

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Haile-Arba Minch is a 107 room four-star resort located at a grand view overlooking the twin lakes of Abaya and Chamo along the beautiful evergreen vegetation and chain of mountains that form the most beautiful pattern.

Haile- Arba Minch is an all inclusive concept that provides five star services to its guests.

Our new resort features food and beverage outlets on view points; complete health club and wellness center, conference and wedding venue, outdoor activities with kids play ground and several other facilities.

Haile resortHaile resort-Arbaminch

Arbaminch Yaya Africa Athletics village

Haile resort Ziway

Haile resort Ziway is found 165KM south from the capital city, Addis Ababa. It’s a sanctuary of serenity and peacefulness.

The resort settled on a beautiful lake Ziway, shaded by indigenous trees and calm atmosphere.

Our guest rooms have been specifically designed to provide paramount comfort for our esteemed guests. We have 52 Well Furnished guest rooms with 8 room types including standard single room, twin room, suit and family Room types.

The resort’s wide garden area helps you to refresh and relax your mind. Our leisure facilities include football filled, basketball filed, volley ball filled, swimming pool, table tennis, children play ground and boat trip to nearby attractions.

Our health club facilities include gymnasium, Dry sauna, Steam bath, and massage therapy by professional staffs.

Our multipurpose halls are designed to accommodate 30-300 persons

with different set ups for several occasions. The ball rooms are equipped with full sound system and high speed WIFI internet connection.

Haile Resort Gondar Gondar located at 725(748)km from Addis Ababa, 175km from Bahir Dar and 120km from the Simien Mountains at an elevation of 2133 masl.

Gondar is a land of medieval mystery center of an important trading empire and the city holds the remains of several royal castles, including those in Fasil Ghebbi (the Royal Enclosure), for which Gondar has been called the “Camelot of Africa” that makes it one of the UNESCO registered site and an ideal touristic destination that connects almost all of the Historic Routes.

The resort offers 66 fullyequipped guest rooms with an extended view of historical city. The room preference extends from the suite rooms with ample sitting area, to standard rooms, Twin rooms, and Family rooms.

Restaurant, Bar & LoungeTewodros restaurant, Mintewab restaurant, Terrace, Pool Bar, VIP restaurant, Lobby Bar & Zegoral lounge:

Multi Purpose halls (M&E Facilities) The Venue occupancy is based on standard set up,. Tailored /modified set-ups can be arranged to accommodate the guests’ request.

Yaya Africa Athletics village Is first in its kind to provide allinclusive sports villages. it’s offering an exemplary level of service. We are Located 11 km from the capital city, on the way to the north at an attitude of 2700m above sea level.

When Yaya established in 2010, the purpose was to provide a well-found sports village for professional athlete’s world widely.

In the long run, it expanded its services to host not only athletes but tourist and travelers.

The village comprises well-furnished 40 guest bedrooms supplied with full room amenities.

Additionally, the hotel offers Olympic standard running track with Professional guides, football filled, volleyball field, ground tennis field, swimming pool, horseback riding and different indoor games.

Our distinctively designed, modern and traditional cottage restaurants are on a position to serve you from starter to the dessert with multiple food choices both local and international dishes.

Yaya village health club facilities include state of the art gymnasium with an amazing garden view. The spa includes a steam bath, dry sauna, and massage therapy will help you to relax every minute of your time. የካቲት 2011 / FEB 2019

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Trends and geography of world seaborne trade By staff writer

International

seaborne trade gathered momentum in 2017, with volumes expanding by 4.0 per cent. This was the fastest growth in the last five years.

In 2017, 10.7 billion tons of goods were loaded worldwide; 1.5 billion tons more than in 2012. Loading of dry cargo alone increased by 1.2 billion tons; crude oil, petroleum products and gas contributed the remaining 305 million tons to the overall increase.

Asia was by far the largest trading region.

In 2017, 4.4 billion tons of goods were loaded, and 6.5 billion tons unloaded, in Asian seaports. The other continents registered less than half of these amounts.

The volumes of goods delivered to ports in Oceania were, at less than 200 million tons, particularly small.

Contribution of developing economies

per cent in 2017. This trend has been driven strongly by developing economies in Asia. In developing economies of Asia and Oceania, about one quarter more goods were unloaded in 2017 than in 2012.

Developments in seaborne trade balances In2014, developing economies turned from net exporters into net importers of seaborne trade volumes.

By 2017, they developed a deficit of 400 million tons, as compared to a surplus of 190 million tons in 2012.

These figures, however, hide considerable differences across continents. Unlike developing economies in Asia and Oceania, and consistent with past trends, developing economies in America and Africa continued running significant surpluses in 2017.

Transition economies have almost doubled their surplus over the last ten years, reaching 599 million tons in 2017. In developed economies, the deficit of 1.4 billion tons in 2007 almost vanished by 2017.

Global trends and patterns

Developing economies continue to make a major contribution to global seaborne trade.

They account for almost two thirds of goods loaded and unloaded worldwide.

Their share in seaborne trade imports, as measured by goods unloaded, has steadily In 2017, world merchandise increased over the last ten years, to reach 63 trade returned to substantial 12

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growth, after two years of decline.

Exports amounted to US$17.7 trillion, increasing by 10 per cent from 2016.

In 2018, exports are nowcast to reach a record high of US$19.6 trillion.

Most economies in the world contributed to the surge in international merchandise trade, except for SwitzerlandLiechtenstein, Luxembourg, Jordan, the Democratic People’s Republic of Korea and some African and smallisland economies.

Among the main exporting economies, particularly strong increases were recorded for 2017 in the Republic of Korea (15.8 per cent) and the Netherlands (14.1 per cent). The world’s top-four exporters, China, the United States of America, Germany and Japan, all experienced growth rates between 6 and 9 per cent.

Different exposure to the upswing in trade Transition economies recorded a particularly vigorous increase in exports (24 per cent) and imports (21 per cent). In the developing economies of Africa and America, the upswing in world trade manifested itself mainly on the export side; African exports (16 per cent) increased at double the rate of imports. By contrast, in the developing economies of Asia and Oceania, imports increased faster than exports.

In developed economies, exports and imports rose comparatively

moderately, each by around 9 per goods, while fuels accounted for extra-trade deficit. This deficit was the cent. one half. equivalent of one quarter of total exports in 2017 despite positive balances in Development of global Upswing in trade trade of primary commodities except trade imbalances throughout food. a whole range of products The monetary value of the goods Extra-trade from developing which developing and transition With exports increasing by economies in Asia and Oceania show economies export to the world 31 per cent between 2016 a slight surplus in 2017, accounting for is greater than the value of the and 2017, fuels led the global 9 per cent of exports, mainly because goods they import. For developed recovery in merchandise trade exports of manufactured goods exceed economies the opposite is the case. (see UNCTAD Handbook of imports .

Nevertheless, from 2015 to 2017, Statistics 2018, chapter the average annual surplus for 1.1). However, ample growth developing economies of US$355 was recorded also for all other billion was already US$127 billion main product groups. less than during the preceding three Exports of agricultural raw years. Meanwhile, the annual deficit materials rose by 13 per cent; for developed economies reduced exports of food, ores, metals, from US$742 billion to US$680 precious stones, non-monetary billion. All in all, North-South trade gold and manufactured goods has become more balanced. increased at rates of around 9 per cent.

Regional specialization patterns In 2017, the highest concentration of product exports was recorded by the Economies specialize their exports main petroleum exporting economies by different groups of products. For in Africa and Central and Western Asia many developed and developing as well as for several economies with economies in Southern and Eastern strong reliance on the extraction of Asia, manufactured goods represent minerals, such as Botswana, Zambia the most exported product group. and Mali. The exports of developed Many transition economies and economies and of developing developing economies in Western economies in Eastern and SouthAsia and North and Central Africa Eastern Asia were more diversified. rely mainly on fuels. Food is strongly represented in the exports of some How did the prices of exports economies in South America and and imports develop?

Eastern Africa; and ores, metals, An analysis of extra-trade precious stones and non-monetary by product group shows that gold in the exports of several developing economies in Africa For transition economies, landlocked Southern and Western African and and America import much higher developing countries (LLDCs) and Central Asian economies. values of manufactured goods LDCs in Africa and Haiti, the relative from the rest of the world than price of exports to imports increased by For developing economies in 2017, they export. In America this around 10 per cent in 2017, after four manufactured goods accounted for is offset by a positive balance to five years of decline. By contrast, 70 per cent of total exports almost in trade for food and for ores, for Asian LDCs and for developing as much as in developed economies. metals, precious stones and economies as a whole, the terms of In transition economies, only one non-monetary gold. In Africa, trade remained almost unchanged. quarter of exports were manufactured however, it caused an overall How concentrated is global

How concentrated was the structure of exports?

What do developing economies trade with others?

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product supply?

Of the different product groups, the supply of manufactured goods is the most unequally distributed among economies of the world.

This is indicated by a market concentration index of 0.19 in 2017, compared with index values of between 0.12 and 0.15 for exports of food, agricultural raw materials, ores, metals, precious stones, non-monetary gold and fuels. It is noteworthy that the market concentration of manufactured goods exports fell over the last two years, after a continuous increase from 2004 to 2015.

How important is trade for economies?

Over the last ten years, in developing and transition economies, international trade in goods has significantly lost importance in relation to domestic production. Developing economies in Asia and Oceania showed a particularly strong decline in the ratio of exports and imports to gross domestic product (GDP), indicated by a fall in the trade openness index from 35 to 25 per cent between 2007 and 2017.

Nevertheless, in 2017 their exposure to trade was still high compared with other groups of developing economies and with transition and developed economies.

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World services trade rising again After a strong increase of 7.8 per cent in 2017, even higher growth of world services exports, of 9.5 per cent, is nowcast for 2018.

In 2017, global services trade reached US$5.4 trillion, one third of the value of merchandise exports. It was a year of recovery, after two years of relatively slack trade between 2014 to 2016.

Services exports mainly come from developed economies. These supply over two thirds of services traded internationally. However, several Asian developing economies have established themselves as important exporters (see below).

The upturn in services exports in 2017 was a worldwide trend. Only a few economies, such as the Republic of Korea, Norway and some countries in Africa and the Caribbean, recorded negative growth rates.

Highest growth in Africa and in transition economies Looking at the breakdown by development status, particularly high growth was recorded in transition economies (exports: 13.8 per cent, imports: 14.6 per cent) and African developing economies (exports: 13.7 per cent, imports: 10.4 per cent).

In other words, growth was particularly high for groups with a relatively low base in services trade. In the developing economies of America and of Asia and Oceania, as well as in developed economies, services exports and imports expanded at more modest rates, between 6 and 8 per cent.

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

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sector’s revival, related directly, as usual, to notable pick-up in international merchandise trade (see UNCTAD Handbook of Statistics 2018, ) Strong growth was recorded also for travel, intellectual property and other business services, as well as telecommunications, computer and information services. Exports in these service categories increased at rates of around 7 and 8 per cent. Insurance, pension and financial services as well as personal, cultural and recreational services recorded smaller, yet sizeable growth, with rates near 4 per cent.

Upswing in the global economy In 2017, world GDP grew at a rate of 3.1 per cent, 0.7 percentage points more than in 2016. This was the first time since 2011 that the growth rate exceeded 3 per cent.

In 2018, the GDP growth rate is nowcast to moderate slightly to 3.0 per cent.

Large differences in GDP per capita persist throughout the world. In 2017, most developed economies produced an output per person greater than US$30 000, with Eastern Europe as the main exception. By contrast, many developing economies in Western and Eastern Africa, in Western and Southern Asia, all primarily LDCs, recorded a per capita output of less than US$1 000. Developing economies in America, Northern 16

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and Southern Africa, in Western and Eastern Asia and Oceania mostly achieved output above US$3 000 per person.

Disparities in growth across groups of economies Not all regions of the world recorded equally high economic growth in 2017.

Developing economies of Asia and Oceania recorded a rate of 5.6 per cent, whereas the developing economies of America reached only 1.2 per cent. In developed and transition economies, GDP increased at modest rates, 2.3 and 2.1 per cent, respectively. GDP growth in LDCs was 4.4 per cent, remaining well below the 7 per cent target set by the 2030 Agenda for Sustainable Development. Output per capita increased by only 2.0 per cent, due in part to high population growth.

World inequality decreasing Over the last 10 years, the global distribution of GDP per capita has become more equal. For example, in 2007, the poorest economies accounting for 80 per cent of the world’s population contributed 22 per cent to world GDP. By 2017, their share of GDP rose to 32 per cent.

Between 2012 and 2017, however, inequalities in GDP per capita reduced mainly among economies with moderately high income. The relative distance between the richest

and poorest economies in the world remained almost unchanged.

Geographic distribution of current account imbalances The receipts that economies earn from transactions with other economies are often significantly different from the payments made. In 2017, most economies in America, Southern and South-eastern Asia and Oceania recorded higher payments than receipts, leading to negative current account balances. Positive balances were most often found in Eastern Asia and Europe, as well as in major petroleum exporting economies .

In the three economies most constrained by current account imbalances, relative to their annual output, their respective deficits all stood at 23 per cent of GDP. These economies were: Djibouti, Guinea, and Sierra Leone. By far, the highest deficits in absolute terms were recorded for the United States of America (US$449 billion) and the United Kingdom (US$107 billion).

The largest surpluses were run by Germany (US$297 billion), Japan (US$196 billion) and China (US$165 billion).

Recent developments In 2017, the current account surplus of developing economies continued to increase, reaching US$235 billion.

This was driven, at least partly, by a rising surplus in the goods account.

Looking at the breakdown by region, this increase was largely due to decreasing deficits of African and American developing economies, which was only partially offset by a

significant reduction in the surplus for China.

The current account surplus in developed economies, which emerged in 2014, reached US$193 billion in 2017. Over the past year, this increase was mainly caused by changes in primary and secondary income accounts, and to a certain extent also by a slight increase in the balance of trade in goods and services.

The least developed countries’ persistent deficit After five years of continuous decline, from 2011 to 2015, the current account balance of LDCs improved in 2016, and remained almost constant in 2017, recording a deficit of US$52 billion. The LDCs’ trade balance covering both goods and services trade followed a similar trend, with the deficit decreasing from US$103 billion in 2015 to US$90 billion in 2016 and 2017.

The high relative current account deficit, accounting for 4.9 per cent of GDP in 2017, distinguishes LDCs from other developing economies, which, as a group, ran a surplus of 0.9 per cent of GDP for the same year. Similar relative deficits were registered for LLDCs (4.5 per cent) and the heavily indebted poor countries (HIPCs) (6.3 per cent) .

Trends and global

patterns of inflows In 2017, world foreign direct investment (FDI) inflows decreased by 23 per cent to US$1.43 trillion.

Thus, having reached a peak of US$1.92 trillion in 2015, investment fell back to 2013 levels.

In North America and most parts of Europe, inflows of FDI amounted to less than 2 per cent of GDP. For most other parts of the world inflows were higher. However, negative FDI inflows, indicating reverse investment or disinvestment, were recorded in certain economies currently experiencing political instability, such as Venezuela and Yemen. Negative FDI inflows were also recorded in some richer economies, such as Norway and Denmark.

Inflows and outflows by group of economies In developing economies, FDI inflows amounted to US$671 billion, almost double the value of FDI outflows (US$381 billion).

Developing economies in Asia and Oceania accounted for more than two thirds of all developing economy inflows and more than 90 per cent of their outflows. Developed economies, by contrast, generate more FDI than they receive. In 2017, they recorded inflows of US$712 billion and outflows of US$1 trillion .

Origins and destinations of foreign direct investment In 2017, developed economies’ share of global outward FDI remained unchanged at 71 per cent. Over the last two years, developed economies in America accounted for an increasing proportion. Their share rose from 20 per cent in 2015 to 29 per cent in 2017, thus reaching the same share as Europe.

On the recipient side, Asia and Oceania strengthened their position as the main host region of FDI in the developing world, accounting for one third of world FDI. The share of American developing economies increased from 7 per cent in 2016 to 11 per cent in 2017, while the share of Africa remained at 3 per cent.

Consumer prices and exchange rates In 2017, most African economies experienced strong increases in their consumer prices, especially South Sudan where the inflation rate reached almost 190 per cent.

Prices rose by more than 12 per cent also in Argentina, Haiti, Ukraine, Azerbaijan and several Central Asian economies, and escalated rapidly in Venezuela, at a rate of more than 1000 per cent. By contrast, in most developed economies as well as in larger parts of Eastern Asia and Western Africa, prices remained stable, with inflation rates below 2 per cent.

Currencies of main exporting economies, with the exception of the euro, depreciated against the United States dollar in 2017 compared with the year before. The price of a pound sterling fell from US$1.350 to የካቲት 2011 / FEB 2019

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US$1.287, a fall of almost 5 per cent, thereby continuing a descent that had begun in 2015. The value of the yuan and the yen reduced by lower rates than the pound. The euro appreciated by 2 per cent.

Free market commodity prices In 2017, the UNCTAD free market commodity price index (FMCPI) increased by 18 per cent compared with the previous year. This was the first increase in the index in five years. This recovery had been heralded in 2016 by a slowdown in the decline of the ‘All groups’ index and an increase in the index excluding fuels. The rise in commodity prices in 2017 was driven primarily by a surge in fuel prices (+26 per cent) which was only slightly dampened by falling prices for tropical beverages (-3 per cent) and food (-1 per cent).

Monthly trends by commodity group in 2017 The upturn in commodity prices lost momentum during the first half of 2017. The year-over-year growth rate the percentage increase compared with 12 months before of all commodity groups bottomed out around June.

During the second half of the year, fuel, mineral, ore and metal prices rebounded, although unevenly and to varying degrees. In contrast, increases in agricultural raw material prices continued to slow, and eventually declined in 18

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October. Rising food prices stalled in May and thereafter fell continually at rates of around 8 to 9 per cent, year over year.

World population growth slowing down In 2017, the world population grew at an annual rate of 1.1 per cent - half the rate of 50 years ago. The year 1969 marked a peak in population growth, when the growth rate was 2.1 per cent. Population growth dropped considerably during the 1970s and 1990s. From 2003 to 2008, it remained almost unchanged, staying between 1.2 and 1.3 per cent, and since then has fallen slightly again. Population growth is forecast to continue decreasing, falling to an annual rate of only 0.5 per cent by 2050.

Geographic distribution Many Asian economies are home to particularly large populations relative to the geographic space available.

One third of the world population lives, in almost equal proportions, in China and India. Among the ten most populated economies worldwide, the population of Nigeria, the seventh largest, is the fastest growing.

Developing economies drive population growth In 2017, the world population reached

7.55 billion people. Given the current growth rate of 1.1 per cent, an additional 83 million people are added each year. According to projections, by 2050, the global population will reach almost 10 billion people.

Today, 6.2 billion people, i.e. four fifths of the world’s total, live in developing economies. In the 1950s, their share was only two thirds.

The population of Africa has been expanding particularly strongly (in 2017, by 2.5 per cent). It is forecast to continue to do so also over the next three decades.

Urbanization continues Around the world, slightly more people live in urban than in rural areas.

The proportion of urban population is growing and is forecast to increase from 55 per cent in 2017 to 68 per cent by 2050.

Africa has a particularly small share of urban population. In 2017, 42 per cent of African people lived in cities.

In many Eastern African economies, the share was less than 30 per cent.

Large parts of Southern and SouthEastern Asia are also predominantly rural, with an urban population share of less than 50 per cent for developing economies in Asia and Oceania on average. By contrast, in American developing economies, urban populations are as high as in developed economies, accounting for, on average, 80 per cent in 2017.

Aging of the world population In 2017, persons of working age accounted for 65 per cent of the global population. Children made up 26 per cent and older persons 9

per cent. Since the 1990s, the child population has grown only slightly, by around one tenth, whereas the working age population has risen by one half and the number of older persons has doubled.

According to projections, by 2050, only 21 per cent of the global population will be under the age of 15, while 16 per cent will be more than 64 years old.

Dependency ratios throughout the world

case for only one third. The pyramid for developed economies is bell shaped, displaying a concentration of people in the age classes around 50 years.

With extending life expectancy and aging populations, more top-heavy population pyramids are anticipated in the future .

Differences in the structure of dependency The average dependency ratio for developing and developed economies was almost the same in 2017, standing at 53 and 55 per cent, respectively. However, developing economies show relatively high child dependency, in accordance with their triangular population pyramid. Child

dependency is particularly high in Africa, where it reached 74 per cent in 2017.

In developed economies, by contrast, dependency is primarily the result of a large proportion of older persons.

By 2050, child dependency is projected to decrease considerably in developing economies.

Old-age dependency is projected to rise throughout the world. By 2050, developed economies are expected to show a higher dependency ratio than Africa.

Many Sub-Saharan African economies, in 2017, had on average over 80 persons of non-working age per 100 persons of working age. In most developed economies, this percentage was smaller, as reflected by dependency ratios between 50 and 65 per cent. Lower ratios were characteristic for transition economies and for developing economies in Eastern and SouthEastern Asia .

Evolving population pyramids The population pyramid for developing economies has a triangular shape with the highest population shares in age classes below 30 years and diminishing shares in older age cohorts. In other words, in 2017, around half of the population in developing economies was younger than 30 years; in developed economies this was the Source UNCTAD

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M-BIRR e-payment platform supports the neediest Ethiopian households According to The World Bank, in 2015-2016 Ethiopia faced the worst climatic impact in 50 years and resulted in 10 million food insecure households in rural Ethiopia.

To address this challenge, The World Bank and other development agencies, in partnership with Ethiopian government agencies, provide support to more than 7.9millionneedy Ethiopians through the Productive Safety Net (PSNP) program.

The PSNP program addresses important issues like risk management, disasters and food security.

The program is implemented by Ethiopian federal agencies, including the Ministry of Finance and Economic Development (MOFED) and the Ministry of Agriculture, in conjunction with regional and local governments down to the Woreda level. The beneficiaries of the program receive cash or food transfers, and include thepoor, the elderly and people with disabilities.

Established in 2005, the PSNP program initially distributed cash physically to beneficiaries. However, this presented multiple challenges. First, physical cash distribution is timeconsuming and prone to delays due to weather, poor roads and infrastructure, and the rural location of beneficiaries. These factors impacted the timeliness of cash reaching the intended households.

With many households relying on PSNP transfers for food and everyday survival, such delays could be critical.

Another challenge was the potential of fraud, as physical cash is difficult to track and ensure that it reaches the correct recipients.A final challenge was convenience, as many beneficiaries had to travel long distances to collect their cash from an authorized office.

This was very difficult for beneficiaries like Mrs. TadloKasea, who lives in South Gonder in Libokemkemworeda. She is 70 years old, has lost her husband and now lives with her sick daughter and her two toddler grandchildren. She is struggling to survive with her vulnerable family as she speaks about her experience on how she get support from the PSNP program. She says,”I was so frustrated! Me and my family heard about the program, and learned that we werepotential beneficiaries. However, we

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foundthat the help center wastoo far away from my residence.We urgently sought support as quickly as possible,because during that timewe had not eaten for two days.

Fortunately, my neighbor came home and told me thatthrough the M-BIRRe-payment service we could collect money at the closer satellite agents. So we easily registered and startedto get the support. Since then for the past three years we get monthly cash transfers from the program in our nearest location. Now we are safe.”

To address these challenges, MOFED began using the M-BIRR e-payment service in 2015 to distribute cash electronically. The M-BIRR service is co-owned by six leading Micro-Finance Institutions(Amhara, Oromia, Dedebit,OMO, Addis, and PEACE), covering most regions in Ethiopia, including Addis Abeba, Amhara, Oromia, Tigray, Diredawa, Hararand SNNPR. With over 7,000 branches and agents, both in urban and rural areas, PSNP beneficiaries can collect their cash more conveniently, and closer to home.

With the M-BIRR service, PSNP payments are delivered electronically in a timely manner.

Weather and infrastructure are no longer a major factor that can impact delivery. And finally, the potential for fraud is significantly reduced, as e-payments can be easily tracked to ensure that they are delivered to the correct beneficiary.

Mr. AsnakeTarekegn, who worksas a PSNP technical coordinator in South Gonderlibokemkemworeda, says:”Our Woreda is one of

the PSNP cash transfer locations that have implemented e-payment using the M-BIRR service. What makes it special among others is it’s accessibility to the beneficiaries in their own kebele (village) and cash collection is done from a neighborhood shop. The M-BIRR service works well, makes it easier to pay beneficiaries and has a good network of payment locations too.”

In addition to assisting the needy, the PSNP program also provides supplemental income to workers who contribute to public projects in their community. For example,Mrs. Atala Alene came to an ACSI

Microfinancebranch to collect her elderly mother’s payment.

She looks healthy and young, and explains how she also receives payments from the PSNP program:“I have five children and my husband’s income is not enough to support our big family. He had too much stress and I wanted to share his burden but didn`t realize how I could help. One day our Kebele communicated to us that we could join the public work group and explained howthey would pay us through M-BIRR on a monthly basis from January through June,

every year for six months. I had started working with the PSNP group, andwe participated in environmental protection and reforestation projects.

I starting earning my own income to help my family. I am so glad to have gotten this opportunity, and it has boosted my confidence.”

Today, over 800,000 households, representing over 3.5 million Ethiopians, receive cash support from PSNP via the M-BIRR service. There are many Woredas that still distribute cash physically.

However, every year, more Woredas are embracing modern e-payment through M-BIRR.

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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. የካቲት 2011 / FEB 2019

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The Opportunity Cost of Doing Business for SMEs in Africa

Credit: Josephine Wawira Image by Andrey_Popov

Fintechs are Easing Access to Credit for Small and Medium Enterprises.

The African economy has gathered momentum over the years, with an estimated increase of 3.8% of the real output growth in 2017. As the largest economies gradually strengthen, the 2018/2019 performance should reach 4.1% according to the African Development Bank. This economic growth and sustainable development has largely been contributed by Small and Medium Enterprises (SMEs). In Kenya for instance, SMEs contribute approximately 40% to the GDP and employ over half of the country’s workforce.

Yet, becoming a profitable SME in the continent is never a smooth sail for many. There’s the presence of stringent government regulations in several countries, though the flexibility of doing business in others is a force to be reckoned with. The World Bank has recognized Kenya 24

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as having implemented the most reforms in the region between June 2016 and June 2017.

These include the reduction of the number of procedures required to register a business, as well as utilizing a single window system to reduce the time for import documentary compliance.

Then there’s the implementation of iTax, an online platform that allows Kenyans to easily register their businesses, fill and pay corporate income tax among others.

Moreover, access to credit remains one of the biggest hindrances for SMEs in Africa to thrive. The major banks are mainly huddled in big cities, making it difficult for a predominant section of businesses in the rural areas to access formal financial services.

Besides, there exists rigorous risk assessment requirements

by financial institutions that tend to limit the number of businesses that can access credit. These requirements include but are not limited to collateral, which often proves cumbersome to acquire even when trying to access short term credit or simply, is non-existent.

According to Juan Seco, the Chief Operating Officer of JumiaPay, “Non-collateral loans are on the other hand quite expensive for most SMEs in Africa, with an Annual Percentage Rate (APR) that can go as high as 300% in Kenya and 240% in Nigeria.” The Central Bank of Nigeria records about 69 percent of SMEs who wanted to apply for loans but failed, due to fear of application rejection related to collateral requirements and other associated conditions attached to the loan approval processes such as bad scores.

Notably, the entry of Fintechs

“

(Financial Technology) companies into the banking market in Africa, is gradually improving the process of accessing credit for SMEs. Jumia is one of the companies revolutionizing the sector with itsJumia Lending service, an initiative that provides working capital financing for shortterm borrowers. These are vendors selling on the online ecommerce platform for at least six months, seeking to expand and grow their online business. The program aims at boosting financial inclusion in the continent, not only by providing sellers with an online visibility and a vast customer base; but

customer ratings is accurate.

In addition, we give them first lien on the sales on Jumia, so even though these are not collateralized loans, they are highly de-risked as we give them some control over the sellers’ cash flows. For our sellers, we understand they cannot afford to spend hours in traffic and at the branch, so we digitize the onboarding process, so they can keep running their shops and not lose valuable income”.

Currently applicable in Kenya and Nigeria, and soon to be launched in other countries where Jumia has operations, the Lending Program involves a quick online registration process

capital and gotten higher returns. When I lost funds and communicated the same to the lending team, they gave me a grace period to recover;a benefit that is not available on other lending facilities,” says NauriMwei, a vendor on Jumia.

The impression fintechs such as Jumia Lending are leaving on credit consumers and especially SMEs in Africa, is that of value add to their businesses. They are bridging a long existing gap in financial inclusion in relations to credit access, by providing a more transparent and seamless way of availing financial services to a wider range of consumers in the continent.

Non-collateral loans are on the other hand quite expensive for most SMEs in Africa, with an Annual Percentage Rate (APR) that can go as high as 300% in Kenya and 240% in Nigeria. also, with access to affordable working capital to boost their commerce.

Juan Seconotes that, “we understand the challenges faced by our vendors and SMEs in general, to access working capital financing. We have therefore, also partnered with some of the best institutions where we try to bridge the gap for sellers seeking long term credit facilities. With Jumia being in the middle, our lending partners have the security that the data of our sellers on Jumia, such as sales or

with feedback provided within 72 hours. Vendor applicants benefit from low interest rates of as low as 12% per annum, on the non-collateral loans with flexible repayment plans of between 1-6 months.

“I am on the second loan and the process of paying back is quite efficient and flexible since you get to plan your installment deposits and manage it by yourself. I have managed to grow my business የካቲት 2011 / FEB 2019

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Let’s Network !

A group of individuals have developed a business to start up a chemical manufacturing plant in Ethiopia, although they have raised 50% of the paid up capital, they are still looking for some financial investors willing to be part of the project.

Majority of the share will be held by the group.

A real estate company that has 13 stories apartment built in a central part of the city and in the final stage of finishing is looking to sell the building. Interested buyers, who have the capacity to take it out of the sellers’ hands immediately, will get priority.

A tomato paste manufacturing company in Amhara region wants to outsource it distribution to interested parties. The distributer should have the capacity to take all the manufactured good with its on transportation and should also be able to distribute the product to different part of the country.

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A company from London wants to come to Ethiopia to open a branch of it shoe manufacturing plant, the company has a 40years of experience in the business but wants to come in as a joint venture as it looks to manufacture for local consumption rather than export. Any interested investor can partner up with them by either putting up work space, money or both.

A coffee roasting and packaging company in Ethiopia is looking for an export opportunity in south east Asia and will be willing to sign an exclusive partnership agreement with interested parties who will be willing to take and distribute a constant amount of the product to the region per year.

If you are interested In any of this Networking opportunities please contact us; Ethio Great Investment Support Service Plc Bole medhanialem Abyssinia Building 1st floor Tel:+251-116-67-46-55 Mob:+251-983-31-30-30 Email: info@ethiogreat.com www.ethiogreat.com

Zig Zag Hotel and Spa formally opens its doors on 17 November 2018. Located around Meskel Flower, a central business and residential location, the 6 story Hotel and Spa is strategically placed close enough to the main road but away from the noise the buzzing city nightlife comes with.

This boutique hotel offers a dynamic package of opportunities with wellness embedded as its heart.

The establishment has positioned its self as the epitome of accessible leisure and premium lifestyle.

Its beautifully decorated rooms come with the perk of easy spa access throughout guests’ stay.

“What we’ve built is not just a hotel but a way to new life style” Konstantina Emmanuel Owner of zigzag hotel. She went on to explain how the different type of new treatments that was brought into the hotel spa plus the different packages will create an opportunity for customer to enjoy a new way of recreation and relaxation. Customers can now come to the facility as an individual, couple or group and spend the whole day or 24 hours ( including beds) getting pampered and fully relaxing. We created an opportunity for people to get away from their stressful life and relax and build their body in a healthy way. And we expect this to be part of peoples life and set a trend.

Within the complex, ZigZag manages variety of rooms suited for all varieties of its guests including standard rooms; single and twin rooms; junior suites, family room and a luxurious double story penthouse ideal for families or groups up to five with a spacious living area and two bedrooms. The penthouse also comes a self-contained kitchen fully equipped with all essentials – oven, coffee machine, other kitchen utensils, silverware and cutlery – to accord the secluded feel.

ZigZag is designed to be a compelling and multiactivity relaxation destination. Having been under construction for nearly six years, ZigZag will offer extensive recreational facilities, including 24 hours spa as well as hair salon and barber services; a cozy bar; a restaurant; a souvenir shop; and a dedicated pizzeria and cafeteria.

የካቲት 2011 / FEB 2019

Africa receives only

5%

of the international arrivals

A

By Josephine Wawira

frica’s travel and tourism industry continues to record impressive growth over the years. In 2017, the continent hit a 63 million high in international tourist arrivals as compared to 58 M in 2016 (+ 9% vs 2016). 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. 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 number however represents only 5% of the world share of international tourist arrivals that Africa receives. In a recently launched Africa Hospitality Report 2018/19, Jumia CoFounder Sacha Poignoinnec notes that this percentage represents “great potential for the African travel market, as demand continues to grow due to strong economic growth, a middle class on the rise and a young population”.

Respectively,Europe boasts a 51% world share of

international arrivals, while Asia and the Pacific 24%, Americas 16% and the Middle East 4%.

Existing challenges deterring Africa’s better performance In the same report, the UNWTO’s Secretary General ZurabPololikashvili highlights challenges hindering the growth of the sector in Africa, including 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

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wildlife and torn apart by war, poverty and diseases,” adds Pololikashvili.

Others also include, underdeveloped tourism infrastructure, visa restrictions and lack of a common visa policy, as well as lack of access to adequate funding and underfunding at the ministerial level.

Berhan Bank in the Making In its 9th Ordinary Annual Shareholders’ Assembly held on November 10, 2018, Berhan Bank disclosed that it has registered remarkable results in major areas of its operations providing to be one of the most competitive banks in the country.

Boosting its paid up capital to 1.7 billion birr, the Bank has managed to have 14,879 shareholders and a total asset of 14 billion birr.

In a bid to enhance efficient service delivery and strengthen the development and implementation of new product development efforts, the bank has established a stae-of-the-art data center

The international tourists spending in Africa stands at 40% as compared to domestic tourists spending with a high of 60% according to the Africa Hospitality Report by Jumia. The impressive record in domestic travel is because

of affordability and improving ease of travel in the continent.

Besides, leisure travel remains dominant in Africa with 70% in expenditures, as business travel records an expenditure of 30%.

which went operational in the 2018/19 fiscal year.

Apart from its outstanding financial performance, the year also marks successful discharging of its corporate social responsibility through the donation of 2 million birr to internally displaced people in various regional states.

Opening a recorded 21 new branches during the budget year (2017/18, the bank has expanded its total branch network to 182.

Correspondingly, it has managed to increase its customer base to 523,705, showing a remarkable growth of 43%. የካቲት 2011 / FEB 2019

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Services we provide

Integrated Network Design, Installation and Commissioning ICT infrastructure Integration Converged Infrastructure Wireless LAN WAN Optimization Data and Voice Communication Internet Access Service Telecommunication Service BTS/RBS Equipment Installations BTS/RBS Equipment Commissioning and Integrations GSM RF Works (Feeder Systems, Antennas Mountings) Microwave installations, configuration & commission RF Networking Optimization VSAT system & intern (Data and Voice) Connectivity Hardware Maintenance and Support ICT Security System Network Security Access Control System CCTV Data Center Design and Build (Data Center Facilities ) Call Center Storage, Backup and Disaster Recovery Virtualizations Video Conferencing Services V Sat Services Digital Education E-commerce and Content Service Unified Communications ICT Consultancy GIS Professional Service Software Development and Maintenance Application Control ERP Software Integration

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Eagle Hills Eyes Ethiopia By: MekonnenHailu (EIC Public Relations Director)

As one of Africa’s hidden gems, Ethiopia’s rich historical, cultural and natural beauty captivates the hearts and minds of people across the world.

The ancient Rock-Hewn churches of Lalibela, Aksum obelisk, Gondar and Jegol buildings are among the world wondering architectures in the country.

This, in fact, could make the nation among the home of world wondering architectural fruits though the move was shattered for centuries.

Construction in Ethiopia; however, has become the most vital component to develop the nation. It plays critical role on socio-economic changes, especially to decrease the rampant unemployment rate. But the method of management, transaction, correspondence, and marketing of construction area in the country doesn’t change a bit.

The sector, in no doubt, is contributing to the promotion of entrepreneurship and private sector development. On top of this, it appears to be the major accelerating factor for changing the face of cities and towns across the country.

The capital, Addis Ababa, also the capital of the continent, this time around, is changing its over century-old face for the better. This attributes to the booming 32

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La Gare

construction activities being carried out by the government housing project and the private sector.

Recently, Eagle Hills, a private Abu Dhabi-based property developer, has entered the Ethiopian market with plans for a 360,000 square metermixeduse scheme in Addis Ababa.

The project called La Gare , is named after the city’s former main railway station that took passengers from Addis Ababa all the way through Adama and Dire Dawa to Dijibouti.

The Company, which will be one of the largest mix-use developments in Ethiopia, marks the company’s first venture in the African nation.

Situated in the city center, La Gare is anchored by four and five-star hotels supported by retail outlets, offices and residential buildings. The government of Ethiopia, in partnership with Eagle Hills, aims to develop a social housing component within the masterplan, where residential units will be built to permanently accommodate

construction project

the existing residents currently living in the project site.

La Gare’s retail attractions are second to none; seamlessly fitting into a landscape setting that brings a new lifestyle choice to Ethiopia.

A vibrant modern retail and leisure destination in the heart of the city, La Gare’s retail district is set amid elegant plazas and open space with a focus on being pedestrian friendly.

The Ethiopian government will have 27% share in the project which includes malls, 4000

apartment houses, hotels, recreation center and estimated to take up to seven years to be completed.

Since its founding in 2014, Eagle Hills has realized an impressive growth plan that has seen it enter into agreements to support the redevelopment and reinvigoration of numerous cities in Africa, Eastern Europe and the Middle East.

The project is expected to energize the economy by creating around 25,000 jobs for

25,000 jobs Ethiopians. The development project also aims to preserve the historical and communal values of the areas, while ensuring the current dwellers are also beneficiaries of the project through ownership of some of the apartment units, challenging the previous practice of displacement. የካቲት 2011 / FEB 2019

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ፍንገጣ 4 በ ቻቻ

“አትሳፈጥ.........” *** If man will begin with certainties, he shall end in doubts,but if he will content to begin with doubts, he shall end in certainties. ከጥርጣሬ ከጀመርን መደምደሚያችን እውነት ሲሆን፤ከእውነት ከተነሳን ግን መጨረሻችን ጥርጣሬ ይሆናል። ፍራንሲስ ቤከን እኔ ደግሞ እልሃለሁ.......! ተጠራጠር እንጅ አትንጠራራ። ምክንያቱም. ........ ነብይ ሲወርድልህ ጣኦት ይሻለኛል አትልማ። ከተንጠራራህ ግን እንኳን ነብይ አብይ ማን ነው..? ወደሚያሰኝ ውቀት ትሄዳለህ። ከዚያም ፍፃሜው ወደተዛባ ለውጥ ሲያመራ ድሮውንም እኔ እኮ የማልረባ ሰው ነኝ ወደሚል የራስ ወቀሳ ሃሳብ ትሻገራለህ። ስለዚህ ድንዝዝናን አትሳፈጥ። ድንዝዝዝዝዝዝዝዝዝዝ ካልክ”ደነዝ” የሚል ተቀፅላ ስም እንዲለጠፍልህ በር ከፍተሃል ማለት ነው። 34

የካቲት 2011 / FEB 2019

እናም ቸልተኝነትን አትሳፈጥ። ሰፋጣ ወደ መሠንፈጥ ይመራል። ለምሳሌ.......... ማንበብ ሙሉ ሰው ያደርጋል ብሎ መሃይምነትን መሞዳሞድ ሃሳባዊ ቀፋይነት ነው። ድንቁርናን አትሳፈጥ ። የት ይጥልሃል መሠለህ እንጦሮጦስ። ደደብ መባል ምሁር ሁን ማለት ነው። ደደብ ማለት ስድብ አይደለም። ደደብ......! ነህ ስልህ አትከፋ! ለማወቅ ቅርብ ነህ ብዬ ታላቅ ወደ ምትሆንበት መንገድ እየገፋሁህ ነው። የአዋቂነት ምንጩ አላዋቂነት ነው። ያጣሃውን ፍለጋ ስትባዝን ያላጣሃውን ትጥላለህ። እስክታገኝ ግን አታገኝም።አቅጣጫው ቢገባህ እንጅ አዋቂ መሣይ አላዋቂነት ገገማ ጥራዝ-ነጠቅ ያደርጋል። (ሰማይ ላይ ጤፍ እየተወቃ ነው ሲሉት.... አይኔ ላይ ገለባው ገባ እንዳለው አይነት) አብዝሆነድማ.........! እውቀት ጠብሾህ ሳለ በምሁርነት ጭዌ በየፓናል ኮንፈረንሱ ግርርርርርርርርርርርርርርርር አትበል። “ማወቅን አትሳፈጥ ክብርህን ይቦክምሃል” የኢንተርፕነረር ሽፕ ምሁሩን የዶክተር ወሮታውን ቱጃር

አለመሆን አይተህ መማር ግዜን ማባከን መሆኑን ማሳያ ለማድረግ አዲሳባ በመጣ በጥቂት ግዜ G19 የገነባውን በላጭነት ከጠቀስክ የማምጣትና የመውሰድ ብልሃት ተምታቶብሃል ማለት ነው። የምታገኝበትን መንገድ ሳታጠራ ከጥሩዎች መንትፈህ ጥሩ ብትሆን እውቀትህ ወዳለማወቅ ተሸምልሏል ማለት ነው። እሱን ስትገረፍ ታወራዋለህ.........! ይልሃል ፀረ ሙስና ኮሚሽን.........! ......ደግሞም እንዲህ ለማለት አትፍራ..... የማውቀውን እየሰራሁ እማራለሁ እንጅ፤ የማላውቀውን ለመማር የተማርኩትን ሳልሰራበት አልኖርም በላቸው። ያልታዬ ምግባር ከንድፍ ሃሳብ ዝቅ እንዳይል Faith is to believe what you do not Yet see,the reward of the faith is to See what you believe. “እምነት እስካሁን ያላዩትን ማመን ሲሆን፣ሽልማቱ ደግሞ ያመኑትን ነገር ማየት ነው” እንዳለው ሶፎክለስ አንተነትህን አቅናው። የጥቅል ህዝብ ጥራት ከነጠላው አንተ መንፃት “ሀ” ይላል “አጁሃ” በለውጥ ላይ ድቃስ አታብዛ። * ለራሱካህ ቅርብ አማካሪ ሁን። * ራሱካህን ስብሰባ ጥራ። * ራሱካህን በግምገማ አጥራ። ያኔ ያገጠጠ አለት የነበረውአደባባይ ሞዝቮልድ ሆኖ ይቀበልሃል። በየትኛው መንገድ አሸንፎ የሚጥልህን ነገር አትሳፈጥ። Ufc ሻምፒዮን ውድድር ላይ ራሻዊው ኑርማጎሜዶቭ ካቢብ እና አየርላንዳዊው ማክግሪጎር ከመቧቀሳቸው በፊት ባለ መበሻሸቅ ማክግሪጎር የካቢብን የግል ሰብዕናውን ሲበዛ የሚያጠለሽና የሚጎዳ ንግግር

በተናገረው ግዜ በመታገስ ካለፈው በኃላ ኑርማጎሜዶቭ የውድድሩ ቀን በአለም ህዝብ ፊት ማክግሪጎርን አዋርዶ እጅ አሰጠው። ከተግባርህ ንግግርህ ሲቀድም ወደመውደቅ ትሄዳለህ።ያኔ አነቀፈው ብሎ እኔን እሚልህ ሆደቡቡ ዜጋ አታገኝም። እሰይ ደግ አረገ የሚል ቃል ከወደ ጀርባህ በሰማህ ግዜ አንገትህ ላይ የሚገባ ሸምቀቆ ገዝቶ እንዲመጣ የጠላትህ እግር ላይ ወድቀህ ትማፀናለህ። አልፎ አልፎ እሚጥልህንም ፍለጋ እምታጣበት ግዜ አለና ውሸትን አትሳፈጥ።

አንድን አርሷደር ከጉልጓሎ ላይ ፒክ አርጎ የአብይ ወንበር ላይ ድሮፕ በማድረግ ሃገር እንዲመራ መጋበዝ በሉት። ስለዚህ ምንንም ነገር ያለቦታው በማስቀመጥ ነገን ለማበላሸት ዛሬን አትሳፈጥ።

Brother ጋሼ (ወንድምጋሼ ለማለት ) ካቀበቱ ወደ ዝቅዝቀቱ አንጋጠህ አትመርሽ። እንዳትፈጠፈጥ።

በዚች በምንኖርባት ድንቅ ሃገር ላይ ድርቅ ሰፍኖ ማየት የማያመው ዜጋ የተፈጥሮን ምሉዕነት ከነፈጣሪው የመናቅ ስንኩልና ነው። ሰማያዊ ልዕልናን መሳፈጥ 1966 እና 1977 ላይ ወስዶ ያሽግሃል። የተሰጠህን አትሳፈጥ።

32 ጥርሱን ገልፍጦ ተቀብሎህ........... በልቡ............! “አቦ ይሄ ሸጣራ መጣ”.... ከሚል ወዳጅ ለመጠበቅ ዘይተማህረ ነየድህን፤ ዘይትወቀረ ነየጥህን “ያልተማረ አያድንም፤ያልተወቀረ አይፈጭም” ብለህ ወደ እውቀት ተሞጀር።

ብዙዎቻችን በአውሬ ሰብዕና የተሞላን ስለሆንን ላደራ አንበቃም። “ሚስቴን እና ልጆቼን አደራ”.. ብሎ ወደ ጦር ግንባር የሄደን ጓደኛ ቃሉን በልቶ የተኛት ባልንጀራ ይህ ምሳሌያዊ አነጋገር ጋር የተወዳጄ ነው።

ምክንያቱም በመጀመሪያ ብርሃን ይሁን በተባለው የኦሪት አንቀፅ ላይ ሲመሽም ጨለማ መሆኑ አይቀሬ እንደሁ ያትታልና በራስህ ላይ ንጋ።

“ጅብ ጥጆቹን ጠብቅልኝ ሲባል ይጠፉብኛል አለ”

“መሳፈጥ ከእውነታ በተቃራኒ መቆም ነው” ዳገት ላይ ተበላሽቶ የቆመን ሲኖትራክ ባጃጅ ስባ ወደዳር እንድታደርገው ካቦ ከታሰረላት የአልበርት አንስታይንን ሃሳቦች ከማውገዝ አይተናነስም።

እዚህ ሃገር ላይ ብዙ ላሞች አሉ።ሞኞች....! ብዙ ጥጆች አሉ ለጅብ አደራ የተሰጡ። ብዙ ጅቦች አሉ ለመብላት ተዘጋጅተው ይጠፉብኛል እሚሉ። በይህን አትሳፈጥ። ለምሳሌ እኔ “sexualpoletics” ካስመረሩት ውስጥ አንዱ ነኝ።

በተዋወቅሃት ቅፅበት የወደደችህ ሴት ስትደውልላት ስልክ አታነሳም። ምክንያቷ ደግሞ ድንገት የመደንገጧ ልክ ታውቆ ወንዱ እንዳይኮራባትና በራሱ ግዜ “የኔ ማር”እንዲል የማድረጊያ ስልት ነው። ለግልፍተኛ ወንድ በማይሰራበት ሁኔታ ይህን እስትራቴጅ የተጠቀመች እንስት መልሳ ስትደውል ስልኳ ካልተነሳ ራሷ እጅ ትሰጣለች። የኔ ማር መባል በሻተችበት ስልቷ የኔ ማር ብላ መለማመጥ ትጀምራለች። ሞንዳልዬ....... “ተፈጥሮ ሲገፋሽ ኑሪ እንጅ ተፈጥሮን ገፍተሽ አትኑሪ” እልሻለሁም........! ውጪ....! ባዲሳባ ጎዳናዎች ላይ......! ይህን ባህላዊ የተቃራኒ ፆታ የመሳሳቢያ ህግ ብዙዎች አላስፈላጊ ውድድር ውስጥ ገብተው ከማይጠቅማቸው ነገር ላይ ወድቀው ሲከስሩበት ታያለሽ። ባህላዊ ህግን አትሳፈጭ።ከሰው ሰው ይጥልሻል። መሳፈጥ ችግኝን ነው። በተራቆተ መሬት ላይ ካልተከልኩህ ሞቼ እገኛለሁ ብሎ መጋተት። አፈርም አቅፎ ያሳድገው ስር ሲበረከትለት ከመሸርሸር በመዳኑ ውለታውን የችግኙን ቅርንጫፍ በማንጀርፈፍ ጥላ በመስጠት ይክስማል። ደግን ነገር ሙጥኝ ማለት ደግ ነው። እማታረጀው ስለ ፍቅር ስትኖር ነው። ትክክለኛውን ለማውገዝ ሰፋጣ አታብዛ። የካቲት 2011 / FEB 2019

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Humble Beginning History has it that banking in Ethiopia dates back to the turn of the century, when in 1905, the Bank of Abyssinia was established in Addis Ababa, under the reign of Emperor Menelik. This event marked the introduction of banking in the country.

The

By Aklile Tsige

Growing

Banking

Industry

Initially the Bank of Abyssinia was given a-50-year concession and was engaged in issuing notes, collecting deposits and granting loans, but its clients were mostly foreign businessmen and wealthy Ethiopian.

A few years later, disappointed by the behavior of this bank, mainly devoted to profit-making rather than promoting economic development, the emperor supported the establishment of a wholly Ethiopian bank, the Society Nationaled’Ethiopie Pour le Development de’agricultureetdu Commerce.

Emperor Haile Sillassie, after taking over the throne in 1930, could not accept that the country’s issuing bank was foreignowned, and in agreement with National Bank of Egypt, decided the liquidation of the Bank of Abyssinia.

A new bank, the Bank of Ethiopia, which had branches in Dire Dawa, Gore, Dessie, Debire Tabor and Harrar, under Government control, was established in 1931 and retained management, staff, premises and clients of the old bank. Italian occupation in 1936 brought the liquidation of the bank.

Despite this dissolution of the Bank of Ethiopia, a number of Italian financial institutions were working in the country; banks like Banco Di Roma, Banco Di Napoli, BancaNazionaledelLavora and some others were operating in the country.

With the departure of the Italians and the restoration of Emperor Haile Sellassie’s government, the State Bank of Ethiopia was established in 1943 with a capital of 1 million Maria Theresa Dollars.

In 1963, the State of Bank of Ethiopia split into the National Bank of Ethiopia and the Commercial Bank of Ethiopia Share Company with the purpose of segregating the functions of central banking from those of commercial banking. The new banks, then, started operation in 1964.

The Ethiopian financial institutions, in deed, had gone through various trends and structures during the Emperor and the military

36

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dergue administrations.

After the downfall of the dergue regime in 1991, the then Transitional government of Ethiopia that issued a new economic policy, replaced centrally planned economic system with a market-oriented system, and used in the private sector.

Several private companies were formed during the early 1990s, many of which conceived the idea of establishing a private bank and private insurance company in anticipation of a law helping open up the financial sector to private investors.

Currently there are 16 private banks operating across the country, out of which Awash Bank, Dashen Bank, Wegagen Bank, Oromia International Bank and Abyssinia Bank are among the earliest private banks established and shown magnificent growth in the sector.

Most importantly, these private banks, besides taking social responsibilities, have contributed their share to the ever increasing and stunning looks of the capital Addis Ababa through the construction of their headquarters with unique architectural design.

Top Ten Profitable Banks This fiscal year(2017/2018), the banking industry has seen itself fettered in the vortex of obstacles from the forex crunch to the political unrests engulfing the country. However, the crisis didn’t hold the banks back from breaking the shackles and coming out looking good.They have registered a record high growth rate in six years coupled with accelerated branch expansions.

While the previous budget year closed for most Ethiopian banks, not all banks have disclosed their financial statements for the 2017/2018 fiscal year.

The following is a close estimate of their profit before and after tax for the specified period.

Rank

Bank

Gross profit In ETB

01

Awash Bank

1.80 billion

02

Dashen Bank

1.10 billion

03

Wegagen Bank

1.05 billion

04

Oromia Int’l Bank

938 million

05

Abyssinia Bank

766 million

06

United Bank

706.9 million

07

Nib Int’l Bank

650 million

08

Cooperative Bank of Oromia

635 million

09

Anbessa Int’l Bank

500 million

10

Bunna Bank

427 million የካቲት 2011 / FEB 2019

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Engaging the diaspora on the Tech industry

By Legesse Nega Managing Director at Lucy Technologies plc

Across the board, diasporas are eager to get involved in developing their countries of origin, not just by sending remittancemoney, but also by getting involved in the development of their respective countries through any means that they believe value add. Remittance flows unquestionably serve as an important lifeline for millions of families in developing countries and thus have been the focus of many policy discussions. However, remittances are largely used for short-term rather than productive engagement that can fuel sustainable economic growth. Ethiopian diaspora is no different.

The Ethiopian diaspora hasvery close ties with their country, a characteristic of Ethiopians which defines them abroad as a community that preserve their identity despite where they live.

The ICT sector is one of the sectors that need a huge human capital to peruse the government initiatives to an attainable realistic goal.In order to do that, there should be a high degree of involvement from the diaspora community.

The process of getting people living abroad involved to bring innovation to the economy needs a great deal of time and commitment from all parties involved in. During the IT boom in 38

የካቲት 2011 / FEB 2019

the late 90s, Indians workers fromU.Sconvinced their bosses and management teams that they had the contacts and background to set up a competitive tech farm in India. In 2000, ten of the twenty most successful software companies in India were managed by former Indian residents who live in the US; five of these were joint ventures between Indian and foreign companies. In 2012, twelve of the twenty most successful IT companies in India have expatriate Indians as founders or CEOs/Managing Directors.

This is how the leading Indian tech companies such as Infosys came into existence.

There is an extensive amount of talent built around the ICT Industry by Ethiopians across the globe, with multiple verticals ranging from government to private, healthcare to communications. Eventhough this is not suggesting that we need to replicate the Indian model, I believe we can collectively make some strides by engaging the human capital as well an as investment within the diaspora community. Being said that, I am not in delusionwith

the challenges of growth of Information Technology in Ethiopia, from human capital to infrastructure. The problems are wide in range and scope.We’ll address those problems on a later time as it is not the intent of this article.Sohere is a couple of engagement matrixesthat aids to drive the diaspora talent.

Crate partnership among localTech businesses and their Diaspora Counterparts Create a network of organization that matches tech entrepreneurs or business owners with those in the diaspora. Those networks should include seasoned experts and business leaders that can offer advice to local entrepreneurs on how to tackle technology related issues and as well as mentor and collaborate on projects already in progress or on the pipeline.There should also be a development marketplace where entrepreneurs with good ideas can do joint projects with the diaspora.

Government should also create programs to develop

that harnesses the power of space to beam high quality education and knowledgeto those that need it the most, such as Ethiopia.

the technologies most needed in the developing world in collaboration with diaspora members with the highest skill level.It is worth to mention that the level of commitment is an important piece here from both parties.

Build human capacity and rally around the diaspora There are subject matter experts (SME) in range of ICT disciplinesfrom the diaspora community and they are very keen to work and come with ideas and willing to participate oncounterparts, even if it is for a short engagement.

A perfect example is a group of volunteer doctors who come to Ethiopia on yearly basisworking on health facilities and provide range of services. Thesame approach can be applied in the ICT sector.

Creating a pre-define missions or assignments are common ways to engage individuals for shortterm projects. Just an example, IT bootcamps.The mission could be to provide real hands-on training in the shortest amount of time with the highest quality possible, ensure clear understanding of newtechnology products and standards.That helps participantsto raise their knowledge, competency and develop soft skills.

These short-term assignments might not be a prefect a solution

buthelps toinspires diaspora for more participation and give them an insight and pave the road to commit a long-term engagement after their experience.

Create Exclusive Networks of Top Business and Industry Leaders Another way of engaging the diaspora tech community is by creating a network of organization fully focused on acquiring top business leaders and influential diaspora members. These individuals offer their time to mentorship the local talent, participating on networking events and meetings with other stake holders such as government leaders and promote the ICT development and strategy in the country. By selecting and bringing together key diaspora members around the world who work in important growth sectors, theycan create and deploy a potentially influential resource for the ICT development. Owner and founder of World Space and Yazmi – Mr. Noah Samara is a prefect example.

He is an entrepreneur and household name in space technology.I had the privilege to attend some of his speeches and presentations for the ICT community a couple of years back which focused onvisionary anddisruptive learning solutions

Proximity could be a challenge.

Diasporas who work in developed countries and who are interested engaging in the IT field might be less inclined to return permanently back but rather prefer to run and collaborate with the local enterprises from a distance. This raises the question of whether permanent physical presence in the country is of utmost importance or whether members of the diaspora can be effective from where they reside. Running a tech firm from a distance has some challenges. We might ask whynot, at this day and age where IT professionals collaborate across the world without visiting a client site to provide services.

But in most cases, clients in Ethiopia wants your physical presence throughout the span of the project just not only the fact that thetradition to work with electronic communication channel is very limited but the work environment also needs your personal engagement (mostly onsite meetings)which allows you to create a long-lasting work and off-work relationship with your clients.

I believe the country is currently looking for innovative solutions to most of our old problems.

There is huge deal of work need to be done to streamline existing processes and bring efficiency in a much-neededsectors and the diasporasshould position themselves to play a significant role driving the transformation of the country through technology. የካቲት 2011 / FEB 2019

39

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Efficient Foreign Transfer Service

BERHETAA

የካቲት 2011 / FEB 2019

የካቲት 2011 / FEB 2019