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Bumpy Economy
Stretching Means |
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Estimates of the future population size and growth rate of Ethiopia
with an assumption of moderate fertility decline
indicate a substantial increase in the coming years.
Though the growth rate declines gradually, the
population is expected to increase from 80.4 million
to 94.5 million in 2015 reaching 106 million in
2020, according to world population prospects
published by the United Nation in 2010. Even if the
economy grows by 11pc on average for the next ten
years, it is inadequate to ease or overcome the
deficits accrued in past decades, or bring the
country into sustainable resource-population
equilibrium as the result of the unbalanced growth
in nominal GDP and per capita income due to high
population growth rate. For the next ten years, GDP
and per capita income is expected to increase by
91pc and 45pc, respectively.Find
Out More. |
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NEWS |
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New Law Puts Private Possessions under Lease |
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Unlike the previous two lease laws that have been
passed, the urban land lease holding proclamation,
passed on Tuesday, October 12, 2011, heard hardly
any debate or discussion. |
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Tax Authority Hunts for More Back Taxes |
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Continuing its investigation into oil companies, the
Ethiopian Revenues & Customs Authority (ERCA) has
found that it is owed millions in unpaid back taxes.
It has identified unpaid taxes by Total Ethiopia and
National Oil Company (NOC), sources disclosed to
Fortune. |
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Staffs of Dev’t Agencies say Less is Better for GTP |
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Just after a year it was submitted to development
agencies, the Joint Staffs have released a full
analysis of the government’s five-year economic plan
questioning the ability of the government to secure
funds for its ambitious plan and criticizing its
lack of prioritization. |
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Ban on Distance Education, Programs Being Evaluated |
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After lodging its complaint to the Higher Education
Relevance & Quality Agency, the ranking of Alkan
Health College’s degree program has been modified as
having fulfilled the minimum requirement. |
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Addis Gets New Model |
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The first phase of the construction of the model of
Addis Abeba, made by the Ethiopian Institute of
Architecture, Building & Construction Management (EiABC)
at a cost of 1.3 million Br is to be delivered to
the Urban Planning & Information Institute (UPII) at
the end of this month. |
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Draft Directive Weighs on Exporters |
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The Ethiopian Horticulture Development Agency (EHDA)
is drafting a new export management directive, which
is expected to take effect this month, that changes
the unit of measurement of flowers to kilograms as
opposed to stems in calculating repatriated foreign
exchange. |
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SMS Tech for Health to Launch Next Week |
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A pilot project to use mobile phones to enable
health professionals to collect data, have it
analyzed and give feedback is to be launched next
week at a projected cost of around 370,000 dollars.
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Karuturi to Outsource Ethiopian Land to Indian Farmers |
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Karuturi Global, which is aggressively rolling out
an agriculture business venture in Ethiopia, is
looking at outsourcing 20,000ha of farm land it had
taken to Indian farmers on a revenue sharing basis. |
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Businesses in Hawassa Start Using Cash Register Machines |
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Businesses in Hawassa, in the Southern Regional
State, have joined the ranks of those which are
using cash register machines, starting Thursday,
October 13, 2011. |
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ECX Board to Review Proposal to Include Two New Commodities |
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A proposal to introduce chickpeas and sorghum on the
Ethiopia Commodity Exchange (ECX) is to be presented
to the board of directors of the exchange in the
coming months. The ECX announced its plan to
introduce these commodities on the exchange floor
this year along with Teff during its fourth national
forum held at the Sheraton Hotel on October 7, 2011. |
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Libya Oil Sues Chinese Co for 2.3m Br |
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The Federal High Court Eight Civil Bench has frozen
2.5 million Br belonging to Sino Hydro Corporation,
a Chinese firm which was awarded the construction of
Gilgel Gibe IV, following a suit filed by Libya Oil
Ethiopia Limited claiming unpaid money for fuel it
supplied. |
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/INTERVIEW
REGULATORY PUZZLE
Neither Puritan Advice Nor Judgment |
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Being a conglomerate of five interdependent groups, the
World Bank Group (WBG) is a crucial player in the
contemporary development of its 184 member countries around
the world. The private sector arm of the WBG, the
International Financial Corporation (IFC), is involved in
the private sector development of countries through direct
investment and joint ventures. It’s Eastern and Southern
Africa section, headquartered in Nairobi, Kenya, supports
that region’s countries with investments and advisory
services. Regional director Jean Philippe Prosper,
responsible for the annual investment portfolio of two
billion dollars in 2010/11, in an exclusive interview with
GETACHEW T. ALEMU, OP-ED EDITOR, emphasized that the
regulatory framework in Ethiopia should be improved, though
it is certainly not the worst in Africa or the world. |
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/FEATURE
Second-Hand Shoes
First Choice for Customers |
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Second-hand shoe markets are rife in the city, with
customers choosing to buy worn in shoes rather than buying
new ones. There are those who choose to do so claiming to
find better qualities or for their cheaper price making
business for the vendors of the shoes, which are
contrabands, reports HRUY TSEGAYE, FORTUNE STAFF WRITER, as
he walks in some of the vendors and customers’ shoes. |
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/FEATURE
Power Load, Interruption Unloads on Businesses |
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In the hustle bustle of the city, with all the small
businesses that line up the streets and situated in the
nooks and crannies, Addis Abeba gives the impression that
businesses are running smooth. |
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