In collecting ETB61.3 billion in revenue, Ethio Telecom credited its network and system expansion andoptimization works. In all, 67 new and 77 revamped local and international products and services were offered to the parastatal’s customers. The budget year of 01 July 2021 to 30 June 2022 saw the commencement of the three-year BRIDGE growth strategy. This strategy and new offerings are preparations for the upcoming competitive market.
Jubilation and excitement featured all over Addis Ababa as the Ethiopian athletics team that registered 10 medals—four gold, four silver, and two bronze—returned home from the World Athletics Championship in Oregon, USA. The team of athletes, coaches, and administration staff—including Ethiopian Athletics Federation President Derartu Tulu—toured the city’s avenues for hours before a congratulatory event at the National Palace in the presence of President SahleWorq Zewde.
Photo Credit: Samuel Habtab
Sergei Lavrov, Minister of Foreign Affairs of the Russian Federation, took part in the national seedling planting endeavors at his nation’s embassy in Addis Ababa, alongside his Ethiopian counterpart Demeke Mekonnen. Thereafter, the minister held a press conference where various issues were raised.
Photo Credit: Samuel Habtab
Dubai is working to make itself the main center of the world economy, as well as an investment hub and tourism destination. Towards this, Stella Fubara, Director of International Operations with the Dubai Department of Tourism & Commerce Marketing (DTCM), is in Ethiopia. Stella arrived with Tonye Princewill, CEO of RivExcel, an international management company with a strong presence in Africa, UK, UAE, the Caribbean. RivExcel is assigned to undertake works on the African continent with regards to DTCM, or Dubai Tourism.
GDP comprehensively measures the monetary value of all the products and services that are produced in a country within a given period of time. It gives a relatively accurate estimate of the size and growth rate of a country’s economy, thereby helping investors to make strategic decisions. GDP considers factors such as production, expenditures and income. The figure can sometimes be adjusted to reflect inflation and population growth, thereby providing deeper insights.
On April 26, 2022, a number of people were killed in Gondar following an incident that involved the fighting of two groups divided along religious lines. As reports have it, the incident happened during the funeral of Sheikh Kemal Legas. Apparently, a person who wanted to get a burial stone from a nearby Christian place of worship got into a fight with another who refused to the taking of the stone. The matter escalated to spread from the Islamic cemetery to the city.
No person or thing seems to have been blamed for continuous price hikes in the Ethiopian economy like middlemen. Whether gas or groceries inflation, both current and past administrations have a way of blaming these players for their failed attempts to establish a strong and resilient market structure. Even though various factors may contribute to the failure to sufficiently tackle price increases, middlemen have indeed had their fair contribution to the problem. Over the past few years, electronic commerce platforms have been popping up, helping counterbalance their negative effect. Despite the impact of these attempts being on the smaller end, there is enough evidence worldwide to argue that e-commerce can indeed help in curbing the counterproductive effect of these trade players in the middle. In this article, starting with the story of a recent entrant in the e-commerce business, EBR’s Addisu Deresse analyzes the impact, considerations, and challenges of e-commerce platforms in an economy.
Aster Solomon
Chairperson, Addis Ababa Hotel Owners
Born and raised in Addis Ababa, Aster Solomon is a pioneering businesswoman who introduced geographic information systems (GIS) to Ethiopia through a company she founded with a colleague. Information System Services (ISS) was founded in a rather bold move by the entrepreneur at a time when not a lot of people were able to use computers and when government offices were using typewriters. She is also the owner of Mosaic Hotel as well as New English Private School, one of the leading private schools in Addis Ababa.
Aster’s leadership roles extend from the Addis Ababa Hotel Owners Association to the city’s Chamber of Commerce. She was elected to chair the board of directors of the metropolitan hotel owners’ association in September 2021. She is also one of the founding women of Enat Bank, the first and only women-initiated and -led financial institution in Africa and the Middle East. She has been an active member of the board of directors of the city’s chamber for several years. In this interview with EBR’s Addisu Deresse, she shares her multi-disciplinary involvement in various sectors as well as her experience in being an entrepreneurial woman.
The impact of insecurity on the Ethiopian economy has been ongoing since 2013. Following the coming to the helm of a new prime minister, a pandemic and all-out war have continued to challenge the already weak economy. Recently, a new directive by the National Bank of Ethiopia has sent shock waves within exporters’ circles—the nation’s global traders who help ease the forex famine and elevate the hopes of importers. All these challenges are being faced at a time of global supply disruption caused by the Russia-Ukraine war. At such an important moment of unprecedented internal and external challenges, the government’s approach to the matter has a potential to define the economy, and hence, the country’s sustainability, writes Bamlak Fekadu.
Ethiopian Business Review
Addisu Deresse
Bamlak Fekadu