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.
Illicit financial flows (IFFs) have become a major concern globally, especially in recent years. Ethiopia is not an exception in this regard. The country loses between USD1.3 billion and USD3.2 billion annually in the form of IFFs. This figure accounts for up to 29Pct of the country’s total international trade or 97Pct of the total aid inflows. There are a variety of reasons for capital flight from Ethiopia, including political reasons, decline in economic stability or stricter capital regulation. However, the most prominent causes in Ethiopia are related to the informal sector, crime, trade mis-invoicing and tax evasion, as EBR’s Ashenafi Endale reports.
Addisu Habba, president of Debub Global Bank (DGB) is the current president of the Ethiopian Bankers’ Association (EBA). He was re-elected by the professional association of bankers in March 2018 to continue in the post for the next three years. Addisu, a married father of two, has had immense experience in the banking sector. He is a graduate of Economics from Addis Ababa University and holds Master’s degree in Banking and Finance from Italy. In the past, Addisu held several positions at the former Construction and Business Bank, including as a credit clerk and internal auditor, before rising to the post of President. He then became president at the Bank of Abyssinia and served for five years. Three years ago, he joined DGB, one of the later entrants into the banking sector. EBR’s Samson Berhane sat down with him to learn more about the challenges and successes of the industry, as well as the activities of EBA.
Manufacturers feel the heat due to high staff Turnover
Staff conditions in factories and industrial parks in Ethiopia have long been a subject of debate. From pay scales to working conditions and safety, many of the issues connected to working in factories have led workers to leave their employment in droves. In addition, a lack of skilled manpower has become another hurdle that factory managers have had to contend with. EBR’s Ashenafi Endale explores.
John Snow, 43, is the General Manager of J&S Metals, the only company in Ethiopia that produces steel roofing nails. J&S Metals exported steel nails to Ethiopia from China for ten years before it established a factory on the outskirts of Addis Ababa five years ago. The company, which currently employees 130 people, produces roof nails. Snow sat down with EBR’s Ashenafi Endale to reflect on the challenges manufacturers are facing particularly in relation with the labour force.
Modelling has been an established career in much of the world for a long time. Involved in advertising, runway shows, and everything in between, models have cultivated a reputation as being well paid and respected in many parts of the world. However, in Ethiopia, modelling was not seen as a career with a future, as was the case with many creative careers. In fact, it is only within the past decade or so that modelling has started to come into the mainstream, with televised competitions, and schools dedicated to the subject. EBR’s Menna Asrat spoke with industry insiders to understand how modelling is developing.
These days, free-to-air satellite television channels are increasing in Ethiopia. Contrary to the picture five years ago when only a few government sponsored television channels were operational, 16 private limited companies have currently received licences to broadcast their programs. However, governmental policy, access to quality content and huge capital requirements are jeopardizing the survival of TV channels especially those that have recently joined the sector as EBR’s Kiya Ali reports.
The Celebrated Marathon Runner
Born in 1965, Belayneh Densamo is one of Ethiopia‘s legendary
marathon runners. Although he won many tournaments since his first international marathon in Japan in 1986, none of them compare to Belayneh’s victory in Rotterdam in 1988, where he broke the world record with a finishing time of 2:06.50. Belayneh held this world record for 10 years, the third longest span without the record being broken since the event was organized at the 1896 Olympics. EBR Adjunct Writer Abiy Wondifraw spoke with him about his victory in Rotterdam in 1988 and his disappointment about not running in the 1988 Seoul Olympic Games.
Ambulances are an everyday sight in Addis, zipping from one side of the city to the other, carrying patients to hospitals around the city. However, even as they carry out their life saving work, they are faced with many obstacles, including Addis’ notorious traffic problem, which delays them from reaching their destinations in a timely manner. EBR’s Menna Asrat explores the problem and what is being done to lessen it.
Reflecting on Drama
Alemayehu Tadesse is one of Ethiopia’s most accomplished actors and playwright. Having worked in television, film and theatre, as well as being a producer and writer, Alemayehu has seen the ups and downs of Ethiopia’s arts scene for two decades. Through his involvement in plays like Babylon beSalon, and radio stories like Efoyta, Alemayehu has become one of the most popular actors and producers in the country. In addition, as one of the members of the committee that reviews new plays submitted to the National Theatre, he is well positioned to reflect on the development of the dramatic arts in Ethiopia. EBR’s Menna Asrat spoke with him about the roadblocks dramatic arts is facing and what the future holds for Ethiopia’s acting industry.
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May 15, 2023
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April 28, 2023