Ethiopian Business Review

Teklewold Atnafu, the longest serving governor of The National Bank of Ethiopia (NBE), in his speech on financial liberalization in the country, at the eighth general assembly of the Ethiopian Economic Association (EEA) on July 15, 2000 asked the assembly, “Have we created, through financial sector liberalization, a diversified and deep financial system?” and answers himself “Obviously, there is still a long way to go in this respect. We still don’t have active money and capital markets. The types of financial instruments remain limited. The sector is not well diversified in terms of financial institutions. Competition in the sector is far from being fierce.” Fast forward 13 years and almost nothing is changed, except may be for the competition part, and his institution’s Neanderthal nature and the stifling directives it formulated through the years are partly to blame. And now the sector is facing yet another obstacle.

Wednesday, 15 January 2014 21:00
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How It All Began

We neither eat nor drink it, why would we pay for something we see with our own eyes?” was the question posed by many of the aristocrats of Emperor Menelik II, when asked to pay to watch the first ever film screened in Ethiopia at what later became to be known as “Saitan Bet” - the house of the devil. Others concluded “this is the work of the devil not humans” after watching it. 

Now, almost a century later, people wait in long queues at the gates of Cinemas to watch Ethiopian films, willing to pay their hard earned money, knowing that they are the works of their fellow countrymen. 

Sunday, 15 December 2013 15:00
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In our meetings with Prime Minister Meles Zenawi, he frequently raised questions regarding the lack of private sector dynamism [in Ethiopia]. One of his questions was why Ethiopians with large sums of money invested in urban properties instead of building factories. On another occasion he asked how East Asian governments steered the private sector away from speculation and rent seeking and into manufacturing and technology. He also wished to receive literature explaining concretely how Meiji Japan and post-WWII Korea absorbed technology so quickly from foreign-assisted industrial projects.” This is a reflection of researchers in a joint paper produced by the National Graduate Institute for Policy Studies (GRPIS) and Japan International Cooperation Agency (JICA) on industrialization and the Growth and Transformation Plan (GTP). The researchers were referring to policy dialogues held with the late prime minister on industrial development in Ethiopia.  

Saturday, 16 November 2013 09:00
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