Ethiopia: Latest News
Derek Dias, 9:47 am
From 1549 until 1875, Jolof or Wolof, was a powerful kingdom in what is now Senegal and Gambia. In 1875, the theocratic Imamate of Futa Jallon brought jihad upon its neighbor. The kingdom never recovered and the French took over soon after. C’est la vie. The next time you eat Jollof rice, you can thank this kingdom. Not enough people besides history buffs know about the great empires, kingdoms, and sultanates of Africa. Here are some of the great African empires you may never have heard of.
Kevin Mwanza, 7:13 am
Israel’s minister of Agriculture, Uri Ariel, made an un-expected visit to Ethiopia last week to visit Menashe Levy, an Israeli business man who has been in prison since July last year, in Addis Ababa. The details of Ariel’s visit to Ethiopia remained privy but the tribulations facing Levy were a key reason for the impromptu visit, Ynet News.com reported. Levy is accused of tax evasion, money laundering and bribery
Dana Sanchez, 3:47 pm
Africa is increasingly attractive to global clothing brands, but poor infrastructure remains a challenge. East African suppliers need to upgrade their facilities and enter into long-term partnerships with buyers, McKinsey suggested. Buyers need to evaluate the region as a true strategic option rather than just a testing ground. U.S.-owned Tommy Hilfiger and Calvin Klein brands source 5-to-6 percent of global production from Africa. “We believe that production could grow… over the next five years to over 25%,” said the company CEO at the U.S.-Africa Business Forum.
Dana Sanchez, 11:12 am
In Africa, proposed consolidations of seed and agrochemicals industries will result in a bigger push for genetically modified technology. For sub-Sahara’s predominantly small-scale farmers already operating at a low profit margin, greater consolidation means less choice for them and consumers. These proposed mergers are not just about seeds and pesticides. They’re about controlling big data, DNA and intellectual property, stakeholders say.
Dana Sanchez, 10:37 am
Ethiopian Olympic protester Feyisa Lilesa says he can relate to U.S. athlete Colin Kaepernick, who faces backlash in the U.S. for his own peaceful protest in support of the Black Lives Matter movement. Kaepernick is the son of farmers, Lilesa said, like most Oromo. “We are not violent,” he said. “My people are a peace-loving people.” Lisela’s Olympic protest came at great consequence, as most effective protests often do. Instantly, Lilesa said, Ethiopian Olympic team officials knew they had to distance themselves from him.
Staff, 3:13 am
African private equity is having its moment in the sun, with pension funds on the continent ready to invest in their own backyard as investment banks continue to retreat from lending and domestic strategies mature. Sources cited East Africa as “hot.” Countries such as Tanzania, Kenya, Ethiopia and Rwanda were mentioned as offering emerging opportunities in private equity, while Nigeria
Dana Sanchez, 6:05 pm
In a closed-door meeting at this week’s U.N. General Assembly, Netanyahu said he plans to visit West Africa later this year, “but I don’t intent to limit myself to East Africa or West Africa. Israel is looking at all of Africa,” he said. “And I hope that all of Africa looks at Israel.” Energyia Global Capital, a Jerusalem-based solar enterprise, launched East Africa’s first solar field in 2015 in Rwanda. The company is prepared to invest $2 billion in Africa over the next four years through Obama’s Power Africa program. The goal is clean electricity for 50 million people by 2020.
Dana Sanchez, 2:32 pm
A U.S.-based fashion startup showcasing African designers is just one of the funding deals announced this week at the U.S.-Africa Business Forum. The world watched as African and U.S. CEOs and leaders talked trade. For one New York fashion startup, it’s the kind of advertising money can’t buy. Kenya was also a big winner, scoring a new Nairobi office for OPIC, which mobilizes private capital to advance U.S. foreign policy. The office — OPIC’s third in Africa — will raise Nairobi’s profile as a hub for investors seeking big-ticket infrastructure deals.
Dana Sanchez, 11:35 am
Ethiopia moved closer to its goal of being an auto industry hub when South Korea’s Kia Motors signed a deal to start assembling cars there. Tax breaks and cheap labor are some of the attractions. For now, Ethiopia must compete with South Africa and Morocco. Egypt, Kenya and Sudan also assemble vehicles. Kia has faced stiff competition in recent years from U.S. and Japanese rivals while demand in emerging markets has cooled. “It is important to penetrate the African market,” a Kia boss said.
Kevin Mwanza, 7:43 am
Esmeralda Farms Nederland, a US-based flower farm in Bahir Dar, has ceased its operations in Ethiopia after an attack on its premises by alleged anti-government protestors that led to damages worth millions of dollars. The attack which was linked to the ongoing Oromia protests happened earlier in the month. It caused damages estimated at $ 11, 158, 900 (10 million euros), according to DutchNews.nl.
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