Ethiopia: Latest News
Kurt Davis Jr., 7:57 am AFKI Original
In cities from Victoria Island in Lagos, Nigeria to Maputo, Mozambique, gym memberships can be above $100 per month. Africans are paying higher fees than in more mature markets. Zumba classes are abundant, yoga is everywhere, and biking and running are an ever-growing trend in Africa. Putting cash into the facilities for these types of activities is lucrative. Scalability is still a concern but branding across borders and within regions is necessary for growth.
Dana Sanchez, 4:47 pm
Ethiopia was the world’s fastest growing economy in 2015 at 10.2 percent. China has invested heavily Ethiopian infrastructure, funding railways, roads, dams, and sub-Saharan Africa’s first modern tramway in Addis Ababa. Chinese firms have also stepped up engagement in Ethiopian manufacturing and upped their supply of manufactured goods exported from China. Ethiopian Airlines has a new $150 million cargo terminal under construction that is scheduled to be completed by April.
Tom Jackson, 4:42 am AFKI Original
Another year, another milestone for the African technology space. With things developing at a rapid pace, it is hard to predict what will be the next big innovation in this exciting sector. Let’s have a go, in any case. Drones seem to have been a topic of discussion for a long time, yet in Africa we haven’t seen much of them. That is probably about to change. The continent is no longer deemed a risky place to do business, but rather digital’s “final frontier”.
Kevin Mwanza, 6:32 am
M-Pesa, the world’s largest mobile money network, could be the key to poverty eradication in the developing world based on its success in Kenya where almost 200,000 households headed by women are living above the poverty line as a result of the innovation, according to a study by Journal Science. The service, owned by telecom service provider Safaricom has economically improved the lives of many families in rural parts of East Africa’s biggest economy in the last six years.
Tom Jackson, 2:01 am AFKI Original
Africa is increasingly establishing itself as a hotbed of tech innovation, and 2016 was packed with further progress. From Cairo to Cape Town, from major players to the smallest startups, African tech is developing at a startling pace. But what were the major developments on the tech scene over the course of 2016? Increasingly, investors are seeing Africa as an opportunity rather than a risk, and the tech space in particular is proving itself able to withstand the general slowdown.
Staff, 7:19 pm
Countries conventionally seen as resource-poor, like Ethiopia and Rwanda, maintained higher growth in 2016 — as high as 8% in agriculture-heavy Ethiopia, despite the worst drought in decades. Successful African economies focused on expanding and diversifying to attract foreign investment. Some economists predict improvement in African economies in 2017 as commodity prices rise. Others are less optimistic that resource-dependent countries can change tack at this point. Diversification doesn’t happen overnight.
Dana Sanchez, 11:00 am
Africa is a paradise for birdwatchers with almost 2,500 bird species. Topping the list is Democratic Republic of the Congo with 1,139 species, followed by Tanzania, Kenya, Angola, Nigeria, Cameroon and Ethiopia. An African eagle, the bateleur is the national emblem of Zimbabwe. Endemic to Africa, it’s one of the most colorful birds of prey with jet black plumage, a scarlet face and orange feathers down the back. In 2009, this bird was listed as “near threatened” due to a drop in population. The bateleur spends as much as 80% of the day in flight, covering up to 300 miles in search of food.
Kurt Davis Jr., 4:29 pm AFKI Original
A sense of what Zimbabwe can expect post-Mugabe. Partnership in the fight against terror for Tunisia. Better strategies combating poverty and HIV in Swaziland. These are just a few of the wishes that a U.S. investment banker visualizes for African countries as the old year winds down and 2016 gives way to 2017.
Peter Pedroncelli, 5:37 am
Telecommunications giant Orange has concluded a new long-term partnership deal as official sponsors for the Confederation of African Football (CAF) flagship competition. The new eight-year deal will see the France-based company confirmed as an official sponsor of five major CAF competitions from 2017 to 2024, beginning with the 2017 Africa Cup of Nations (AFCON) in Gabon this January.
Staff, 4:53 pm
Ethiopia’s controversial Gibe III dam got an official inauguration Saturday. UNESCO has condemned it. Human rights groups say it has displaced people in the Omo Valley and will decrease water downstream all the way to Kenya’s Lake Turkana. A far more controversial Ethiopian dam, Africa’s largest ever, is scheduled for completion in 2017. The Grand Renaissance Dam will produce the equivalent electricity of six nuclear reactors.
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