List of all articles filed under “africa-reports” category.
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.
Mohamed Raied, Chairman of Al-Naseem Food Industries
“Everyone knows it was difficult for 40 years, especially difficult for the private sector in Libya. I had started with a food stuff trade in 1989 on a small scale with one shop in Misrata, then had an ice cream factory in 1993 and first I had only a basic ice cream machine that would produce 2,000 pieces/cups,” recalls Mohamed Raied. Today, Al Naseem is trying to be number one in Libya in producing dairy products.
Khaled Al Bakory, CEO of Privatization and Investment Board (PIB)
Most of companies from all over the world are concentrating on investments in the oil sector of Libya. However, the country has, according to Al Bakory, other attractive investment opportunities, particularly in the health and transportation sector. The aim of Privatization & Investment Board of Libya has been to attract variety of investment projects, including tourism and transportation.
Libya Sector Analysis
Large Electricity and Desalination Projects to Upgrade Libya’s Ageing Infrastructure
Power was a priority once the fighting stopped, with the repairing and improving the electricity grid a key are of focus. According to estimates, the grid was damaged to the tune of US $1 billion. Repair work began in September 2011 and by the end of 2013 over 70 percent of the power network had been repaired.
Libya Sector Analysis
Libyan transportation sector: 2 billion Libyan dinars to be spent on transport projects in Libya
Speaking with Marcopolis, Addul Qader Mohammed Ahmed Sabah, Libya’s Minister of Transportations noted, “Under this temporary government we have a budget of about two billion Libyan dinars for the three sectors (aviation, maritime and ground travel).”
Libya Sector Analysis
Libyan infrastructure sector to meet local demands and set conditions for foreign businesses
Libyan infrastructure sector needs a makeover to meet local demands and set conditions for more foreign business locating operations in the new nation.
