imported 2024-03-17 17:43:08
Today, MIDROC Ethiopia Technology Group has 20 companies and is involved in different sectors including mining, agriculture, real estate, construction, manufacturing, services and education.
“The agribusiness is a top priority for the public sector as well as the leather and textile industries,” said Getachew Regassa, Secretary General of Addis Ababa Chamber of Commerce.
Ethiopian government has various packages of incentives for investors who think of Ethiopia as their next investment destination.
Ethiopia Sector Analysis
Ethiopia’s export commodities and export markets: Coffee, gold and fluctuating prices
‘Export is a matter of life and death for us!’—say the government officials in Ethiopia. Ethiopia is exporting more than 1,800 commodities to over 45 countries across the globe. Led by coffee—the country’s flagship export item that accounts for about 65% of the total export—, a number of agricultural products (e.g. oil seeds) and gold have also been in the forefront of export for years.
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 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.
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 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.
Zenawi Mesfin, General Manager of Intercontinental Addis Hotel
Bringing the US hotel industry experience into Ethiopia, Mr Mesfin left a significant footprint in transforming Intercontinental Addis Hotel into a top quality 5 star hotel, which is currently leading the hotel industry in Addis Ababa.
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…
