In the past, Africa’s cities have been growing, invisible from the global community. However, in recent years, some African cities have started becoming more noticeable on the world stage. This is partially due to the growth of private wealth, making Africa’s cities more vibrant and filled with diverse economic activities. Estimates suggest that more people are expected to migrate to Africa’s cities in order to access economic opportunities and better living standards in the future.
Ethiopia’s Economic Slowdown Takes A Toll
Ethiopia been praised by the global community for its outstanding economic performances for decades. Although the country has registered one of the highest economic growth rates in Africa, the economy has been slowing down in recent years. In December 2018, the International Monetary Fund announced that Ethiopia’s economic growth dipped to 7.7 pct in 2017/18, due to political uncertainty and severe foreign exchange shortages. Now, Ethiopia’s economy seems to be at a crossroads. While the decline of exports, a rise in prices, a drop in construction activities and the disruption of main trade routes signal that the economy is indeed slowing down, experts are worried that decreasing state involvement, coupled with the drop in government spending, will make the problem worse, as EBR’s Samson Berhane reports.
Tewodros Shiferaw, 44, is a businessman with a huge appetite. The father of four lived in Japan and China for 12 years working as an exporter and importer, among other activities. In 2008, he came to Ethiopia and established Rosetta General Business, a company engaged in real estate development, hotels, import and export as well as media and communication. Tewodros, who is in the real estate sector, built 142 villas and transfered them to the owners on time despite the huge inflation at the time. However, not all his endeavours have been successful. In fact, two of his hotel projects in Addis Ababa and Hawassa didn’t materialise because the authorities couldn’t give him land on a lease basis. He is now more visible in the broadcasting industry. In fact, Tewodros was a partner at ARTS and a year ago acquired Nahoo TV, a privately owned entertainment TV channel operating in Ethiopia. EBR’s Samson Berhane sat down with Tewodros to learn about his successes and failures
The Fate of the Hotel Industry After Turmoil
The hotel industry in Ethiopia has been reeling over the last couple of years, following political unrest in various parts of the country, and a drop in tourist numbers. Room occupancy rates dropped, and hotels found themselves losing money hand over fist. But now the industry is starting to revive, as political stability returns to the country. EBR’s Ashenafi Endale spoke with some in the industry to find out what’s next for hospitality in Ethiopia.
Adil Khan is the managing director of AMS Hospitality Group, a privately held provider of hotel brands, solutions and services. Established in 2008, AMS’s brand portfolio spans a range of hospitality segments, from premier economy, to select service properties, mid-scale hotels and resorts. AMS has been managing the Hub Hotel, which was opened in December 2018 in Addis Ababa. EBR’s Ashenafi Endale sat down with Khan to learn about AMS’s activities in Ethiopia and elsewhere.
