Berihun Mekonnen – Page 2 – Ethiopian Business Review

Prominent athletic victories by their athletes have made Ethiopians stand tall. People from all walks of life have come together to celebrate these heroes and watch the national flag be lifted high. Thanks to recent athletic accomplishments, Ethiopia has started being recognized for enduring runners and captivating stories instead of famine and poverty.

These days however, their glory in the international sporting arena is not the only way they are working to make their country better. Several of the country’s heroes and heroines in the Olympics and World Championships as well as other international competitions have started investing their hard earned prize money back into businesses.

Zewde Zeleke (PhD), general manger and owner of Biyo Agricultural Development, has received 6,749 hectares of land to develop a commercial farm in Benishangul Gumuz regional state, almost a decade ago. The farm was profitable and earned him an award for the export crops he grew. He created more than a thousand jobs for the local community and provided supports including building roads and helped train residents in new farming technologies. This is what the government had in mind when it encouraged local investment in commercial farming.

In May 2000, The Economist, the English weekly, came out with “Hopeless Africa” as its cover page story. The article depicts Africa as a messy place. It goes as far as painting corruption, brutality and despotism as part of the culture of African societies. A decade later, the magazine changed its pessimistic outlook and came out with a positive story: “Africa Rising: The Hopeful Continent,” and explained why the future is Africa.

In recent years, Africa has undergone major changes and these positive economic changes are humbling those who thought otherwise.

Running for the Gold, Running for the Money: Investments of Ethiopia’s World-Beating Athletes

Disappointment on the Ground: The Failure of the Local Commercial Farming

Africa’s Economy: The Gloomy Past and Its Bright Future