Samson BerhaneJanuary 17, 2020
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1min3940

Djibouti has rejected a London Court of International Arbitration ruling that has ordered the country restore the rights of DP World to administer Doraleh Container Terminal.

The court has ordered Djibouti to restore the rights and benefits under the 2006 concession agreement to DP World and Doraleh Container Terminal within two months, or pay damages.


Samson BerhaneJanuary 13, 2020
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1min18810

The real Gross Domestic Product (GDP) of Ethiopia, a parameter employed to measure the size of an economy, has reached ETB1.8 trillion (USD60 billion), National Bank of Ethiopia (NBE) reveals. The Bank, in its latest report published last week, disclosed that Ethiopia’s economy has recorded a nine percent growth in 2018/19, faster than the 7.7Pct expansion in the previous financial year. An improvement in industrial output, coupled with the growth of the service sector, has largely contributed for the growth registered in the past fiscal year.


Samson BerhaneJanuary 13, 2020
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1min8950

State of Tigray sees the highest food inflation rate amongst all regional governments and city administrations in Ethiopia, reaching as much as 23Pct last fiscal year, according to a new report published by the Central Bank. Annual food inflation rate in the Tigray increased by ten percentage points during last fiscal year from being 13Pct in 2017/18, the report says. This is largely resulted from the rise in prices of basic food items in the Region, including wheat, teff and vegetables.


Samson BerhaneJanuary 1, 2020
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2min1930

Buzuayehu T. Bizenu, a father of four, is a Group Chairperson of East African Holding, a de facto industrial conglomerate with 17 subsidiaries. His company is engaged in the manufacturing of fast moving consumer goods, tea processing, printing and packaging, transport, real estate, cement production, and coal mining. Although Buzuayehu has structured and re-established the company almost 25 years ago, it is his grandfather who founded the business more than a century ago, making him the third generation in a family of entrepreneurs. After his father inherited the business and diversified into milling and agriculture (coffee), his fledgling enterprise was nationalized by the Dergue regime in 1974.

While this was a major setback, the family’s dreams and aspirations were not curtailed as entrepreneurship was deeply engrained in his soul from an early age. Soon after, Buzuayehu was able to pick up after his father, although this was an extremely difficult task under communist rule. He fled to neighbouring countries to establish trading and distribution posts, opening offices in Djibouti, Kenya, Uganda and Tanzania. He moved to Ethiopia after EPRDF took power in 1991. Attracted by a favourable private sector and industrial development policy, he quickly transitioned from trading to manufacturing and agribusiness.


Samson BerhaneDecember 31, 2019
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1min31380

Oromia International Bank (OIB) earned ETB217 million profit from interest free banking services (IFB) in the past fiscal year. While this is the highest amongst all private banks that provide IFB services, it is 22Pct higher than 2017/18 financial year. Being the first private bank to provide IFB service, OIB’s IFB window generated a total income of ETB244 million in 2018/19, a nine percent rise compared to the preceding fiscal year, while its total expense of the same window declined by four percent to ETB27 million.


Samson BerhaneDecember 12, 2019
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1min8960

The banking industry is witnessing its biggest change at a pace not observed for the past two decades. With different reforms undertaken by the Prime Minister Abiy Ahmed-led administration, for the first time in a decade, new entrants are on the verge of joining the banking industry. So far, 11 full-fledged Islamic, investment, mortgage, and conventional banks are under establishment. Majority of them are joining with higher paid up capital, a move criticized for being unwise as it’s likely to affect shareholders’ return. EBR’s Samson Berhane spoke with industry insiders, experts, and officials to find out the likely impact of the new players in the banking industry.


Samson BerhaneDecember 12, 2019
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2min1400

Born in Gojam, northern part of Ethiopia, Atalay Alem (Prof.), married and a father of two, is among few Ethiopians specialized in the field of psychiatry. Graduating from Addis Ababa University in 1983 in medicine, Atalay first worked as a junior medical officer and later as a medical director at Adigrat District Hospital. A year later, he joined Amanuel Hospital, the only psychiatric hospital in the country where he gained three years of experience in mental healthcare. Soon after, he received training in clinical psychiatry at Victoria University of Manchester, UK.

Nine years later, he attained his Ph D. at Umeå University in Sweden. After returning to Ethiopia, Atalay worked for tof Amanuel Mental Hospital as a psychiatrist for many years and then as a medical director of the Hospital for six years before joining Addis Ababa University as an Assistant Professor in 2000. He also led the establishment of the College of Health Science as a separate and autonomous entity under the auspices of Addis Ababa University a decade ago.



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