Ethiopian Business ReviewMarch 15, 2021Since Prime Minister Abiy Ahmed (PhD) seized power in April 2018, many political reforms targeting an improved human rights environment were introduced in Ethiopia. To this end, several oppressive laws, criticized for enabling human rights abuses in the past, have been revised.
Ethiopian Business ReviewMarch 15, 2021The first of its kind Global Crypto Adaptation Index launched in September 2020 assessed and ranked 154 countries on their level of adaptation and use of different digital currencies, in 12 months.
Ethiopian Business ReviewJanuary 27, 2021Ethiopian Business ReviewJanuary 16, 2021Only few countries have endured continuous and crippling high inflation rates like Ethiopia has in the past 15 years. The average annual inflation rate in this period was 16.4Pct and peaked above 20Pct in 2008, 2011, and 2020. Recall that when inflation spiked in 2008, food prices in Ethiopia rose by a staggering 92Pct within a single year.
Over the last 12 months alone, general and food inflation rates rose by 20.4Pct and 23.1Pct, respectively, according to the Central Statistics Agency.
Ethiopian Business ReviewJanuary 16, 2021The UN projects average world GDP growth at 2.7Pct in 2021, up from 2.5Pct in 2020 and 2.3Pct in 2019—a ten-year low since the 2008 global financial crisis. The pickup in global activity will likely be driven by somewhat faster growth in developing regions, where several large economies are expected to recover from adverse shocks. East Asia remains the world’s fastest growing region.
Ethiopian Business ReviewDecember 16, 2020Ethiopia has been impelling for the expansion of Djiboutian ports to accommodate its mushrooming foreign trade on top of exploring alternative sea gates, including the purchase of a stake in Somalia’s Berbera port. The country is also under negotiations with Eritrea to develop the ports of Massawa and Assab. The recent establishment of a one-stop border post (OSBP) between Kenya and Ethiopia alongside the completion of the Hawassa-Moyale road project provides Ethiopia, with its heavy and increasing dependence on imports, another option with Lamu, Kenya’s second largest port after Mombasa.
Ethiopian Business ReviewDecember 16, 2020Source: Mo Ibrahim Foundation, The Sustainable Development Goals Center for Africa. Sustainable Development Solutions Network
In the 2020 Africa SDG Index and Dashboards Report, most of the 17 SDG goals have witnessed serious setbacks, mainly due to COVID-19.
The slowdown of domestic economic activity translates into revenue shortfalls. The financing gap for SDGs in Africa that was already large is expected to widen, increasing the fiscal vulnerability of African governments. Without financial resources, sustainable development is elusive.
Ethiopian Business ReviewDecember 16, 2020
Mehrteab Leul Kokeb, a leading corporate financial services Lawyer in Ethiopia, has been practicing law for nearly three decades. After earning his law degree from Addis Ababa University in 1992, he worked as a judge in the high court and also as a litigator in the early 2000s. He then partnered with DLA Piper, a London based global law firm with offices in more than 40 countries, and joined the firm’s network by founding Mehrteab Leul & Associates (MLA) Law Office, a de facto law firm advising and representing corporate clients on business and investment issues in Ethiopia. Mehrteab has also studied financial services law at the University of London.
Ethiopian Business ReviewDecember 16, 2020
Following the demonetization of the Birr early Septemeber this year; and the strict regulation of the financial sector, a huge sum of money circulating outside the formal banking industry is fast declining as citizens rush to open new bank accounts and change old notes with new ones.
This has increased banks liquidity by six-fold. How are the banks going to deal with this increased liquidity? Will it lead to reduced lending interest? Will it improve access to finance to cash-starving companies in the agriculture and manufacturing sectors?
EBR had an audience with Muluneh Aboyeh, vice president of risk and compliance management at the Commercial Bank of Ethiopia (CBE) to discuss about the possible impacts of excess liquidity in CBE and the banking industry at large and how they are working to utilize it.
Ethiopian Business ReviewDecember 15, 2020
Ministry of Mines (MoM) revokes 63 investment licenses, of which 38 are mining and the rest are exploration companies. Underperformance, failure to renew licenses, and wasting public resources are mentioned as the rationales, according Takele Uma (Eng.), recently appointed minister of MoM.
Over the last five months, the mining sector generated USD302.9 million from export, of which USD299.1 million is from gold export, a magical comeback from a mediocre USD27.9 million for the whole 2019/20 fiscal year.
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