Blog – Page 158 – Ethiopian Business Review

Lately, Addis Ababa has witnessed a boom in high-end men’s barbershops, which have distinct features such as neat rooms, wider spaces and attractive interior designs. With a unique marketing strategy, this new kind of barber, which usually charges between ETB70 and ETB150, is seemingly popping up in every new building. As it becomes one of the quickest-growing professions in the capital, the new trend is now starting to appeal to more and more of the city’s residents, as Ashenafi Endale reports.

Despite the availability of many lakes and rivers, Ethiopians have yet to embrace the sport of swimming. Many are hard-pressed to name any professional Ethiopian swimming icons. Lack of proper attention given to the activity, shortage of financing as well as the unavailability of swimming facilities is hindering the sport from growing, as EBR adjunct writer Abiy Wendifraw reports.

Zuriel Oduwole, the 16-year old documentary film maker and girls’ education activist, recently made a trip to Ethiopia to premiere her new documentary, “Follow the Ball for Education” to a group of female students and young professionals. The trip was part of a four-country tour around the world with the film, where Oduwole also spoke about the importance of educating girls. EBR’s Menna Asrat was on hand at the Radisson Blu Hotel to watch the documentary and speak with Oduwole about her work.

A New Hero for a New Generation

Comic books have been taking over the international pop culture scene for quite some time. With the surge in popularity of printed and online comic books, as well as blockbuster movies from comic-inspired cinematic universes, an increasing number of adults have started to revisit the comic books they loved in their childhoods, as well as introducing a new generation to the art.

In July 2018, while presenting a three-month report to Parliament, Prime Minister Abiy Ahmed (PhD) addressed the nation and the diaspora community. In his address, he spoke about the role of the diaspora in the development of the country and promoting Ethiopia to foreigners. He mentioned that the diaspora has the responsibility to convince potential tourists and investors to flow to the country. As a foreign resident, who has been living in a Scandinavian country for nearly 15 years, my reaction to his address was mixed. I have been coming to Ethiopia every year and I would like to speak about what the country needs to address before it starts to attract tourists, and what the role of the diaspora should be in promoting the country and creating a positive narrative of the nation.

It is an Africa-wide fact that the policies of the World Bank (WB) and the International Monetary Fund (IMF) such as structural adjustment programs (SAPs) through what is called the “Washington consensus”, which includes privatization across Africa, have been the cause of African stagnation and poverty so far. Apart from liberalization, which includes devaluation and related macroeconomic policies, privatization was one of the key policies that Africans need to undertake in order to get aid from the WB and IMF and through their seal of approval from the Western countries.

In early June 2018, the Ethiopian government announced it would allow domestic and foreign investors to take stakes in Ethio Telecom, the state-owned telecoms firm and Ethiopian Airlines, the state-owned carrier. Other state-owned enterprises (SOEs) up for grabs are Ethiopian Power and Maritime Transport and Logistics Corporation. The state would still retain majority stakes in them, however. Regardless, it is a huge change in policy. In a speech to parliament in June, Abiy Ahmed suggested that any sale would be gradual, however; over 10 to 30 years. He was probably being mindful of political sensibilities. A serious plan could not be that long winding certainly.

The mission of the United Nations to end extreme poverty is unlikely to be met, largely due to the growth in food insecurity in developing countries, according to the World Poverty Clock, a data lab created by a Vienna-based NGO last year. Based on targets set by the UN almost twenty years ago, about 83 million people should have been lifted out of poverty by now.

The Rise of A Shadow Government

State capture refers to systematic high level political corruption that establishes a hidden political regime at odds with the constitutional purpose of the state, by capturing politicians and parties, journalists and the media, the police as well as key state institutions such as the legislature, the executive, the judiciary and regulatory agencies in order to protect and to benefit its own private interests. Although state capture is a concept that has received extensive attention principally in the post-communist states of Eastern Europe and Latin America, it has also found its way into Africa’s political discourse in recent years. In fact, the influence of state captors is growing in developing countries. Ethiopia is no exception, as evidenced by the mismanagement of massive mega projects and numerous corruption scandals as well as political persecution, especially in recent years. EBR’s Samson Hailu investigates the extent of the phenomenon in Ethiopia.

Peter M. Sullivan has been the managing Director and head of the Public Sector Group for Africa at Citi Bank since 2007. The Public Sector Group is committed to facilitating global best practices and success transfers among its client base including central banks, multilateral development banks and sovereigns.

Peter, who is responsible for developing business and structuring and delivering product solutions for sovereigns, state-owned enterprises and multilateral institutions in Sub-Sahara and North Africa, has 27 years’ experience in the banking industry with Citi including the coverage of Global Financial Institutions, Industrials and Sovereigns.

High-End Men Barbers Burgeon

Sinking Swimming Sport

Zuriel Oduwole: High Hopes

Jember A New Hero for A New Generation

A New Hero for a New Generation

Ethiopia: A Country Worthy of Promotion?

Privatization of Public Enterprises is Against the National Interest

Will Foreign Banks Be Beneficial for Ethiopia?

Top 10 Countries in the world Affected by Poverty, 2017

State Capture

The Rise of A Shadow Government

The Foreign Exchange System Should Be Changed