Kifiya Sets to Generate Close to 2 Billion Birr Revenue

Thursday, 21 February 2013 09:22 Published in Focus

Kifiya Financial Technology PLC, the company behind the unified billing system project, is set to make close to 2 billion birr revenue in three and half years, the expected life span of the first phase of the project. The company announced on January 17 that preparation has been finalized to commence operation next month. The project is implemented by the Ministry of Communication and Information Technology (MCIT), the three utility companies: Ethiopian Electric Power Corporation, ethio telecom and Addis Ababa Water and Sewage Authority, and Kifiya Financial Technology PLC.

Mining Gears Up for a Take Off

Thursday, 21 February 2013 06:48 Published in Focus

Dubbed as “a frontier for exploration in Africa” by Richard Chase, CEO of Nyota Minerals Ltd, the British minerals giant, Ethiopia is getting preeminence in the mining sector and has become a destination for big multinational mining companies. 252 companies had so far taken mining license, according to the Ministry. The sector was also able to earn 1.5 billion dollar during the first half of the growth and transformation plan. Most of these earnings came from gold, ornamental stones and tantalum. 

Professional Football Business: Paving its Way in Ethiopia

Wednesday, 20 February 2013 11:49 Published in Sport Biz

Mengistu Worku, the late renowned Ethiopian Footballer, ones said, ‘‘we used to play for the passion of the sport not for the money that we get from it’’ and he reminisced about how the late Yidnekachew Tessema, refered by some as the father of Ethiopian football, used to give him ten or twenty five cents for transport after training. Such stories were common in the amateurish, early stage of the ‘beautiful game’ in Ethiopia. In those days, formal organization and structure were absent, but recently, following the trend in other sectors of the economy, some changes are occurring in the Ethiopian football, though it still has a long way to go before becoming fully professional.

Youth flees Amid Robust Economic Growth

Wednesday, 20 February 2013 09:38 Published in Society

Addisu Menegesha, 29, posed for a photo infront of a white board at Esmile Internet Café in Autobis Tera district of the capital, Addis Ababa.

Addisu was having his picture taken for an electronic form to enter a United States Government run visa lottery program. In this lottery program, commonly known as Diversity Visas (DV), people worldwide enter their applications online. US officials say a computer-generated, random lottery drawing picks the winners.

Yonas Gebrekidan 38, whose name has been changed, is one of the printer cartridge importers in Addis Ababa. He has been doing this business for the past five years. As the business has been expanding, he has lately opened shops in regional towns. But recently, his business has been seriously challenged. “Business has come to a ground halt” he said. “The banks have not been allowing enough foreign currency to import the necessary materials we need.”

L’industriale, 2011

Tuesday, 19 February 2013 13:19 Published in Art & Life

Giuliano Montaldo, born in 1930, is the anthropomorphic transliteration of legend and law. Some refer to him as the “Lion King” of Italian cinema; still able to scratch, stun and roar like few others today. In the Film L’industriale (The Entrepreneur), Montaldo portrays a modernistic socio-economic and emotional crisis using classical staging.

In the first issue of this magazine, I have attempted to present the political economy of policy making in Africa and the implication of that for private sector development in the continent. This was based on a recent study by the United Nations Economic Commission for Africa (UN ECA) study. In this issue, I will finalize the commentary by highlighting the empirical evidence about the implications of policies designed in such a manner on private investment in the continent using the same study. The ECA study is an attempt to examine the impact of macroeconomic policies and investment climate for private investment in Africa. Based on this analysis, the study attempts to draw lessons so as to come up with policy implications that could help to strengthen the role of private investment in Africa As I have noted above, the ECA study commenced by showing that macro policy in Africa is generally informed by the political economy of policy making which I have briefly summarized in the last issue.

Nurturing Enterprise Culture

Tuesday, 19 February 2013 11:56 Published in View Point

EMPRETEC Ethiopia Business Society (EEBS), a society established in 1996, organized a half day workshop at the UN ECA to mark “The Global Entrepreneurship Week (GEW)” for the second time, last November in Ethiopia. GEW is celebrated around the world with activities aimed at promoting the culture of Entrepreneurship. It is an initiative by former British Premier Gordon Brown and Carl Schramm (PhD), a Professor at Syracuse University of USA, who was once named by The Economist Magazine as the “evangelist of entrepreneurship.”

Radisson Blu Appoints New GM

Tuesday, 19 February 2013 11:56 Published in Focus

The Carlson Rezidor Hotel Group, which runs the Radisson Blu Hotels, appointed Christopher Pike, a British citizen who had been serving as General Manager of the Radisson Blu Hotel in Birmingham since June 2010 as its General Manager for its Hotel in Addis Ababa. Christopher Pike replaced Guillaume Massiera who has been running the hotel since February 2010. Massiera has left to establish his own business.

The share of Boeing, the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems, fell by 2.5 pct, on January 18, 2013 according to AFP.

This happened following the frequent incidents the Boeing 787 Dreamliner encountered. Some of the problems include ignition of its battery pack on Japan’s All Nippon Airways, the largest operator of the plane, shortly after the flight landed at Boston’s Logan International Airport. Fuel and oil leaks, crack in the cockpit window and a computer glitch were also found. These erroneously indicated a brake problem. Following this, the United States Federal Aviation Administration (FAA) has grounded all dreamliners in its jurisdiction, on Jan, 18. This follows another incident in Japan. All Nippon Airways said a cockpit message showed battery problems and a burning smell were detected in the cockpit and the cabin.

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