Ethiopian Business Review

Placing Ethiopia in the Continental Organization

Tuesday, 25 June 2013 14:36 Published in Commentary

While celebrating the 50th anniversary of the OAU/AU (Organization for African Unity/African Union), it is imperative to critically examine the actual efforts exerted by member states in establishing and maintaining the continental body. What has come to pass in the history of the organization truly reflects the extent and level of commitment of African statesmen. Whatever credit is accorded to personalities or governments, or whatever criticisms are directed against these parties, in a way it represents the actual nature of the joint forum Africans have created. In this regard, the process of creating and maintaining the OAU/AU represents the reality on the ground and demonstrates what Africans have managed to accomplish. Here a brief attempt is made to assess Ethiopia’s role in all this.

Pan Africanism for the 21st Century

Tuesday, 25 June 2013 14:31 Published in Commentary

The Golden Jubilee celebration of an institution like the Organization of African Unity (OAU) and later on the African Union (AU) is special event. For Africans and non-African partners, it has a greater public importance. It offers an occasion for celebration, but also a unique opportunity for critical introspection and collective reflection on the journey of Africa in the past half century. More crucially, such an opportunity needs to be seized to set a clear vision for Africa, craft a common and widely shared mission to realize this vision and mobilize the necessary commitment and resources to implement it.

The Man with 900 Million Dollars

Tuesday, 25 June 2013 14:05 Published in Interview

The African Development Bank (AfDB) Group is Africa’s premier development finance institution with AAA rating. The bank comprises three distinct windows: the African Development Bank, the African Development Fund and the Nigeria Trust Fund. In this interview, Mikias Merhatsidk, Editor-in-Chief of Ethiopian Business Review, sat down with Mr. Lamin G. Barrow, resident representative of the Bank in Ethiopia to discuss the Bank Group’s role within the general context of Africa’s development and that of Ethiopia in particular. Mr. Barrow holds a graduate degree in Economic Policy from Boston University, USA and has worked in different capacities at the Bank. He took his present post in Ethiopia in October 2009. He now serves as co-chair of the Development Assistance Group (DAG) of donors in Ethiopia. The Resident Representative talks about the Bank’s involvement and focus areas in the country, the USD 900 million the bank earmarked for the Ethiopian private sector and the government’s economic policies, among others, Excerpts:

Economic Diversification: A Must for Inclusive Growth

Tuesday, 25 June 2013 13:47 Published in Focus

The beginning of the 21th century has shown promising figures regarding the economic growth of the African continent. The World Bank’s 2013 Economic Report on Africa; with the theme- Making the Most of Africa’s Commodities: Industrializing for Growth, Jobs and Economic Transformation- rightly tells the continent’s notable economic performance with its own remarks on limitations of the growth to be translated into jobs and social development.

Africa’s Economic Performance in 2012

Tuesday, 25 June 2013 12:13 Published in Statistics

Africa’s economy remained strong to register a 5.0 pct growth in 2012. The region’s economic growth was reported to be promising as it came amidst slowing world economy. Africa’s economic growth has benefited from the improving political unrest in the northern region of the continent, elections were hold and normal business activities have begun to return in Egypt and Libya.


Tuesday, 25 June 2013 12:09 Published in Statistics

Number of people who will be living in extreme poverty in Sub Saharan Africa by 2015, which will be 42.3 percent of the region’s total population. The number was 289.7 million in 1990, 56.5 pct of the population of the time, according to a Global Monitoring Report 2013, jointly produced by the World Bank and the International Monitory Fund. The East Asia and Pacific region has seen significant change in the last quarter of a century. More than 926.4 million of people lived in extreme poverty in 1990, 56.2 pct of the population of the region, where as there will only be 114.5 million people living in extreme poverty in 2015, 5.5% of the population, according to the report. This report, which is an annual report card on the world’s progress toward the Millennium Development Goals (MDGs), is the 10th edition and was presented at AAU on May 7, 2013.

“Don’t hinder it; prepare for it,”

Tuesday, 25 June 2013 12:05 Published in Quote

Said Vandana Chandra, a senior economist at the World Bank referring to the growing trend of rural-urban migration that followed as a result of reducing poverty rate in urban areas of Africa and the world in general. The Economist made the remark on an event organized in Addis Abeba University (AAU)’s Eshetu Cholle Hall on May 8, 2013 for the launching of the 2013 Global Monitoring Report (GMR), which was compiled by the World Bank and International Monetary Fund. GMR is an annual report card on progress of countries of the world on Millennium Development Goals. The event that was organized by the World Bank and the country’s oldest university brought together Guang Z. Chen, chair and country director of World Bank; Admassu Tsegaye (PhD), president of AAU, Tassaw Weldehana (PhD), dean of College of Business and Economics other staff and students of the university. Also a discussant on the event was Alemayehu Seyoum (PhD), president of the Ethiopian Economic Association.

Can Africa Break Its Resource Curse?

Tuesday, 25 June 2013 11:59 Published in Commentary

New discoveries of natural resources in several African countries – including Ghana, Uganda, Tanzania, and Mozambique – raise an important question: Will these windfalls be a blessing that bring prosperity and hope, or a political and economic curse, as has been the case in so many countries?

Recently, South Africa has condemned The UK’s decision to stop giving aid to the country beginning in 2015. South African Finance Minister, Pravin Gordham criticized Britain’s decision saying “This is such a major decision, with far-reaching implications on the projects that are currently running, and it is tantamount to redefining our relationship.” This response given by the richest economy in the continent with four hundred something billions of dollars in GDP about the stoppage of a lousy thirty million dollar aid can be a good example how Africa is addicted to aid.

Pan Africanism and African Renaissance

Tuesday, 25 June 2013 11:49 Published in Commentary

Pan Africanism and its modern version, African Renaissance are popular themes in contemporary African discourse. The year 2013, declared as the year of Pan Africanism and African Renaissance, marks the 50th anniversary celebration of the formation of the Organization of African Unity (OAU), now the African Union (AU). What does Pan Africanism and African Renaissance really mean and what are the prospects for their consolidation in the future? Let us start with understanding Pan Africanism and then the link between the two.

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