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Africa’s economic growth in 2016 was driven by East Africa
While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP increase, behind only South Asia, according to the African Development Bank Group (AfDB).
Much of Africa’s increase in 2016, AfDB says, was driven by East Africa where several nations recorded “strong performances.” In general, of the continent’s sub-regions, East Africa posted the highest increase rate with 5.3%, led by Ethiopia.
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Africa property offers rich pickings for the brave
Some property pundits believe there are major opportunities for investors or companies on the continent.
While most pundits will acknowledge that the saying “Africa is not for sissies” rings authentic at the same time as it comes to property investment , some commentators believe that there are major opportunities for investors on the continent.
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Bill Gates sees US likely to maintain aid levels for Africa
The US will probably maintain its current levels of aid to Africa despite President Donald Trump’s proposals to slash funding, according to Bill Gates, the world’s richest man.
Trump said in May his government would no longer allocate funding for family planning, a move that has the potential to undermine aid programs in the poorest nations in the world. However, with Congress in control of the budget, it’s unlikely that all cuts proposed by the Trump government will go ahead next year, Gates said in an interview in Dar es Salaam, Tanzania’s commercial capital.
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- Key Facts
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Full name: Federal Democratic Republic of Ethiopia
Population: 84.7 million (UN, 2011)
Area: 1.13 million sq km (437,794 sq miles)
Major languages: Amharic, Oromo, Tigrinya, Somali
Major religions: Christianity, Islam
Life expectancy: 58 years (men), 62 years (women) (UN)
Monetary unit: 1 Birr = 100 cents
Main exports: Coffee, hides, oilseeds, beeswax, sugarcane
GNI per capita: US $390 (World Bank, 2010)
Internet domain: .et
International dialling code: +251
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Top 10 Most Attractive Investment Destinations In Africa
2017/08/20Africa’s feverish increase has decelerated in recent years and a lot of nations have buckled under the pressure of falling resource prices, security disruptions, fiscal imprudence and adverse weather conditions.
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Africa's Relationship With China Is Ancient History
2017/07/02In 2002 South Africa's Parliament unveiled a digital reproduction of a map - of China, the Middle East and Africa - that some speculated could be the initial map of the African continent. The Da Ming Hun Yi Tu - the Comprehensive Map of the Great Ming Empire - was drawn up around 1389 during the Ming Dynasty, according to historian Hyunhee Park.
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Climate change laws around the world
2017/05/14There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.
The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.
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Africa’s 20 most attractive countries for investors – Ernst & Young
2016/05/16Despite its economy slowing down, South Africa remains Africa’s most attractive country for investors, according to the 2016 Ernst & Young Africa Attractiveness Index.
The statement evaluates evolution made in governance, diversification, infrastructures, business enablement, human development inclunding resilience to current macroeconomic challenges.
Morocco is ranked second on the index, followed by Egypt, Kenya, Mauritius, Ghana Botswana, Tunisia and Rwanda. Cote d’Ivoire comes tenth.
Africa’s top economy, Nigeria comes 15th, mainly because of its poor performances in terms of governance and human improvment(See full ranking below).
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Ato Mekuria Haile, Minister of Urban Development and Housing
2015/12/19Ato Mekuria Haile, Minister of Urban Development and Housing, provides an exclusive insight into the country’s social, economic and human resources development, and discusses why investors should take a closer look at Ethiopia.
Christine Lagarde said last year at the IMF’s Africa Rising conference in Maputo that Africa has three challenges: build infrastructure, build institutions, and build people. Please discuss Ethiopia’s efforts in this regard and how your Ministry has a key role in it.
I think this is a very critical point for any developing country. In the case of Ethiopia, at the same time as we were planning the strategy we have to make sure that our plan gets implemented. The critical point of this schedule was capacity building and the implementation of capacity building plan. So, at the same time as we talk about capacity building we are talking about our human resources, about the systems development and the functional structure in place. This is because it is the sum of these three issues that gives you an institution implementation capacity definition.
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Africa: Making Things Happen at the Bank - 'Not a Talk Shop' - Akin Adesina
2017/07/02Dr. Akinwumi Adesina is focusing on five areas to achieve the African and world goals for a prosperous continent since becoming president of the African Development Bank - Africa's major public financial institution in September 2015. He was a keynote speaker at this month's Corporate Council on Africa's U.S.- Africa Business Summit in Washington D.C. and moderated a lively panel with five African government ministers. He as well received the Gene White Lifetime Succcess Award from the World Child Nutrition Foundation. This week, he was named the 2017 recipient of the World Food Prize, a prestigious honor that includes a $250,000 award. In an interview in Washington, DC, Adesina discussed the Development Bank's ambitious schedule and his vision for attracting the increase capital Africa needs. Posting questions for AllAfrica was Noluthando Crockett-Ntonga.
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Yehuala Gessesse, President of Abay Bank
2016/03/16Targeting the diaspora, farming communities and SMEs, Abay Bank’s profits have been rising on average by 78% annually, and were up 122% last year alone. Yehuala Gessesse, President of Abay Bank, outlines its strategy to reach additional of the people and keep it on such an impressive increase trajectory, and why investors should take a look at Ethiopia.
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Aisha Mohammed Mussa, Minister of Culture and Tourism
2016/02/05Ethiopia’s Minister of Culture and Tourism, Aisha Mohammed Mussa, explains the details behind the additional impetus Ethiopia’s government is adding to its tourism sector development and promotion to reach and indeed surpass the ambitious increase targets it has set for 2020.
Having such a vast completed and culture, what would you say makes Ethiopia different from other tourism destinations?
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Gosaye Mengistie Abayneh, CEO of Ethiopian Electric Utility (EEU)
2016/01/29Ethiopia sent out a loud and clear message to the world with its Climate-Resilient Green Economy Strategy it adopted to be a carbon neutral economy by 2025: next development is to be fueled by greener power. Gosaye Mengistie Abayneh, CEO of Ethiopian Electric Utility (EEU), explains the country’s vast potential for renewable energy, their vision to interconnect African energy supplies, and Ethiopia’s win-win opportunities for its investors.
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Ethio telecom
2012/12/16Ethiopia has had an increasing GDP of extra than 10% for extra than 5 years now, which is foreseen to be the third-most dynamic increase after China and India till 2016. How do you explain this undergoing dynamic and how do you explain Ethiopia's increase?
I think there is a very targeted and strong investment policy, which we as well find in the telecoms industry, because Ethiopia had fallen back regarding telecoms but they are catching up at a great pace.
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2013 marked the 10th anniversary of the establishment of the All-round Cooperative Partnership between China and Ethiopia.
2015/10/02The year 2013 marked the 10th anniversary of the establishment of the All-round Cooperative Partnership between the People's Republic of China and the Federal Democratic Republic of Ethiopia. China-Ethiopia relations continued to grow from strength to strength and cooperation in various areas was deepened.
The two nations had frequent high-level exchanges and further deepened their political mutual trust. On 28 March, President Xi Jinping met with Prime Minister of Ethiopia Hailemariam Dessalegn on the sidelines of the fifth BRICS Summit in Durban, South Africa.
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Addis Ababa
2012/12/16Addis Ababa, is the capital city of Ethiopia. It is the largest city in Ethiopia, with a population of 3,384,569 according to the 2007 population census. This datum has been increased from the originally published 2,738,248 figure and appears possibly largely underestimated still.
- Ethiopia News
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- ECONOMY: Africa’s economic growth in 2016 was driven by East Africa
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- LOCAL GOVERNMENT: Ethiopia Lifts State of Emergency Imposed in October
- PEOPLE: Children on the move from Africa do not first aim to go to Europe, new UNICEF study shows
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