Posts Tagged ‘Ethiopian economy’

Ethiopian Banks May Be Less Profitable as Deposit Growth Slows

January 18 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: , , , , , , , , ,

(Bloomberg) — Ethiopian banks may become less profitable this year as deposit growth slows and because of a law that requires lenders to buy government securities, Access Capital SC said. Returns on equity are expected to be about 20 percent in coming years, compared with more than 30 percent previously, the Addis Ababa-based group said in an... Read more

Ethiopia Can Get $7.6 Billion by Selling Ethiopian Airlines and 4 More Companies

January 12 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: , , , , , , , , , , , ,

(Bloomberg)  Ethiopia’s government would raise 132 billion birr ($7.6 billion) if it sold the country’s five biggest state-owned companies to private investors, Access Capital SC said. The sale of Ethiopian Airlines Enterprises, sub-Saharan Africa’s second-biggest carrier, Ethiopian Shipping Lines, Ethio Telecom, the Ethiopian Insurance Corp. and Commercial Bank of Ethiopia would generate funds needed to finance infrastructure... Read more

Illegal Ethiopian Capital Flight Skyrocketed in 2009 to US$3.26 Billion [ Full Report ]

December 16 | Posted by Ethiopiaforums | Africa, Economy, Ethiopia, News, World Tags: , , , , , , , , , , ,

African Nation Lost US$11.7 Billion in Illegal Capital Flight from 2000 through 2009, Writes GFI Economist WASHINGTON, DC – Corruption, kickbacks and bribery are on the rise in Ethiopia, according to a forthcoming report from Global Financial Integrity, a Washington-based research and advocacy organization.  According to the study, illicit financial flows out of the... Read more

Ethiopia’s ‘Distorted’ Monetary Plan Needs Reform, IMF Says

October 14 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized, United States Tags: , , , , , ,

(Bloomberg) — Ethiopia’s “highly distorted” monetary policy requires urgent reorganization because it is stunting growth and undermining macroeconomic stability, the International Monetary Fund said. The Horn of Africa country’s five-year economic-development plan that starts in the fiscal year beginning July 8, 2010, and targets annual growth of 11.2 percent is “very ambitious,”... Read more

Ethiopian Exports Increased by 38% in Year on Coffee

September 8 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: , , , , , , ,

Exports from Ethiopia, Africa’s biggest coffee producer, surged 38 percent in the year through July 7 as shipments of the beans jumped, the Trade Ministry said. Total exports amounted to $2.8 billion in the period, the ministry said in a statement released yesterday in Addis Ababa, the capital. Coffee was the Horn of Africa nation’s biggest revenue earner,... Read more

 Food prices push Ethiopia inflation  to 39 pct

August 9 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: , , , , , , ,

* July food costs up 47.4 pct yr/yr * Alcohol and tobacco, transport also climb ( ADDIS ABABA Aug 8 (Reuters) – Consumer prices in Ethiopia jumped 39.2 percent in July from a year earlier, mainly driven by a surge in food costs, the statistics office said on Monday. Food prices, which account for 57 percent of the consumer... Read more

Ethiopian Shipping Lines Net Profit 661m Br.

August 9 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: , , , , ,

The Ethiopian Shipping Lines (ESL) registered a net profit of 661.5 million Br exceeding its projection for the 2010/11 fiscal year by nine per cent. During the last quarter of the 2009/10 fiscal year alone, it made an unprecedented profit of 641.3 million Br, which is 154pc of its projection for that fiscal year. It has also... Read more

Ethiopia’s foreign direct investment declines

July 28 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: , , , ,

Ethiopia’s foreign direct investment (FDI) continued on a downward spiral last year with the Horn of Africa country receiving just US$184 million in investment. According to the 2011 World Investment report released by the UN Conference on Trade and Development UNCTAD, Ethiopia’s share of FDI inflows to Africa is just two percent. “Unfortunately, the amount of FDI flow to... Read more

Ethiopia: SEBI issues FATF money-laundering warning for 10 countries

July 19 | Posted by Ethiopiaforums | Ethiopia, News, Uncategorized, World Tags: , , , ,

After cautioning Indian markets about possible money laundering and terror-funding risks from Iran and North Korea, market regulator SEBI has issued a warning for funds from eight more countries, including Turkey and Ethiopia. A similar warning could be issued soon by the Reserve Bank of India (RBI) to banks and financial institutions seeking... Read more

Ethiopia food prices spike after govt intervention. Food becomes unaffordable for many

June 21 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: , , , , ,

ADDIS ABABA, Ethiopia (AP) — When Ethiopia’s government imposed price controls in January to combat the spiraling cost of staples like meat, cooking oil and bread, butcher Wabe Habse had a long line of customers, but could barely make a profit. Now, after price controls were dropped earlier this month, Wabe is still not... Read more

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