Ethiopian Business Review

Kombolcha IP Plans to Boost Exports of Textile Products

Tuesday, 17 September 2019 06:36 Published in News

Kombolcha Industrial Park revealed its plan to further boost exports of textile products as international manufacturing companies pledged to intensify their output inside the premises of the park.

 

With the growing production of export-bound textile products by the foreign firms operating inside the industry park, the monthly foreign exchange earned from the shipments of products has also reached close to a million dollar in July 2019.

 

Ahmed Seid, General Manager of the Kombolcha Industrial Park, said that the foreign textile producing companies are now undertaking their operations inside the industry park, in which a South Korean firm Pungkook Ethiopia Bag Manufacturing Company was the first enterprise to commence the export of good from the industry park in June last year.

 

The South Korean firm, which was also the first company to start its operations inside the Kombolcha industrial park, has been also joined by other manufacturing firms.

 

The park currently hosts nine international standard factory sheds that have been transferred to six international companies - 3 Chinese, 2 South Korean and 1 Italian - that are specialized in manufacturing export-oriented textile and garment products, according to Ahmed.

 

The industrial park was built by China Civil Engineering Construction Corporation (CCECC) with a contract amount of USD94 million.

 

Ever since the inauguration of the park in July 2017, ithas created close to 2,000 job opportunities.This is expected to reach 20,000 when planned expansion projects completed.

 

The Ethiopian government’s future expansion ambition inside the Kombolcha IP also includes second phase construction plan, which is expected to embrace other zonal areas, including Dessie town.

 

The industrial park, located in less than 480-km from the Djibouti port, is advantageous for companies and investors in leveraging their quest to easily access port.

 

Top 10 Biggest Economies in Africa

Sunday, 15 September 2019 12:00 Published in Statistics

Africa’s Gross Domestic Product (GDP) constitutes four percent of the USD89 trillion global GDP in the past year, up from 2.1Pct in 2016. The GDP expansion is largely supported by the Sub-Saharan Africa growth, which the International monetary Fund (IMF) forecasted at 3.4Pct in 2019 and 3.6Pct for 2020. The GDP of sub-Saharan Africa reached USD2.371 trillion in 2018.

Gains, Pitfalls of Raising Excise Tax

Sunday, 15 September 2019 06:00 Published in Focus

Excise tax contribution to the total tax revenues has been decreasing in the past decade, but this will be reversed very soon. The government is planning to increase excise tax levied on items including tobacco, alcoholic products, and vehicles. Many worry that this would bring unintended consequences, including paving a way for the illegal market to thrive, on top of exposing consumers to higher prices. EBR’s Kiya Ali delves into the subject to offer this report.

Hager Fikir

Sunday, 15 September 2019 03:00 Published in Art & Life

Antique Theatre House, Desperate for Change

Established in 1935, Hager Fikir Theatre is the oldest indigenous theatre in Africa. Known for its immense contribution during the patriotic resistance against the Italian aggression, the Theatre passed through many challenges while producing hundreds of plays largely aimed at uniting the citizens of the country. Being a place where many Ethiopian renowned artists were nurtured, the Theatre contributed greatly in the growth of modern music and drama. In connection with its 84th year anniversary, EBR’s Kiya Ali profiles the Historical Theatre.

Domestic Violence No End in Sight?

Sunday, 15 September 2019 03:00 Published in Society

Domestic violence is a global pandemic and a form of human rights violation. One in three women experiences violence from an intimate partner worldwide. This is more common in developing countries in general and  Ethiopia in particular. With the rising level of reported abuses against women by their intimate partners, the problem has become a cross-cutting issue interlinked with everyday routines. EBR’s Kiya Ali spoke with victims, psychologists, government officials and legal experts to shed light on the matter.

Reforming the Ethiopian Financial Sector

Sunday, 15 September 2019 03:00 Published in Commentary

one successful country’s experience

Financial reform in Ethiopia has an interesting history. The issue has been an important agenda in the Ethiopian financial sector since the mid-1990s. It was in 1994 that the first financial liberalization measures took place and continued until 1998.
During this period, the International Monetary Fund and the government had disagreements over the scope and speed of the financial sector reform. The issues ranged from restriction on the participation of non-citizens in the financial sector to the government’s control on a number of capital transactions. These have increased over time and continue to date.

Ethiopia Endorsing Physical Exercise?

Sunday, 15 September 2019 00:00 Published in Sport Biz

The tendency of physical inactivity leading to obesity or overweight is on the rise in Ethiopia. The problem is quite severe in urban areas, especially in Addis Ababa. While regular exercise means that adults have a lower likelihood of dying from; coronary heart diseases, high blood pressure, and stroke, it has long been a neglected healthcare routine amongst the society. Citizens of late seem to understand its importance. An encouraging factor that has led to the opening of many GYMs. The government introduced different initiatives, such as the car-free days and mass sports days, in a bid to encourage its citizens to become more active. EBR adjunct writer Abiy Wendifraw reports.

Green Areas Expanding in Addis

Sunday, 15 September 2019 00:00 Published in Focus

Construction has boomed in Addis Ababa over the past decade. Shiny new high-rise blocks and shopping centers mushroomed all over the city, and the cranes dotting the skyline hint that more are on the way. Meanwhile, parks and green spaces became victim to urbanization, as private landowners and the state continuously look for space to build. Now, there are only 20 parks in the capital, which has more than four million residents and additional hundreds of thousands who go in and out of the city every day. Only 0.18Pct of Addis Ababa’s land mass is covered by parks and gardens. To improve the situation, the city administration embarked on various projects that targeted building of parks and green spaces. EBR’s Kiya Ali reports.

YouTube for Media A Sustainable form of Income?

Sunday, 15 September 2019 00:00 Published in Focus

Lately, more and more people have been waking up to the fact that YouTube can be considered a serious channel for making a living. Many are seizing the opportunities in the digital media industry, inspired by the growing interest of a large audience to video content. The growth of internet users and smartphone ownership in the country, has also led to a considerable growth in the number of people who use YouTube as a source of news and information. This, in turn, enables many YouTubers with content focused on Ethiopia to earn revenues from views, subscriptions and Advertisments. EBR’s Samson Berhane probes into the matter.

Harnessing Ethiopia's Rice Potential

Sunday, 15 September 2019 00:00 Published in Focus

Rice has already become a major staple food in many parts of Ethiopia. This is because of the population growth and urbanization. However, the local rice production does not meet the growing demand due to low yields. As a result, the demand is currently being met by imported rice where in 2018, Ethiopia imported four million quintals of rice worth USD170.69 million. EBR’s Ashenafi Endale spoke with farmers, investors, experts and government officials to shed light on the matter

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