Africa Reports

List of all articles filed under “africa-reports” category.

Robust economic growth of Ethiopia during the last decade contributed to poverty alleviation in the country

February 12, 2014

Ethiopia Top Stories
Robust economic growth of Ethiopia during the last decade contributed to poverty alleviation in the country
While the economy of sub-Saharan Africa grew on average by 4.9%, Ethiopian economy registered a robust growth of 7.5% in the 2012/13 fiscal year according to the latest African economic outlook. Since the 2004/2005 fiscal year Ethiopian GDP had been steadily growing by an average of 10.6% each year according to the World Bank data. This in turn pushed the country to rank among the top fastest growing economies across the globe; led by the expansion of services followed by agriculture and manufacturing.

Ethiopia: Striving to achieve a middle income status by 2025

February 11, 2014

Ethiopia Top Stories
Ethiopia: Striving to achieve a middle income status by 2025
Certain economic analysts project the country’s per capita income (currently lowest in the region) to reach up to USD 4,000 within the coming ten years. Such achievement will make Ethiopia—a country previously described as ‘the poorest country in the world’—one of the top three powerful economies on the continent.

Technostyle, a leading importer and supplier of furniture in Ethiopia, to start manufacturing locally

February 10, 2014

Amelework Ghidey, Managing Director of Technostyle
Being in the business for the last 15 years, Technostyle has managed to indentify its niche market and moved itself up the ladder to become the leader in the import and supply of furniture in Ethiopia. The company is also involved in interior design, offering unique turnkey interior solutions. By relying on the young returnees educated abroad, Technostyle aims to increase their productivity by 300% in the next five years. While currently importing from more than 15 international companies (Turkey, Italy, Malaysia, China, Singapore, Indonesia and America), Technostyle now wants to focus on local manufacturing by using 60% local materials from Ethiopia.

Ethiopia banking sector analysis: Ethiopian banks at a crossroads

February 7, 2014

Ethiopia Sector Analysis
Ethiopia banking sector analysis: Ethiopian banks at a crossroads
Thanks to the firm monetary policy of the National Bank of Ethiopia (NBE), all Ethiopian banks have survived until presence and none has been experiencing symptoms suggesting possible bankruptcy. Ethiopian banks now appear more profitable and ahead of the sub-Saharan standard. Conversely, the sector has to tackle a number of challenges including Ethiopia’s accession to the WTO.

Exploring the gold mining potential of Ethiopia | MIDROC Ethiopia Technology Group

February 5, 2014

Dr. Arega Yirdaw, CEO of MIDROC Ethiopia Technology Group
MIDROC Ethiopia Technology Group reached more than 5 billion Birr of sales in 2013 (as oppossed to 3.5 billion Birr three years ago) and currently employs about 7,000 workers. The main factor for the group’s success is the sale of gold…

2014 will be challenging for Ethiopian coffee producers and exporters, says Addis Exporter

January 30, 2014

Michael Mamo, Managing Director of Addis Exporter
“There are more investments in farming and more coffee exporters are actually getting into the coffee trade in Ethiopia. However 2014 is going to be a very challenging year because the international market price has dropped dramatically and our local market situation remains difficult. The local market price is often higher than the international and for farmers, if they don’t make money, they aren’t going to produce coffee,” explains Mr Mamo.

Drilling machinery for infrastructure projects in Ethiopia and East Africa | Baraton Trade Plc.

January 30, 2014

Aboma Taye, Managing Director of Baraton Trade Plc
Baraton Trade started 6 years ago with a capital of about 500,000 US dollars and has grown by at least 10 times ever since into one of the leading suppliers of drilling machines for mostly infrastructure projects in Ethiopia, representing 6 foreign brands such as Japanese Furukawa and Airman. The aim now is to set up a solid base for these brands in the whole of East Africa.

Derba Cement: Leader of the cement industry in Ethiopia

January 29, 2014

Haile Assegide, Executive Director of Derba MIDROC Cement (Midroc Group Ethiopia)
Door-to-door delivery, good quality and low price — those define Derba Cement as the leader of the cement production in Ethiopia. While the demand for the cement keeps on growing by 22-23%, Derba also wants to enter the local steel market, open a real estate company and a tiles business — all to solve the problems they encounter on a daily basis.

Ethiopian banking market remains untapped despite fast growth, says Oromia International Bank

January 28, 2014

Abie Sano Mehamed, President of Oromia International Bank
While Ethiopian population reaches almost 100 million the size of the banking market lags behind and remains very small – only 19 banks. Oromia International Bank first opened the doors on October 25, 2008 and since then the bank has experienced rapid growth; opening 26 branches in the first 8 months of operations. For the time being, Oromia International Bank remains the fastest growing bank in the history of Ethiopia.

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