Ethiopia: Latest News
Dana Sanchez, 9:50 pm
For ambitious young U.S. soldiers seeking leadership, a deployment in Africa is hard to beat. And that means being based in Djibouti. Djibouti’s status as a stable country in an otherwise volatile region is an asset worth millions of dollars in rent. Djibouti enjoys a lucrative role as a landlord. The U.S. pays $63 million a year to rent its base at Camp Lemonnier. China is building a base 8 miles away, and will be paying $100 million for theirs.
Lillian Mutiso, 11:40 am AFKI Original
In November 2015, protest broke out Oromia state, one of the largest provinces in Ethiopia. Earlier in the protest university students in Oromia clashed with ant-riot police as they rejected plans by the government to expand the capital city Addis Ababa into the state. The protest quickly turned violent as more people joined the students in the riots. Human Rights Watch (HRW), a global rights agency, estimated that hundreds of people have been killed during the on-and-off protests
Kevin Mwanza, 7:58 am
FirstRand Limited, a South African bank and the leading lender by market value on the continent, plans to buy assets in Nigerian, as it seeks to capitalize on the global fall in commodity prices that has pushed down asset valuation in Africa’s biggest economy. The plan comes five years after the lender decided against buying majority shares in Sterling Bank Plc because of high prices in shares. Naira, the national currency fell to a record low of 309 against the dollar, in July further lowering asset valuation in the nation.
Dana Sanchez, 3:18 pm
Rwanda, with the world’s first drone port under construction, also has a new international airport planned and recently took possession of its first wide body aircraft — an investment expected to open up new markets. RwandAir has its eye on the U.S., Europe and Asia, with 25 targeted destinations by 2018. The 7-year-old airline has yet to turn a profit, but the government plans to build a new airport to accommodate four times more passengers than Kigali can handle.
Kevin Mwanza, 2:53 pm
Protesters in Ethiopia have attacked and burnt machinery and trucks at Dangote Cement factory in Ada Berga, a company owned by Africa’s richest man, Aliko Dangote. Dangote opened the plant in June, last year. It cost $ 600 million to build. They also set-ablaze a court-room and government-owned vehicles and allegedly freed prisoners after torching a police station in the Bule Hora area. The demonstrators were protesting against the deaths of about 100 people in a stampede on Sunday
Kurt Davis Jr., 1:34 pm AFKI Original
African private equity deals fell to $2.5 billion in 2015, compared with $8.1 billion in 2014. Fundraising and transactions are expected to be down further in 2016. It is time to buy for 2017. Market expectations are low in some places, so asset prices are low. Logistics and financial services – going against the past market movement – are huge opportunities if you can buy in at low asset prices and ride the unavoidable African rebound in the next year and beyond.
Kevin Mwanza, 6:43 am
At least 100 were killed and scores others injured in a stampede in Ethiopia after police fired teargas and warning shots at a crowd that had attended an annual cultural festival of the Oromo people in Bishoftu town, south of the capital, on Sunday. The civilians were holding Irreecha, an annual thanksgiving festival held by the Oromo community for the end of rainy season. Chaos broke after the celebrants chanted ‘We need freedom, we need justice’, a move that prevented elders from addressing them.
Staff, 4:45 am
Many innovations in Africa fail to materialize due to of lack of knowledge about registering intellectual property. Resident applications for patents are low in African countries. In 2014, there were 132 patent applications in Kenya, 14 in Zambia and five in Rwanda compared to over 280,000 in the U.S. and 19,000 in the U.K. The registration of copyright in many African countries has not taken off and this data is not taken into account in economic surveys. Microsoft’a online IP registration system replaces traditional paper-based forms.
Staff, 12:01 am
Hip hop as a tool for musical expression is the tool of choice for young Ethiopian Israelis. This choice reflects the deep identification young Ethiopians have with the hip hop and rap music culture. Israel’s millennials, or at least those who attended the Oasis festival, appear to reject the Israeli reality of separation and racism aimed at Ethiopian Jews. There were almost no performances by Ethiopian musicians at the festival, but there were hundreds of young people singing the songs of those groups.
Tom Jackson, 4:36 am AFKI Original
With their links to industry, access to research, and top drawer facilities, universities can be a catalyst to a Silicon Africa. This is not something that has been the case too often, thus far at least. But, in certain cases, such as the C4DLab at the University of Nairobi and the LaunchLab at Stellenbosch University, universities are realizing they have an important part to play
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