Sunday, 18 August 2013 20:34 Published inArt & Life

Have you ever wondered if Ethiopian music albums are sold in the international market, where foreigners purchase them for a high price? If you are still wondering, this piece of article about the Ethiopiques series is for you. 

5.2 Billion

Sunday, 18 August 2013 18:37 Published inStatistics

In Birr is the amount of money collected from the public, out of the pledged 10.2 billion for the construction of the Grand Ethiopian Renaissance Dam (GERD), as reported by the National Council for the Coordination of Public Participation. The collected money has covered 23pct of the expenses so far. The report by the Council, which held its annual meeting, which was closed to the media other than the public owned Ethiopian Television at Sheraton Addis on August 2, 2013, stated that 24pct of the construction of the project is completed. This progress was 13pct last year at this time. By the end of August, the progress of the construction of the dam is planned to be 26pct. GERD, whose construction started on April 2, 2011, will have a power generation capacity of 6000MW and will consume USD4.8 billion upon completion in 2017.

Capitalists for Inclusive Growth

Sunday, 18 August 2013 17:51 Published inView Point

In 2012, the Pew Research Center found that 85pct of self-described middle-class adults in the United States believe that it is more difficult now than it was a decade ago for people like them to maintain their standard of living. The share of Americans who say that they are in the lower-middle or lower class has risen from a quarter of the adult population in 2008 to around a third today. And Pew’s research found that only 63pct of those surveyed believe that hard work leads to success, down from 74pct in 1999.

Seeing how the newly constructed eight lane road on Africa Avenue is swamped with cars at rush hours gives an indication as to what is happening in the city’s car market. Every day more than 40,000 cars of different models and brands pass through this corridor alone. Yet this is not unique to this specific street. Every major road in the city is seen crowded with cars almost all the time. As the number of urbanites who are joining the ranks of the middle class is increasing so do the number of cars.

Liberalization: The Only Way Out

Thursday, 15 August 2013 00:55 Published inInterview

Many obstacles challenge foreign trade in Ethiopia- Logistics and transportation being the major bottlenecks. As much the logistics and transportation sector has undergone reforms, the sector continues to pose a critical challenge for the country’s foreign trade. In this exclusive interview, Berihun Mekonnen, Ethiopian Business Review’s senior editor sat down with Kassahun Abberu (PhD), Director of Transit, Shipping and Transport at Akakas Logistics PLC, a company which he cofounded in December 2000, to discuss the challenges and remedies for the complications in the sector, among other issues.Born in Dessie in 1958, Kassahun received his PhD in Transport Economics from Budapest University of Economic Sciences and Public Administration in 1992. His decades of portfolio include responsibilities at technical and managerial levels at the Federal Express, Hungary, Nib Transport Company, Ethiopian Amalgamated Ltd and others.

Kassahun argues that liberalizing the Logistics and transportation sector would solve the current logistics problems, which has been exacerbated as the government monopolized the sector: Excerpt:

It has been widely recognized that the Ethiopian international trade has been in trouble for so long despite the growth it has been registering. The time consuming and costly customs clearance process, the weak and poorly coordinated logistics and transport services and the underdeveloped warehouse and inspection mechanism among others have been obstructing the performance of the sector.

Cashin' net Painting The Emerging Demand for Local Arts

Wednesday, 14 August 2013 23:23 Published inFocus

Seeing Tadesse Mesfin’s painting – Kelem Kebiw [The Painter] at the age of 16 was a life changing experience for Henok Getachew. Since then, he was immersed in art. Born in 1976, Henok later on went to the Alle School of Fine Arts and Design and graduated with a certificate in General Art in 1997. Since then, Henok has painted dozens of paintings, mainly on the walls of new hotels and restaurants in town and worked for beverage companies as a sign painter. He started doubting his artistic acumen and whether he will be able to live off his promotional paintings when digital art and signage took over the pictorial advertisement business.

Prime Minister Hailemariam Desalegn, in his first official visit to Kenya in November 2012, elaborated how it will be profitable for Kenyans to invest in Ethiopia. During this meeting with the country’s business people, he mentioned some of the benefits they will reap if they engage in Africa’s second populous nation. He mentioned the natural wealth and cheap labour in the nation to sway his audience. Among other things, he stressed that the country has one of the cheapest electric fare in the world, making it an ideal place to establish a manufacturing plant. But what the Premier short fall of disclosing to the potential investors was how his country is also among the nations where power interruptions and sporadic blackouts and brown outs (reductions in voltage) are all but common, and in fact part of everyday life.

British oil and gas explorer, Tullow Oil has confirmed commercial viability of Kenya’s oil and announced that it will start negotiations with the Government on development and production.

Single Tourist Visa for Rwanda, Uganda, Kenya

Wednesday, 14 August 2013 19:37 Published inRegional News

Rwanda, Uganda and Kenya agreed to begin issuance of a single tourist visa, aimed at easing and promoting tourism among the three states. The resolution to issue a single visa to tourists came after delegates from the three countries held a two-day long meeting in Kigali on August 1 and 2.

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