Tag Archives: foreign investment
foreign investment: Latest News
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, 12:02 am
You’d be hard pressed to find a country in the world that has cheaper labor than Ethiopia. However, manufacturing as a share of GDP in Ethiopia is 5 percent, well below the African average of 10 percent. The country also scores below the African average on diversification, export competitiveness, productivity and tech upgrading. Despite this, it’s not a long shot to predict that Ethiopia will soon catch up with countries like China and Vietnam in some low-tech manufacturing industries. These are industries for which labor costs are very important. Beyond these obvious industries, there are reasons to believe Ethiopia might be on the right track to catch up with more advanced economies.
Kevin Mwanza, 7:40 am
Foreign investment in Nigeria plunged 74 percent in the first three months of this year mainly due to foreign exchange restrictions that have made it difficult for investors to repatriate their earnings from the West African nation. Capital Economics Africa said in a report quoted by BARRON’S that investment into Africa’s largest oil producer dropped to just $711 million in the first quarter, 74 percent less than they did in the same period in 2015.
Dana Sanchez, 11:45 am
Africa’s super wealthy have invested heavily in luxury homes, private jets, cars, bonds and equities. They collect wine, art, antiques, jewelry and classic cars, and are expected to do more of that in the coming decade. “Homes comprise an estimated 22 percent of assets owned by Africa’s super wealthy and they have allocated 33 percent of their portfolios to liquid investments such as bonds and equities,” according to a new wealth report.
Dana Sanchez, 10:37 am
After two months of protests left 140 dead, Ethiopia abandoned development plans for Addis Ababa into neighboring Oromia state, but the problem hasn’t gone away. Now the government must pick a site for its latest mega project — an airport with the world’s largest passenger capacity. Rejecting official plans is unprecedented and historic in Ethiopia, suggesting the government acknowledges the legitimacy of the recent protests, during which several businesses were attacked.
Staff, 4:24 am
Investment facilitation company, Naseba, is upbeat about enormous potentials in Africa, especially West Africa, where it wants to direct a portion of a large pool of funds it manages on behalf of high net worth clients. The Chairman of the France-head-quartered investment facilitation firm, Mr Scott Ragsdale, said during a two-day fact-finding visit to Ghana that for the next two years, Africa would be his personal focus, as it tried to help its clients access good returns on their investments.
Staff, 12:17 am
Africa is now the fastest growing region for foreign direct investment (FDI) in the world. From 1990 to 2013, FDI inflows in Africa increased 19-fold from $3 billion to $57 billion. This trend, and FDI in general, is typically seen as a good thing for low-income countries. And especially in Africa, where most countries have small stocks of savings, attracting FDI in order to grow the economy and create jobs can be crucial.
Dana Sanchez, 4:35 pm
Travel and tourism were responsible for 10.3 percent of Ethiopia’s gross domestic product in 2013, and 9.5 percent of all Ethiopian jobs, but the industry is having a hard time attracting foreign hotel investment, a stakeholder said. The Sheraton Hotel In Addis Ababa will play host to the Africa Hotel Investment Forum 2015 on Sept. 30 and Oct. 1 in hopes it will stimulate and attract much needed foreign hotel investment in Ethiopia, according to a report in EthioSports.
Staff, 1:00 pm
From Bloomberg/Written By Olivier Monnier The Ebola outbreak slowed down French investments in Ivory Coast, the world’s top cocoa producer, even if there were no recorded cases of the disease in the West African nation. “We’ve seen a slowdown in investment decisions and in the start-up of some projects,” Gilles Della Guardia, West Africa chief […]
Kevin Mwanza, 6:22 am
Foreign investment into Rwanda dipped in 2014 due to what the chief executive of the Rwanda Development Board (RDA) says was uncertainty in the global outlook that cut number of business traveler to the tiny east African landlocked country and misconceptions about Ebola spread in Africa. FDI to Rwanda dropped by 12 percent to $390 million, from $445 million the previous year.
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