Ethiopian Business Review


Photo: insideethiopia.com

Teklewold Atnafu, governor of the National Bank of Ethiopia, was referring to the pressure that the governmental financial institution, Commercial Bank of Ethiopia (CBE), has been put under due to the new housing development project financing it was mandated to accomplish by the government, at the First National Business Conference which was held at the United Nations Economic Commission for Africa (UNECA) on June 27, 2013. Teklewold, in his response to a question about the possibility of the crowding out effect that the mandate that was given solely to CBE to handle the financial end of the new public housing scheme will have on private banks, also said that the investment is too huge to be handled by private banks (more than ETB 60 billion), and he didn’t think that it would be profitable for private banks to provide mortgage loans of 90 pct, that will mature after twenty years for a mere 7.5 interest rate, half the industry average. He also said no complaint had been forwarded from the private banks on the issue. Also present at the Forum was Prime Minister Hailemariam Desalegn along with ministers and Mulu Solomon, president of the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA).

Wednesday, 17 July 2013 17:45
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When the missionaries came to Africa they had the Bible and we had the land. They said ‘Let us pray.’ We closed our eyes. When we opened them we had the Bible and they had the land.

Nobel Peace Prize winner Archbishop Desmond Mpilo Tutu

Tuesday, 25 June 2013 15:04
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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.

Tuesday, 25 June 2013 12:05
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