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Published On  Oct 16,  2011
   
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Bumpy Economy

Stretching Means

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.


NEWS
 
 

New Law Puts Private Possessions under Lease

 

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

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 Devít Agencies say Less is Better for GTP

Just after a year it was submitted to development agencies, the Joint Staffs have released a full analysis of the governmentís 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

After lodging its complaint to the Higher Education Relevance & Quality Agency, the ranking of Alkan Health Collegeís degree program has been modified as having fulfilled the minimum requirement.

     

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Addis Gets New Model

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

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

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

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

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

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

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

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. Itís Eastern and Southern Africa section, headquartered in Nairobi, Kenya, supports that regionís 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

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 customersí shoes.

     

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/FEATURE

Power Load, Interruption Unloads on Businesses

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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