List of all articles filed under “africa-reports” category.
Jemal Ahmed, Chairman of Horizon Company (Midroc Group Ethiopia)
Midroc Group started about twenty years ago when there was no foreign investment in Ethiopia. Sheik Mohammed Al Amoudi’s committed to Ethiopia to trigger the development and create job opportunities. Midroc is today involved in numerous sectors of Ethiopian economy…
Martha Adugna, Owner and General Manager of The Residence Suite Hotel (Addis Ababa)
Despite being in operation since late May 2013, the Residence Suite Hotel (Addis Ababa) reached full occupancy in just four months. This niche hotel offers both short- and long-term accommodation in its 19 spacious luxury rooms.
Ethiopia Sector Analysis
Ethiopia: Construction materials scarcity no longer a challenge, but there is a need for sophisticated construction materials
The scarcity of construction materials was also among the serious challenges for the construction sector in general which also faced the real estate sub sector a few years ago. The coming of Derba Cement – the major cement supplier (52% market share) with a competitive price – has solved the problem, although GIFT Real Estate argues for using ‘sophisticated’ construction materials.
Ethiopia Sector Analysis
Ethiopia: Addressing the housing demand through Integrated Housing Development Program
Through the Integrated Housing Development Program – a housing program worth of Birr 15.4 billion which is supported by the World Bank – Ethiopian government has been working to reduce slums in urban areas of the country by 50% as part of its Millennium Development Goals (MDGs).
Gerard Hounkponou, Chief of UN Conference Centre (Conference Coordination Unit, Conference Services Section)
The UN Conference Centre in Addis Ababa has a particular mandate which is not only attending to government conferences but also to the great number of conferences in relation to NGOs and civil society organizations. In partnership with the Ethiopian government, the goal is to market Addis Ababa as a conference hub in Africa, thus exposing local investment opportunities and attracting new flow of investments into Ethiopia.
Tsedeke Yihune, Owner of Flintstone Engineering
Established in 1991, Flintstone Engineering has been in the business of engineering for construction for the last 22 years. 5 years ago the company moved into the real estate business. Flintstone Engineering’s revenue increased sevenfold over the last 5 years.
Ethiopia Top Stories
Real estate in Ethiopia growing by 25% | Role of private real estate companies in Ethiopia
The increasing number of emerging middle incomers has increased the demand for real estate development. A 2010 study by the Africa Development Bank shows that Africa’s middle class has increased to 34%, an increase of 27% from the 1980s, and Ethiopia is not considered to be an exception. Given that the government cannot address the need for the increasing demand for real estate on its own, it allowed a number of local private investors to become the major actors in the development of real estate in Ethiopia.
Meaza Ashenafi, Chairperson of Enat Bank
In Ethiopia, private banks has been flourishing since 1994. The story of Enat Bank is indeed very inspirational. “We wanted to change the narrative; we wanted to change the story about women and finance, and women and economic empowerment. So it was eleven women who came together and decided to start this bank,” explains Meaza Ashenafi. “It became a brand and it became quite powerful because in Ethiopia, the literal meaning of Enat is “mother” but it goes beyond that. It’s about loyalty, care, embracing, foundation, and even about earth.”
Getachew Regassa, Secretary General of Addis Ababa Chamber of Commerce and Sectoral Associations
“Ethiopia has shown serious growth in the last 10 years. Just last year we had a 9.7% GDP growth. There is also a lot of development of infrastructure going on and a vibrant business interaction in the city. The results of the economic growth that we are seeing are stimulating the business, trade and service industry,” notes Mr Getachew Regassa.
Suleiman E. Alazzabi, Managing Director of National Commercial Bank (NCB)
National Commercial Bank expects 5 to 10% growth of the Libyan banking sector in 2013/2014. As a part of their strategy, National Commercial Bank plans to establish a financial leasing company that will merge the traditional commercial side with the Islamic one, and an IT company. The Bank’s vision is to be the market leader in terms of transparency, quality and quantity of products. The MD is sure the National Commercial Bank will differentiate from other Libyan banks in terms of services and transparency during 2014/2015.
