Ethiopian Business ReviewIn 2017, the reserves of many African countries showed increases due to better commodity prices. In particular, increased oil and export earnings helped reverse the downward trend in Africa’s reserve position in 2016. Africa’s external reserves declined by 9.4Pct in 2016 to USD396.63 billion, while in 2017 it showed a 6.3Pct increase reaching USD421.53 billion.
Samson BerhaneCommercial banks in Ethiopia are currently finding themselves with more liquidity than they can work with. While this is a good moment for those who have been desperately looking for credit, it has pushed commercial banks to sit on resources that come with a high cost. As a result, many banks are being forced to find alternatives to invest their extra liquidity, including introducing mortgage schemes with various real estate companies. EBR’s Samson Berhane spoke to bankers, experts and businesses to shed light on the matter.
A consultant and attorney at law, Tadesse Kiros has had decades of experience in a wide range of legal expertise such as taxes, mergers and acquisitions, and energy as well as infrastructure finance, among others. Tadesse served as deputy chief justice of the Supreme Court of Ethiopia under the Transitional Government of Ethiopia. Prior to that he served as a member of the Legal Committee formed under the Office of the President of the Transitional Government between 1991 and 1992. He later established the Tadesse Kiros Law Office, one of the most successful de-facto law firms in the country, and a leading service provider, both in coverage and organizational capability.
Ashenafi EndaleStreet vending has become a part of everyday life in Addis. On almost every major pedestrian road, there are many young people displaying their wares, from electronics, to shoes, and calling out to city residents to visit them. While these products are cheap and convenient for many, street vending is becoming the gathering place for unemployed youth who move to the cities looking for new opportunities. At the same time, the sourcing of the products is feeding into the problem the country is experiencing with contraband, as many of the items sold on the streets are illegally smuggled into the country. Addressing these issues is a big part of the city administration’s agenda, as EBR’s Ashenafi Endale reports.
Abiy WendifrawCultural games have been played for many years in Ethiopia. They have been passed on from generation to generation. While some sports are more indigenous played in one area or community others have a nationwide coverage. Although their benefits are immense, traditional sports still have little attention in Ethiopia as EBR Adjunct Writer Abiy Wondifraw reports.
Menna AsratEthiopia’s Flirtation With Hard Drugs
Issues with drug abuse are not new to developing countries. Often affecting the poorest and youngest members of society, hard drugs are starting to become a risk to public health. In Ethiopia, hard drug use was almost unheard of until the past few years. Nowadays, it is more common to see young teenagers on the street drinking or abusing solvents out in the open. However, the ‘traditional’ drugs such as khat and alcohol are not the only substances being abused by young people anymore. Foreign drugs, such as cocaine and ketamine are becoming more widely consumed, especially amongst young people. EBR’s Menna Asrat reports
Efrem Seyoum Looks to the Past for Inspiration
Efrem Seyoum is considered one of Ethiopia’s greatest living poets. His fans and critics alike look forward to the release of each of his works, with copies being snapped up from bookshops and vendors very soon after they are published. His experiments with form and content have revolutionized the poetic landscape of Ethiopia, paving the way for countless young poets to revitalize the literary scene in Addis. The 39 year old is also interested in the country’s ancient poetic and literary traditions, an interest which informs his choice of project, which includes translations from Ge’ez to Amharic, as well as short stories and plays. EBR’s Menna Asrat sat down with Efrem to find out more about his process and inspirations.
Nahom GedeonInspecting through the maps of Addis Ababa from the 1880s up to today’s Google satellite images, it is impossible to avoid noticing how the city has handled its expansion and morphological transformation within a century. And in what way it dealt confrontations between modern planning and traditional settlements.
Dawit Arega (MBA -IB)In the past, we hardly have women on boards in Ethiopia. It is true that the developed nations report that they are committed to promote diversity. But that commitment has not been translated in to meaningful progress. Prime Minster Abiy Ahmed (PhD), however, defied the odds by appointing women to make up half of his cabinets. This huge turnaround caused a spark in a country where men have a mounting presence in top government positions. Undoubtedly, this has a far reaching consequence with regards to solving the boardroom diversity challenge.
Tsegaye Tegenu (PhD)Inspired by the current political change in Ethiopia, economists, political scientists and ordinary people have started to search for a new strategic economic plan for the country. After reading every thought-provoking suggestions made by others, I feel discomfort to remain silent on the subject which I closely studied. The present and future economic situation of the country is such that it compels us to spark off a debate on issues related to strategic economic roadmap; it is high time now to embrace a new direction.
