October 15, 2020 – Ethiopian Business Review

The Psychological Plight of the Pandemic on Ethiopian Athletes

The Coronavirus pandemic has become a guest that overstays its welcome. The world first thought that the virus would be an issue for three to five months but it has gone beyond its ninth month now without losing its grip on the world. The measures taken by governments and institutions have begun to loosen up despite the rapid spread of the virus around the world. However, major national and international events in athletics and other sports have been cancelled indefinitely. The isolation and cut off from regular life has its own impact on the psychological wellbeing of athletes. EBR’s Abiy Wendifraw looks into the matter.

The past three years have been a time of considerable social unrest and political instability in Ethiopia. Once the Tigray People’s Liberation Front (TPLF) led coalition of the Ethiopian People’s Revolutionary Democratic Front (EPRDF) made way to Abiy Ahmed’s reformist government, social unrest has sprung up in all corners of the country. A large number of people have lost their lives while millions became internally displaced.

One fourth of the global currencies have values of more than 100 units per dollar, according to UN Operational Rates of Exchange on October 01, 2020. Most of the countries that have strong currencies against the dollar are liberal economies that have positive relationships with Western countries and the Breton woods institutions, while economies that have the weakest currencies are by large labeled as socialist countries.

Departing Chinese Ambassador to Ethiopia, Tan Jian

Shortly after arriving on December 4, 2017, Ambassador of the Peoples’ Republic of China to Ethiopia, Tan Jian became a dashing figure in Ethiopia’s development activities. Although his tenure matched a period of turbulence in Ethiopia, Tan Jian has had a successful diplomatic stay. His tenure overlapped with the political transition in Ethiopia and the COVID-19 pandemic. Yet, he succeeded in relentlessly pushing for the timely execution of projects, attracting more Chinese investment, and coordinating the fight against the pandemic. He is a popular media figure who reveals the Chinese side of stories, which he argues, are otherwise stereotyped by the West dominated media. EBR’s Ashenafi Endale sat down with him ahead of his end of tenure and departure at the end of September 2020.

Why it Remains a Daunting Task

Historically, fish has played an important role in food security for many countries. Globally, it contributes 15-20Pct of current total animal protein intake requirements. Ethiopia is among nations with a vast potential in this regard. The country has many lakes and rivers for fish production and various species exist in these bodies of water. But the current annual production—57,360 metric tons—only satisfies a fraction of the demand. Instead of becoming a commercialized and thriving industry, the fishery sector in Ethiopia still remains a small scale and artisan-oriented industry. EBR’s Kiya Ali investigates.

William Asiko came to the helm of the Rockefeller Foundation Africa Regional Office just in 2019. The foundation’s Managing Director is, however, not new to Africa’s development issues.

Asiko started his career as an attorney in the external resources department of the government of Kenya. He has worked for The Coca-Cola Company at various positions and in several countries including the USA, Morocco, UK, Kenya, and South Africa. He was also the Executive Director of Grow Africa, which was jointly established by the World Economic Forum, the African Union (AU), and the New Partnership for Africa’s Development (NEPAD) to accelerate private sector investment into African agriculture. Asiko was also the CEO of the Investment Climate Facility for Africa (ICF), a pan-African development organization.

Asiko earned a law degree from the University of Nairobi in 1987 and an MBA from Emory University’s Goizueta Business School in the United States in 2005. EBR spoke to the Managing Director of the Rockefeller Foundation Africa Regional Office on various issues via zoom from his office based in Nairobi.

Ethiopia, which has undergone political turbulence in recent years, has now fired a direct shot at the nation’s lingering macroeconomic imbalances by unveiling a new generation of currency notes on September 14, 2020. In addition to the replacements of the old Birr 10, 50, and 100, a new 200 Birr note was also issued by the government. The five Birr note remains unchanged and will soon be turned into a coin. While the government stress that the introduction of new currency notes is part of the ongoing economic reform in the country, critics argue the move is rather driven by politics and an assertion of power. EBR’s Ashenafi Endale explores.

Globally, the manufacturing and use of electric vehicles (EVs) is growing as governments increasingly introduce stricter environmental protection directives. However, electric vehicles were not even a topic for discussion in Ethiopia until recently. The trend has shifted quite fast as a number of companies have started to assemble EVs despite the absence of appropriate legal framework to promote and regulate the assembly or manufacturing and use of the vehicles. The situation has left assemblers and users with obstacles. EBR’s Ashenafi Endale explores.

Ethiopia is among developing countries that have achieved fast and sustainable economic growth in the last decade, mostly through massive public led investment. Despite this, the domestic saving rate remains low, relative to the investment rate. As a result, the country is forced to depend on debt to fill the gap. Currently, the gross domestic saving to GDP ratio in Ethiopia is 22.3Pct, with the gross capital formation to GDP ratio at 37Pct. In fact, the gap between saving and investment is now wider than it was 15 years ago. As the government envisions increasing the saving ratio to 30Pct of GDP in the next 10 years, EBR’s Ashenafi Endale explores the reasons for the low domestic saving rate and offers solutions.

With the coronavirus pandemic outliving its expected short term stay in the world, early international measures of total and partial lockdown seem to have abated. Mankind has tapped into its age-old skill of adaptation to revert back to normal life under a pandemic-ravaged world. As a key example of a sector that has been severely affected by the pandemic, the fine arts business has been forced to bend forcefully under the tidal waves of isolation. However, a new approach is on the horizon. EBR’s Dawit Astatike looks into the rising trend of virtual art exhibitions.

Older Posts

Held Back by One’s Own Mind

The Psychological Plight of the Pandemic on Ethiopian Athletes

Government Needs to Discharge its Responsibility in Rebuilding Businesses!

Top 10 Weakest Currencies

“I Will not Miss any Opportunity to Help Ethiopia”

Departing Chinese Ambassador to Ethiopia, Tan Jian

Commercializing Fishery

Why it Remains a Daunting Task

Insights into the AID Philosophy of Rockefeller Foundation Africa

Demonetization Antithesis to Shadow Economy, Politics?

Electric Vehicles in Ethiopia: A Case of Putting the Cart Before the Horse

The Elusive Task of Matching Saving and Investment Rates

Scrawling towards Virtual Gallery