Ethiopian Business Review

Ethiopian Business Review

Ethiopian Business Review

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Fuelled partly by exchange rate depreciations and widening fiscal deficits, average inflation across Africa stood at 7.2Pct in 2017, increasing from 5.6Pct in 2016, according to the African Trade Report published by the African Export-Import Bank  in July 2018. However, there was wide variation across countries. For instance, inflation remained high in several economic giants such as Egypt, Nigeria and Angola. On the other hand, countries like Swaziland, Mali and Cameroon exhibited the lowest inflation rates in 2017.

Hyundai is More Than A Brand

Friday, 15 February 2019 03:00 Published in Investment

With our Cars customers have Peace of Mind

Marathon Motors, established in 2009, is the leading importer of Hyundai brand cars into Ethiopia. Recently, after extensive talks and collaboration with Hyundai Korea, the importer opened a car assembly plant in the country with an investment of half a billion birr. The first cars rolled off the line in October 2018. Even though production has been relatively slow so far, the plant has a full production capacity of 36 cars a day. Hyundai and Marathon are making cars available to the Ethiopian market that have been specifically engineered for the country’s climate, altitude and driving conditions, without compromising safety features. However, Marathon’s journey to building the plant, and indeed the whole company, has not been an easy one. Their path has been dogged by issues of electricity provision, government support and foreign currency shortages, as have many businesses in the country. The Company’s founding CEO & Managing Director, Melkamu Assefa, discusses the decade journey of the company and the brand he represents.

“We should not mix politics and sports.”

He said this on January 1, 2019 concerning the refusal of football clubs in the state of Tigray and Amhara to play in each other football fields since the Ethiopian Premier League started this year. “Sport should be governed by its own rules and regulations.”

8th Year • Jan.16 - Feb.15 2019 • No. 70