Ethiopian Business Review – Page 45 – Ethiopian Business Review

Graph 1:Ethiopia’s GDP Growth Rates in Comparison with that of Sub-Saharan Africa 2004 – 2011 Source: World Bank, World Development Indicators (2012); and IMF, World Economic Outlook (2011).

This figure shows the overall economic performance of sub-Saharan Africa (SSA) and Ethiopia. From a high base of close to 14pct real GDP growth in 2004, Ethiopia achieved a growth rate of nearly double the region. Ethiopia’s model of massive public sector investment is attributed for the consecutive double digit growth. The country’s economic indicators seems to replicate the 1960’s and 70’s situation of Asian tigers; at the start of their economic takeoff. This broad based growth is set to continue in the foreseeable future according to the World Bank.

Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA) is preparing to begin a one hour television program. The chamber has concluded an agreement with the Ethiopian Radio and Television Agency to start transmission of the program as of February 2013, the Relations and Media Department of the Chamber said.

Dashen Bank is in the final stages of allowing its customers enjoy using the latest dual outlet Automatic Teller Machines (ATMs). Unlike the former ATMs which are used only to withdraw cash, one of the latest machines that the bank has ordered, can also be used to deposit cash and checks. The other machine can be used to convert currencies. This is because the machines have dual outlets. One of the outlets has a sensor attached to it which helps deposit checks and cash; while the other can be used to manage exchange of currencies. The bank plans to make the two machines operational this year.

An HIV/AIDS document, which took years in the making by the Ministry of Health, is finally being published. The Minimum Package for HIV/AIDS Intervention in Emergency Settings gives guidelines for crisis intervention for mid level program planners in agencies that serve people with HIV and AIDS.

Addis Ababa University (AAU) announced a plan to establish technology business incubation (TBI) center at a cost of over a million birr. This was publicized in a workshop the University organized on January 16, at the University’s Eshetu Chole Building.

Awash International Bank (AIB) has set a new organisational structure throughout its head and branch offices. The structure integrates job descriptions and specifications, job grades and titles, salary scale and benefits packages, Ethiopian Business Review learned. The bank has also started grading branches into four classes.

The salary structure has been put in place beginning the new fiscal year. Because of the new scale, which is based on restructured pay grades, pay has risen 20 to 140 per cent, according to Ethiopian Business Review’s source. Most workers rejoiced when they heard the news about the increase but some, after realizing how the adjustment was carried out, were not happy.

BGI-Ethiopia and Ambo Mineral Water have recently come up with a first of its kind cooperation in advertisement in Ethiopia. The companies started a new style to advertise their products side by side in one sign board. This unique style of advertisement has started its function last September 2012 in Butcher’s around Piassa. The companies have also started to use joint advertisement during concerts. One such occasion was a concert at the Lafto Mall recently where Nathnael Ayalew, a young pop star, performed to a large crowd of people.

The foreign direct investment (FDI) in Ethiopia, in 2011/12, was hugely dominated by two countries. Perhaps, contrary to what many people might think, Turkey and India took 58.75 per cent of the total FDI capital registered in the last fiscal year. If we see the data of only the top 10 total capital, the two countries’ contribution increases to more than 81 per cent. In terms of job opportunities, 62 Indian projects which created employment opportunities for 46,131 people (over 28 per cent of the total jobs FDI brought in the year) leads the group, while Turkish investors with 22 projects created 12,004 people is the second. Investment from neighbouring Sudan which created 11,645 jobs was the third.

Sivu Maqungo, Chief Director for East and the Horn of Africa at the Department of International Relations and Cooperation, Republic of South Africa said on September 19/2012. He was in Addis Ababa to address a business meeting the Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA) organized for the Ethiopian Business Community to talk about business and investment with a delegation from South Africa. Maqungo, who was head of the Delegation, said to a group of Journalists that South African Business Community would like to know three things about Ethiopia. So, solemnly, he said, the first thing they would like to know is, Ethiopia’s location.

The foreign direct investment (FDI) in Ethiopia, in 2011/12, was hugely dominated by two countries. Perhaps, contrary to what many people might think, Turkey and India took 58.75 per cent of the total FDI capital registered in the last fiscal year. If we see the data of only the top 10 total capital, the two countries’ contribution increases to more than 81 per cent. In terms of job opportunities, 62 Indian projects which created employment opportunities for 46,131 people (over 28 per cent of the total jobs FDI brought in the year) leads the group, while Turkish investors with 22 projects created 12,004 people is the second. Investment from neighbouring Sudan which created 11,645 jobs was the third.

Ethiopia’s GDP Growth Rates in Comparison with that of Sub-Saharan Africa

AACCSA to Begin TV Program

Dashen Bank to Import Latest ATMs

Ethiopia introduces guideline to fight HIV/AIDS in emergency areas

AAU Plans to Establish TBI

Awash International Bank Launches New Salary Structure

Mutualism in Business

Top 10 FDI Sources in Ethiopia in 2011/12

“The first thing the South African Business Community wants to know is Ethiopia’s location …”

Top 10 FDI Sources in Ethiopia in 2011/12