Ethiopia | - Part 3

Ethiopia Eyes Role in DP World-Managed Port in Somaliland

ADDIS ABABA (Capital Markets in Africa) – Ethiopia is in talks to acquire shares in a joint venture involving DP World Ltd. that will manage a port in northern Somalia, a Somali official said, a move that could give the fast-growing yet landlocked Horn of Africa economy its first stake in foreign docks. Somaliland, a semi-autonomous territory that aspires to statehood, has agreed “in principle” to give Ethiopia a 19 percent share in the venture administering Berbera…

FinTech and the Positive Transformation of Banking in Africa

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The impact of Blockchain, Open Banking, Mobile Money and Payments innovation are radically transforming the financial services landscape as FinTech disruptors intensify the challenge to Incumbent Banks in Africa and kickstart new opportunities 25th May 2017, Addis Ababa, Ethiopia: The unique environment for financial services in Africa is fertile ground for innovative FinTech players who are capitalizing on the opportunities to disrupt or leapfrog established business models to make ﬁnancial services more affordable, accessible and…

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

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LAGOS (Capital Markets in Africa) – Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country. The restaurants are scheduled to begin serving in the capital, Addis Ababa, by November, franchisee Aschalew Belay said in an interview Monday. Aschalew’s company, Belayab Foods and Franchise, will run the local outlets of the Yum! Brands Inc. pizzeria and will have invested $5.5 million…

Ethiopia’s Foreign Investment Stalls After Attacks on Businesses

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Addis Ababa (Capital Markets in Africa) – Foreign investment in Ethiopia is stalling after a series of demonstrations against international companies. Investment was about $500 million in the three months ended Oct. 10 compared with the same period a year earlier, according to Investment Commissioner Fitsum Arega. Foreign investment had gained 20 percent a year on average for the past six years, including a 50 percent jump last year, he said by phone from Addis…

African Trade Insurance Agency (ATI) officially open for business in Ethiopia and Zimbabwe

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NAIROBI, Kenya, October 19, 2016/ — At a press conference, the CEO of the African Trade Insurance Agency (ATI), George Otieno, along with H.E. Dina Mufti, the Ethiopian Ambassador and Gabriel Negatu, Regional Director, African Development Bank announced today that it is ready to begin covering transactions in Ethiopia and Zimbabwe. After a year-long process that was supported with funds from the African Development Bank, both countries are now members. The announcement will give investors…

Ethiopian protesters attack factories in Africa’s rising economic star

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ADDIS ABABA (Capital Markets in Africa) – Protesters in Ethiopia damaged almost a dozen mostly foreign-owned factories and flower farms and destroyed scores of vehicles this week, adding economic casualties to a rising death toll in a wave of unrest over land grabs and rights. The violence has cast a shadow over a nation where a state-led industrial drive has created one of Africa’s fastest growing economies, but where the government has also faced rising international…

IMF Cuts 2017 GDP Growth Outlook for Africa’s Largest Economies

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LAGOS (Capital Markets in Africa) – The International Monetary Fund has cut its 2017 economic growth forecasts for Africa’s two largest economies as low commodity prices, policy uncertainty and weak investor confidence weigh on output. Gross domestic product in South Africa will probably expand 0.8 percent next year, compared with the 1 percent forecast in July, the Washington-based lender said in its World Economic Outlook Report Tuesday. Nigeria’s economy will contract 1.7 percent this year and expand 0.6 percent…

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