Arecent analysis of cost of living data by Numbeo, a renowned data and research platform, paints a concerning picture for major African cities. The report reveals the intense pressures countries across the continent face due to a surge in living expenses. Addis Ababa, Ethiopia’s central city, emerges as the most expensive city, followed by others like Harare, Johannesburg, and Cape Town.


The victory at Adwa is a significant achievement that represents Ethiopian unity. However, the virtues that historic battle — unity, freedom, equality and justice — seem to be eroding. Guzo Adwa, a movement that started in 2013, aims to bring a unique way to commemorate the sacrifice paid for freedom by our brave forefathers as they set out to defend their motherland from the yok of colonial aggression, is trying to reinvigorate the Ethiopian public through an annual journey to the battle site. EBR reprints an updated version of content published in edition 58 by an adjunct writer, Meseret Mamo, who explored how the annual service inspires Ethiopian youth to learn from the heroes of Adwa.


Ethiopia’s Lack of Standard Stadiums Thwarts Footballing Ambitions

Ethiopia is a distant observer while the continent’s finest footballers take centre stage in Côte d’Ivoire for the Africa Cup of Nations (AFCON) 2023. Having graced the AFCON stage in Cameroon just two years ago, the “Waliyas” now watch from afar, a stark reminder of their struggles to sustain continental relevance.

This absence highlights a more profound malaise afflicting Ethiopian football: the glaring lack of a stadium meeting CAF and FIFA standards. Dr. Brook Genene, a prominent sports commentator for EBR, delves into this critical issue, revealing its detrimental impact on both results and player development. Indeed, Ethiopia’s recent stumbles can be partly attributed to the absence of a world-class stadium. Substandard facilities hinder both domestic and international competition, crippling player development and eroding fan confidence.

Ethiopia’s landlocked status has long constrained its economic growth and regional influence. While direct access to the sea offers undeniable benefits, achieving it remains a complex geopolitical puzzle. Direct access to the seaport brings enormous economic benefits for Ethiopia. It strengthens a nation’s regional and international standing, granting it a voice in maritime affairs and potentially boosting cooperation with other coastal countries and superpowers.


Africa, the world’s second-largest continent in terms of land area and population, holds a prominent position on the global stage, rivalling only Asia. With over 11,724,000 square miles (30,365,000 square km), Africa covers approximately one-fifth of the Earth’s land surface. Its geographical features are diverse and captivating, with the continent bisected by the Equator, positioning most of its territory within the tropical region.


A Glimpse from Goldman Sachs Report

Goldman Sachs, a leading global investment banking firm, has made intriguing predictions of Ethiopia’s economy in their “Global Economics Paper: The Path to 2050.” While the exact details remain hazy, the report paints an optimistic picture of significant economic growth and transformation for the nation. Accordingly, in 2050, Ethiopia will have a USD 1.6 trillion economy, ahead of the USD1.4 trillion GDP of South Africa and Argentina. While it’s important to acknowledge the inherent uncertainties and treat any projections cautiously, Ethiopia has immense potential for economic growth and transformation in the coming decades. EBR’s Economic Research & Business Intelligence closely examines the report.

According to the International Monetary Fund (IMF), several highly indebted emerging countries have obtained significant loans from China. These loans are part of China’s broader investments in global infrastructure through the Belt and Road Initiative (BRI), also known as the New Silk Road. Launched in 2013, the BRI is an ambitious project to create an extensive network of railways, energy pipelines, highways, and streamlined border crossings.

Will it Rain Relief or Ruin?

Ethiopia’s debt is undoubtedly mounting. Although the debt to GDP ratio has shown some signs of decline, the debt in actual figure is increasing.

The IMF and other economic institutions project that Ethiopia’s debt-to-GDP ratio will increase in the near term, potentially reaching 50Pct by 2024. Some analysts believe Ethiopia can manage its debt burden sustainably, while others express concerns about the potential debt crisis, which is already looming as the country missed a USD33 million Eurobond coupon payment on December 5. The default on the Eurobond coupon marks a challenging economic phase for Ethiopia. This development comes amidst internal conflicts, high public debt, and ongoing discussions with the IMF for a potential financial bailout and debt restructuring with G-20 countries.


Ethio Telecom, the leading telecommunications company in Ethiopia, has released its half-year report, showcasing notable growth and success in the first six months of the fiscal year 2023/24. The report, covering the period from July to December 2023, highlights the company’s efforts to expand telecom infrastructure, improve service quality, and meet the growing demand for telecommunications services in the country.

Ethio Telecom’s subscriber base reached 74.6 million, representing a 6.7 Pct increase from the previous year. Mobile voice subscribers accounted for 71.7 million, while fixed broadband subscribers reached 688.3 thousand. The company has been working on enhancing network capacity and coverage, resulting in the commercialization of 5G services in Addis Ababa and certain regional cities.


Prime Minister Abiy Ahmed has announced the appointment of Hanna Arayaselassie as the new head of the Ethiopian Investment Commission (EIC). This move comes as part of the government’s efforts to bolster foreign investment and improve the functioning of the EIC.

Prior to her appointment, she served as the CEO of Ethiopost, where she spearheaded transformative reforms that resulted in a remarkable improvement in service quality. Under her leadership, Ethiopost tripled its revenues and was honored with the prestigious Postal Excellence Award for the Africa Region in 2023 by the Universal Postal Union.

Ethiopian Business Review | EBR is a first-class and high-quality monthly business magazine offering enlightenment to readers and a platform for partners.

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