Ethiopia: Latest News
Staff, 3:13 pm
Morocco’s investment in sub-Saharan Africa the past decade represents 85% of its overall foreign direct investment stocks. The story of its national carrier, Royal Air Maroc, testifies to its expansive economic ambition on the continent. Morocco has expanded economic ties with many African countries through trade and investments since it left the African Union. It now seeks to return to the A.U., boost these ties and settle the unresolved matter of the Western Sahara. It has support of 28 African countries. Leaving the A.U. was a “strategic mistake,” a stakeholder said. “Africa is our natural home.”
Staff, 12:02 am
Private equity opportunities in Africa are often seen as too small for the giants of the buyout industry. The former regional heads for Africa at private equity giants KKR and Carlyle are setting up an investment firm that will focus on the mid-cap, “where we believe the bulk of opportunities are,” a stakeholder said. The new firm will look for ventures which are ready to absorb up to $100 million but will mostly focus on opportunities requiring between $20 and $60 million of equity, Reuters reports.
Dana Sanchez, 5:03 pm
Democratic Alliance opposition leader Maimane met this week with the Palestinian and Israeli business leaders to discuss how trade can be used for peace when politics fail. Zuma has endured overwhelming criticism from South Africans over corruption. Citizens voiced their displeasure at the polls in the August municipal elections. All major South African areas are now controlled by the DA except for Durban, Bloemfontein and Kimberley. Zuma needs a place to hide, a critic said. The narrative of the “oppressed” is a safe place for him.
Dana Sanchez, 11:08 am
Microsoft co-founder and philanthropist Bill Gates invested $9 billion in Africa over the course of 15 years, and said he plans to spend another $5 billion there in the next five. The world’s richest man says Africa is proof that life is getting better for more people. His optimism is not universal. His funding of GMO research to improve crop yields and reduce famine has been controversial. Anti-GMO voices don’t deter him. Here are five reasons why Gates said he sees the glass as more than half full in Africa.
Dana Sanchez, 11:24 am
Built in China, paid for by China, built by Chinese, operated and maintained by Chinese — news media reports often describe the newly refurbished, high-speed Addis Ababa-Djibouti Railway as a project in which China is fully vested. But China didn’t finance the entire railway by a long shot. Ethiopia and Djibouti financed about 45 percent of the Addis Ababa-Djibouti Railway.
Dana Sanchez, 11:20 pm
Foreigners have been invited to invest in Ethiopia’s state-owned shipping and logistics company. Will telecommunications and banks be next? Ethiopia is one of the last African countries to have a state monopoly in telecoms. The U.S. hopes to bring its technology, know-how and managerial skills to Ethiopia. The American Chamber of Commerce of Ethiopia was launched in November. “The private sector needs a level playing field that allows fair competition with state-owned enterprises,” a U.S. stakeholder said.
Staff, 1:01 am
Obama should instruct the U.S. State Department to designate ivory poachers for what they are: Terrorist financiers and facilitators of ISIS- and al-Qaeda-affiliated groups in sub-Saharan Africa. Make the life expectancy of poachers so short that no one will risk taking the job. And that requires a few well-placed military drone strikes on poaching camps from any number of our established drone bases in Djibouti, Niger, Kenya, Ethiopia, Somalia, South Sudan, Burkina Faso or the Seychelles.
Dana Sanchez, 12:02 am
If you own a mobile phone, chances are it has tantalum in it from Africa and you have small amounts of the rare metal within inches of your brain. U.S.-based AB Minerals claims to have invented a new disruptive tantalite processing technology that it says will enable tantalum-producing countries to add value to the ore themselves rather than exporting raw ore to China. The company hopes to sell this technology all over Africa. The first African plant is expected to begin operating in Rwanda in 2017. Here’s part of an interview with AB Minerals founder and CEO Frank Balestra.
Dana Sanchez, 10:57 am
A scholarly tradition tied to agriculture, stargazing in Ethiopia predates Christianity. Some historians argue that the first study of celestial bodies can be traced back to Ethiopia. Ethiopia’s space ambitions could make it the first country in the Horn of Africa and Northeast Africa to become a space power. Developing satellites and rocket launchers locally in Ethiopia could prompt Kenya, Uganda, Egypt and even Sudan to accelerate their own space ambitions.
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.
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