Blog – Page 74 – Ethiopian Business Review

The Lucrative Business Taking Workplace Aesthetics to New Heights

Fiberglass has become nearly ubiquitous over the past century as the strong, lightweight material finds use in the manufacture of everything from boats to buildings and pipes. Though a bit late to the scene, businesses in Addis Ababa are catching on to the profitability and demand involved with fiberglass. From importers and processors to schools that teach their students how to fashion versatile material into marketable products, there is a new wave of activity in the fiberglass line of business. In addition to the lucrative profit margins, fiberglass offers fresh aesthetics to homes and offices, writes EBR’s Eden Teshome.

The pet trade has evolved in recent years from individual vendors hawking puppies on the roadside to full-fledged pet stores and social media sites offering high-end breeds to increasingly eager customers. An evolving attitude to dog ownership means that demand continues to grow, with some breeds selling for as much as ETB 250,000. The booming trade is only one side of the story for the dogs of Addis Ababa, as untold numbers of the canines still live on the streets, posing serious public health concerns, writes EBR’s Tirualem Asmare.

Dibekulu, affectionately known by his fans as “Dibe”, is an Ethiopian artist who resides in the vibrant capital of Ethiopia, Addis Ababa. His melodic style, which is simultaneously playful and reflective, is influenced by his love of jazz, classical music, and improvised instrumental music stemming from his African roots. His passion for music was ignited by legendary Ethiopian artists such as Ketema Mekonnen, Tilahun Gessesse, Girma Beyene, Muluken Melesse, Aster Aweke, Asnakech Worku, and Bizunesh Bekele, who to this day serve as his role models and inspirations. In his own words, DibeKulu says: “These artists have had a huge impact on me both as a musician and human being, and I give them credit for having an influence on who I am as a person and musician”.

DibeKulu, the youngest of three children, was born in the city of Addis. His family is his compass and he attributes much of his musical passion to them. His grandfather, a strong man of faith, was a strong presence in his life, and gave him the name “DibeKulu”, which is a combination of two Ge’ez words meaning “Kehulu Belay” which loosely translates to “destined for greatness”. Early on, he recognized that he was born to be a musician who was put on earth to inspire generations with his gift of music.
DibeKulu started performing in the early 2000s in various nightclubs and other settings around Addis Ababa. A young and gifted artist like DibeKulu had plenty of options world ushered in a new millennium and a new decade.

Owing to his impressive live performances, DibeKulu gained prominence in the modern Ethiopian music scene. As a musician, he embodies the essence of African music, exhibiting a young man with an old soul. During his time with Jano Band, DibeKulu performed concerts in Addis Ababa, Arba Minch, Bahir Dar, Dessie, Jimma, and Mekelle cities. Internationally, he performed in Brazil, Italy, Jamaica, Japan, Netherlands, New Zealand, Sweden, the United States, and the United Kingdom. As the young artist departed his former band and went solo, Haben Woldu sat down with him for an EBR exclusive.

Especially Under the New Commercial Code

In the period between the beginning of October and the end of December most publicly held companies convene their general meetings. This includes firms in the financial sector, whose high-profile assemblies are often newsworthy. Therefore, this is high time to talk about shareholder meetings and their relevance apart from fulfilling legal requirements.

It is often said that shareholder meetings are simply a formality. They have no real power except rubber-stamping the proposals of the board of directors. Whatever decisions are made at shareholders’ general meetings are made because the board wants them to be. If at all, the instances where shareholder meetings opted out of board proposals are few and far between. This is because, under the law, only the board of directors can prepare the agenda of the general meeting, and the meeting cannot discuss matters which are not on the agenda. But both by law and practice, the board prepares not only the agenda but also the proposed resolutions for approval. In effect, it is not just the agenda that the board presents to the meeting; it includes detailed proposals along with each agenda item.

The Future of Ethiopia’s Economy at Stake

Ethiopia has been seen as one of the last frontiers of untapped growth in Africa. When the federal government decided a couple of years ago to liberalize the telecom sector and put an end to the 125-year-long monopoly held by Ethiotelecom, investors welcomed the news, and citizens for their part leaped for joy. The jubilation was understandable as the quality of the service delivered by Ethio telecom had been substandard, to say the least, and was the main cause, among others, for Ethiopia to be left at the station rather than being onboard the digital economy train.

Recently, the three-decade-old policy stance on foreign banks’ entry was abandoned – a watershed event since the 1990s financial sector liberalization. A proclamation that would allow foreign banks to join the Ethiopian banking industry is in the pipeline. The proclamation allows four entry modalities: acquiring shares in the domestic banks, setting up a subsidiary, opening a branch office, and opening a representative office.

The decision caught many people, even the industry players, by surprise. While the government is optimistic about the benefits (particularly foreign currency inflows) accruing from the entrance of foreign banks, subsequent discussions have shown that many have fears and concerns. It appears that the concerns have alarmed the government to add more restrictive rules.

By combining traditional wisdom with cutting-edge technology, Dashen Bank and EagleLion System Technology have reinvented Ethiopia’s traditional deferred payment buying system. The two have joined up to create Dube Ale, Ethiopia’s first “Buy-Now Pay Later” program, as a countermeasure to the infamous stopper, “dube” yelem. The Bank provides Dube Ale, a short-term financing, in association with traders and merchants. It enables society to make purchases now and pay for them in three, six, or a year’s time with or without interest.

Dube Ale is expected to boost customer base of trading partners as it enables them to render a more affordable buy now, pay latter scheme and fuel economic activities that would otherwise be constrained by consumers’ limited ability to pay upfront to buy products and services the moment they need them. With the deferred payment option brought about by Dube Ale consumption and usage will be encouraged that in turn add a boost to merchants’ turnover.

Anyone can download the Dube Ale app from the Play Store or the App Store and sign up for the service thereafter. One must visit a nearby Dashen Bank branch to obtain a spend limit and begin using the service.

The Bank previously has introduced a payment platform called Amole, which now is being used by millions of subscribers. Dashen Bank has also pioneered micro saving and credit products in collaboration with Ethio-Telecom in August, 2022. The Bank also recently unveiled a Tier-III ready data center, the first of its kind in the country’s private banking sector, along with accompanying network and security canters.

Shedding Light On Hope Amidst Despair

Amid an overwhelming hopelessness, Nazrawit Tesfaye, a graduate of Jima University, expressed her inner turmoil through a haunting Facebook post. “Benhed Yeshalenal”, literally meaning we would rather go away, was the last words she shared with the world on her Facebook page, signifying her tragic final plea for help or maybe goodbye. Nazrawit’s social media presence had been marked by glimpses into her ongoing battle with depression, a silent struggle that weighed heavily on her soul. Her heart-wrenching story is not an isolated incident; a wave of desolation has swept across the youth in Ethiopia, their cries for help echoing through the virtual realm. In a world where the impact of these struggles is increasingly felt, we must delve into these heart-touching narratives, opening our hearts and minds to the profound pain that silently engulfs so many, writes EBR’s Eden Teshome.

The launch of the premier sign and Graphics expo has opened the door for promoting the advertising value chain. Over 3,000 trade visitors are expected to have discussions with exhibiting companies. Organized by the Prana events and its partner Expo Team for Service Co. Ltd, the Afri Print and Packaging Expo (APPEx), the premier paper, commercial printing, and packaging technology, inputs, and solutions international tradeshow, is back again for its 7th edition after 6 years. A sign and graphics expo (SGE) will also be held concurrently to promote the advertising value chain for the first time in the East African Sub- region.

The three-day show will be held from 20 – 22 December at the Ethiopian Skylight hotel gathering key stakeholders, leading industry experts, renowned sector professionals, valuable buyers, concerned government officials, and start-ups. APPEx and SGE 2022 will serve as a platform for companies to connect with potential clients and give exceptional access to an audience ready to equip themselves with knowledge and solutions to move their business forward.

The event is endorsed by the Ministry of Industry Chemical and construction inputs industry development institute. The pan-African chambers of commerce and industries (PACCI), and Ethiopia Publishers and Printers Associations are the institutional partners for the event.

With an annual growth rate of 14.4 pct from 2016 to 2020, Ethiopia is Africa’s fastest-growing importing country for printing & paper-converting technology. Ethiopia is also East & Central Africa’s largest and fastest-growing importer of packaging technology. With an average annual growth rate of 11.2 pct between 2015 and 2020, Ethiopia is also one of Africa’s fastest-growing importers of packaging technology. (VDMA).

Addis Ababa, Ethiopia, December, 2022 – Ethiopia Real Estate and Home Expo, an annual gathering of the leading local and international Home developers showcasing the latest offers and solutions, is again back with the latest edition. Set to be held on the 17th and 18th of December 2022, the fifth Ethiopia Real Estate and Home expo comes at a time when the demand for residential houses in urban Ethiopia, especially in Addis Ababa, has dramatically risen over the past years.

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Older Posts

Fiber Glass

The Lucrative Business Taking Workplace Aesthetics to New Heights

Who Let the Dogs Out?

“Streaming Platforms Need to Align Themselves With the Artist!”

Why Shareholders’ General Meetings Matter

Especially Under the New Commercial Code

Mobile Money-Telecom Decoupling

The Future of Ethiopia’s Economy at Stake

Exaggerated Optimism, Concerns toward New Liberalization Reform

Dashen Bank Reinvents Credit Transaction Service Dube Ale

Rising Suicide Rate

Shedding Light On Hope Amidst Despair

Afri Print and Packaging Expo back again after 6 years for its 7th Edition

Addis Ababa gears up for the fifth edition of the Ethiopia Real Estate and Home Expo.