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  • EY Says Ethiopia Will be Africa’s 3rd Largest Economy by 2017


    Ethiopia is projected to be the third largest economy in the Sub-Saharan Africa by 2017, says Ernst and Young’s (EY) study titled “Investing in Ethiopia”.

    The study states the prominent ten reasons for investing in Ethiopia and it was presented by EY Ethiopia Managing Partner Zemedneh Negatu.

    “In 2014, the star performer in Africa in terms of FDI was Ethiopia … Ethiopia accounted for one in five FDI jobs in Africa - this is the kind of FDI we need in Africa,” Zemedeneh noted.

    The ten prominent reasons to invest in Ethiopia are growing economy, demographic and geographical advantages, rapid urbanization, and opportunities in the manufacturing, infrastructure, extraction, agriculture and tourism sectors.

    According to the report, “Ethiopia will very likely achieve its Middle Income target by the year 2025 (if not sooner) and become one of the more significant and consequential economies in Africa and a new investment destination for global investors.”

    The EY report was presented at Sheraton Addis Hotel. High-level government officials, including Ethiopia’s Prime Minister Hailemariam Desalegn and business executives attended the presentation.

    Source: Capital


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  • Bishop defends African aid cuts that will end Ethiopian donkey library

    Foreign Minister Julie Bishop has defended the level of aid to Africa’s poorest countries amid revelations an Ethiopian donkey library is at risk of closing next year.

    The federal government has slashed the aid to Africa by 70 per cent as part of a $1 billion cut this financial year and an overall reduction of $11.3 billion.

    The mobile library on the outskirts of Addis Ababa is part of an Australia-funded Plan International child development project helping 1572 children.

    The six-year project looks likely to end three years early, despite hopes it would be scaled up to reach more than 4000 children in the next two years.

    But Ms Bishop says it is better to focus aid efforts on the immediate neighbourhood, particularly the Pacific.

    “For historical and geographical reasons, Europe and the United States are the leading donors to Africa,” she said in a statement to AAP.

    Source: www.sbs.com.au


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  • Politico says US health system can learn from Ethiopia

     “5 Things We’re Watching” this week, we’re highlighting a national perspective.

    Politico puts out a daily health policy newsletter called “Pulse.”  It’s one of the better things which appears in my inbox every morning.

    But earlier this month, they made an interesting observation from the recent Aspen Ideas Festival.

    Really?  Ethiopia?  Is the US health system really that bad?

    Sure, we can learn from other countries.  And, those don’t have to be only industrialized, developed countries, like the UK or Italy.

    But we have a strong community health worker program in various parts of Washington State. The Foundation for Healthy Generations is leading some of that work and testified before the legislature this year on the topic.

    I don’t believe it’s un-American to say the US health system produces highly varied, low quality health care in many instances – in fact most.

    But that smart, experienced journalists suggest that we can learn from Ethiopia to improve our system strikes me as a sign that we are worse off than we really allow ourselves to admit in the US health system.

    Source: stateofreform.com


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  • Ethiopia launches its first geothermal well

    Ethiopia has launched its first geothermal well which was drilled and has successfully discharged steam. The project which was part of the Aluto Langano Geothermal Project supported by the Japanese government was started in 2010.

    Ethiopia’s Water, Irrigation and Energy Minister Alemayehu Tegenu and Japanese Ambassador Kazuhiro Suzuki were present to launch the geothermal well.

    According to the Japanese Embassy Press release, the project was launched in 2010 with financial assistance from the Government of Japan and the World Bank, and has been implemented jointly by the Ethiopian Electric Power (EEP), the Geological Survey of Ethiopia (GSE) and Japan International Cooperation System (JICS) and West Japan Engineering Consultants (West JEC).

    Source: constructionreviewonline.com


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