Much of the hype surrounding the G20 finance ministers and central bank governors’ meeting held on February 15-16 in Moscow, the Russian Federation, was dedicated to so- called “currency wars,” which some developing-country officials have accused advanced countries of waging by pursuing unconventional monetary policies. But another crucial issue – that of long-term investment financing – was largely neglected, even though the endgame for unconventional monetary policy will require the revitalization or creation of new long-term assets and liabilities in the global economy.


Having excelled to prominence with her entrepreneurial drive in less than a decade, Bethlehem Tilahun Alemu, 33, has proven her business acumen to the world. From being featured on Forbes’s ‘Top Lists’ repeatedly, to receiving global repute for her innovative enterprise, she has garnered enormous recognition She has also been featured in several international Media including the BBC, CNN, Le monde, and various others. The emerging business leader has much more prospect than what she has proved so far. In her own terms, her success is yet to be proved if she manages to open 100 stores worldwide by 2020.
Bostex PLC, the company she founded in 2004 with her husband and serves as its managing director, produces soleRebels, which is a brand of the eco-sensitive shoe produced from organic Ethiopian materials. The brand has now become trendy and is available through high streets and online retail stores in more than 60 countries. soleRebels has truly become successful, sustainable, and unquestionably world- class for its authenticity, style and value. Amanyehun R. Sisay, Executive Editor of Ethiopian Business Review sat down with Bethelhem to discuss where the company heads, among others: Excerpt:

The BRICS – Brazil, Russia, India, China and South Africa- have agreed to establish a new development bank on their 6th summit staged in Durban, South Africa, on March 27, 2013. There are speculations that 50 billion dollar will be injected in to the new bank as an initial capital. The five countries will contribute equal amount.   Following this announcement economists around the world have been contemplating what it will mean to the global order.


Biru Hudde, 43, is a traditional weaver from Southern Ethiopia. He toil all day in the com- pound in which he also lives in a rental house around Piassa, on the road from Ras Mekonnen terrace to Afincho Ber roundabout. He has been in the profession for the last 30 years.

“This is the business I have been doing to pay for my rent and support a family of eight, 6 children, my wife and myself,” Biru told EBR.

“This is the response of Jupiter Trading to the growing concern of environmental issues” said Melaku Bisrat, managing partner and co founder of Jupiter Trading on an eco friendly paper launching event that was held at Jupiter International Hotel on March 26, 2013. Jupitor partnered with Trident Group and Alia Mohammed Trading- Indian Companies based in Dubai to launch what they called the first eco friendly copier paper in Ethiopia.

The Big Apple International, owner of New York New York Café and Restaurant, which is located on Africa road, is to open a 4 stars standard hotel- New York New York Addis Hotel, which is planned to be operational starting September, 2013, Heran Tesfaye, marketing manager of its sister company, Cosmo Trading told EBR.

The new hotel facility which is built on a land of 669m2 on Bole Road next to ESCAS trading and in front of Food and Agriculture Organization (FAO) will have 50 bed rooms.

ethio telecom’s alleged poor network quality is reported to have slowed the dissemination and maintenance of cash register machines since March 3, 2013, according to the tax information administration directorate of Ethiopian Revenues and Customs Authority (ERCA).

The state monopoly telecom service provider, provides the GPRS service- that creates a wireless connection between a cash register and ERCA’s server. This enables the machines to send transaction reports to the revenue authority.

Another will-be addition to the insurance industry, Debub Universal Insurance S.C., is going to be operational starting may 2013, making it the country’s 15th private insurance company, Birhanu Tesfaye, administrator of the promoters’ executive committee told EBR. Having floated shares since December 2012, the promoters hope to raise Br 50 million. Most of the promotors had prior experience of organizing the foudation of the Debub Global Bank. They were planning to name the company Debub Global Insurance. However, National Bank of Ethiopia (NBE) didn’t allow them as it would create conflict of interest with Global Insurance.

Habesha Constructions and Materials Development (HCMD) will hand over its first round of homes to customers in September, 2013, Eng. Bekele Gadissa, general manager of the company told EBR. “384 houses will be ready for a hand over,” said Bekele.

A number of hotels are either opening up, expanding or set to join the industry in this fiscal year, according to industry insiders. As the city becomes a major travel destination the business is becoming lucrative. And one of the new additions that joined the industry is Aphrodite Hotel. The 4 star hotel made the latest entrance to the hospitality industry with inaugural ceremony held in its new facility on March 22, 2013. The hotel which is owned by Desalegn Mengistu, a name normally associated with oil seeds exports is located around Kazanchis. The facility is built on 538m2 area of land and has 52 rooms divided in to executive, deluxe and twin standard rooms, according to Dawit Girmay, front office and marketing division manager. The hotel which was established with a capital of 60 million Br has created job opportunities for 115 people.

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