US President held talks with CEO of Ethiopian

H.E. President Barak H. Obama and Group CEO of Ethiopian Airlines Mr. Tewolde GebreMariam held  discussions at Bole International Airport beside the B787 Dreamliner Aircraft.

Desktop-SELH.E President Obama & Group CEO of Ethiopian Airlines

The President was very happy to see the Boeing 787 Dreamliner in Ethiopian flag and he thanked Ethiopian Airlines for being a very good longtime customer of Boeing and the USA. He said he has visited the factories in which they are made. He asked for the number of B-787 Dreamliners’ ET operates and Ato Tewolde  replied to the President that Ethiopian has 13 in service and 8 on order.

They also discussed on the performance of the B-787 Dreamliners. Our group CEO explained as follows:

  • Very popular among customers,
  • More humidity in the air which reduces fatigue and dryness,
  • Largest windows in the air,
  • Quietest airplane in its category,
  • Saves 20% fuel burn from other airplanes in its category,
  • Most environmental friendly airplane.

There was also discussions in  honor of Colonel Robinson and in recognition to what he has done for Ethiopia and the Ethiopian people. Ethiopian Airlines has decided to name one of its airplanes after him.

The president was interested to know the most profitable routes in relation to Ethiopian’s vast network. Group CEO briefed him mentioning some examples including Washington DC, Beijing, Shanghai, Changzhou, Hong Kong, Luanda  etc..

Ato Tewolde further explained to H.E. President Obama that Ethiopian is flying to 91 international destinations in five continents, (Washington DC and Los Angeles in the USA and Toronto in Canada, 52 destinations in Africa, 24 destinations in the middle East and Asia and 12 destinations in Europe).

Group CEO Ethiopian Airlines has also emphasized  on intensifying further the already on- going efforts to re-open the USA Exim Bank as it is ET’s main guarantor of the loans used to purchase  Boeing Airplanes.

Finally, President Obama congratulated Ethiopian Airlines for successfully running the largest airline in Africa.

SOURCE: https://www.ethiopianairlines.com

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AAU Signs MoU with EU

slide-300x95As part of its venture to educate leaders who can make a difference and create groundbreaking research efforts to the international marketplace, AAU has signed a Memorandum of understanding (MoU) with the European Union (EU) to establish Ethio-European International Business School at College of Business and Economics, AAU. Funded by EU, the school will be the first international business school in Ethiopia. The school will be housed together with business innovation center in the state of art new building at CoBE campus and will start to offer a range of full-time, part-time and distance learning postgraduate program in management, leadership and entrepreneurship and partnership with European, Chinese and USA business school from September 2016.

The school has immense advantage to equip trainees with knowledge, skills, and experiences that can seize opportunity in this rapidly changing and developing economy of the country and enhance leadership. This school is world class in its standard and offers a comprehensive, transformational learning experience that can prepare the most senior executive to lead and achieve sustainable competitive advantage in business enterprises.

This innovative program opens door to offer the latest research and academy and integrates key management concepts with best business practices to develop strategic thinking and leadership skills. Applying the principles of academic rigor, diversity, and impactful learning, the school will provide senior managers with the tools needed to succeed in today’s challenging business environment.

The ceremony is held at AAU, Sidist Kilo Campus, Senate Hall on 23 July/2015, Admasu Tsegaye (PhD), AAU president, and H.E Ambassador Chantal Hebberecht, Head of European Union Delegation in Addis Ababa, have signed the MoU on behalf of AAU and EU respectively.

source: AAU.edu.et

How Ethiopia is Becoming An African Economic Giant

The African Lion remains one of the fastest growing countries but not much is said or written about it.

by

Addis-Ababa-Airport-650x400I recently attended a forum addressed by Mr. Stephen Jennings, the founder and CEO of Rendeavor group, which is the biggest urban development company in Africa. In his presentation, Jennings talked about the future of African countries and how the best countries will be those that are largely ignored. Today, the promising story of Africa has been told and retold and the key focus has been countries such as Kenya, Nigeria and South Africa. In his presentation, Jennings made a comparison between Africa and Asia in the 60s and 70s where countries such as South Korea and China were ignored. Focus was in countries such as Philippines. In this article, I will explain the strides Ethiopia is making to become the next African giant.

Economic growth

According to the World Bank, Ethiopian economy grew by 10.3% in 2014 making it one of the best performers globally. The IMF ranks it in the top 5 countries globally. This has been a result of a decade of continuous growth which has seen the GDP growth average to 10% annually. The country’s GDP is estimated by evaluating the key sectors of the economy. According to the IMF, all the sectors did well in 2014 with agriculture, industry, and services increasing by 5.,4%, 21.2%, and 11.9% respectively. Agriculture is the country’s main earner with a 40.2% share followed by industry and service which have 14% and 46.2% respectively. It is for this growth that economists have termed the country the ‘African lion’.

In 2014, the world experienced a period of slowdown in commodity prices. To caution the residents, the government succeeded in mitigating the annual inflation to 7.1%. This was achieved by a tightened monetary policy and the use of base money as the nominal anchor.

In Sub-Saharan Africa, Ethiopia is the 2nd largest in terms of population after Nigeria with more than 94 million people. The population is growing at a 2.6%. In addition, the country is also one of the poorest with a per capita income of $470 which is lower than the regional average. The per capita wealth of Egypt is $3,187 and $7,508 in South Africa.

Millionaires on the rise

African-millionaires_WEB

The growth in economy has created a lot of wealth to many Ethiopians. According to a report by consultancy firm New World Wealth, the number of dollar millionaires has grown from 1,300 in 2007 to 2,700 in 2014. This places the country ahead of Angola, Tanzania, Zambia and Ghana.

This growth comes from the growth of the economy with sectors such as agriculture and service achieving double digit growth in that period. Privatization has also led to the accelerated growth. Manufacturing, transport and agriculture have helped create most millionaires.

According to the New World Wealth report, the increase in the dollar millionaires is not correlated with that of the middle and low class. More people have become poorer during that period.

The richest Ethiopian is said to be Mohammed Al Amoud who owns companies in manufacturing, healthcare, energy, construction, hospitality and mining among others. Forbes estimated that he is worth about $11 billion. In the report, he was the send richest black person. He is also a registered Saudi Arabian national and one of the biggest investors in Sweden.

Growth Strategy

In 2010, the country launched a 5 year growth and transformation plan. In this plan, the government intended to use the vast land resources it has to grow and improve the economy. In the plan, the government intention is to make Ethiopia the leading agricultural economy in Africa. In addition, the government began a strategic decision to develop cities and real estate. Today, Addis Ababa is one of the largest and most modern city in Sub-Saharan Africa.

The government aims to achieve a middle-income country in the next 10 years. Whether this will be possible will depend on a number of things. Economists believe that the country will need to move from a public investment driven economy to a vibrant private sector economy. Also, there is an urgent need to keep the country away from terrorism activities because the country has the largest border with the unstable Somalia.

Source: http://moneymattersafrica.com

3rd conference on financing for development to be held in Ethiopia

Third International Conference on Financing for Development to Mobilize and Channel Resources for Sustainable Development

13-16 July 2015, Addis Ababa, Ethiopia

ffd3_logo_1000x495According to the UN Information Center (UNIC), the Conference will gather high-level political representatives, including Heads of State and Government, and Ministers of Finance, Foreign Affairs and Development Cooperation, as well as all relevant institutional stakeholders, non-governmental organizations and business sector entities.

The Conference will result in an intergovernmental negotiated and agreed outcome, which should constitute an important contribution to and support the implementation of the post-2015 development agenda.

The scope of the Conference is set out in General Assembly resolutions 68/204 and 68/279, and will focus on:

1. Assessing the progress made in the implementation of the Monterrey Consensus and the Doha Declaration and identifying obstacles and constraints encountered in the achievement of the goals and objectives agreed therein, as well as actions and initiatives to overcome these constraints;
2. Addressing new and emerging issues, including in the context of the recent multilateral efforts to promote international development cooperation;
-the current evolving development cooperation landscape;
-the interrelationship of all sources of development finance;
-the synergies between financing objectives across the three dimensions of sustainable development; and
-the need to support the United Nations development agenda beyond 2015;

3. Reinvigorating and strengthening the financing for development follow-up process.
The intergovernmental preparatory process of the Conference was launched on 17 October 2014. It includes a series of substantive informal sessions and informal interactive hearings with civil society and the business sector through March 2015, as well as drafting sessions on the outcome document in January, April and June 2015.

 WHAT: World leaders will gather at the Third International Conference on Financing for Development in Addis Ababa from 13-16 July to launch a renewed and strengthened global partnership for financing people-centered sustainable development.

The Conference will look at all sources of finance for sustainable development to ensure that resources go where they are needed most to promote economic prosperity and improve health, education and employment opportunities while protecting the environment.

The outcome of the Conference will be an important milestone on the road toward the adoption of a new sustainable development agenda in September and a universal climate change agreement at the Paris Climate Conference in December. The Conference will lay the groundwork for the world to invest ahead, for people and planet.

In addition to the official programme, including plenary meetings and roundtable discussions, the Conference will feature international civil society and business forums, as well as more than 200 side events.

WHO:

  • Mr. Ban Ki-moon, United Nations Secretary-General
  • Mr. Wu Hongbo, UN Under-Secretary-General for Economic and Social Affairs, and Conference

Secretary-General

  • Mr. Gyan Chandra Acharya, UN Under-Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States
  • Ms. Amina J. Mohammed, UN Special Advisor of the Secretary-General on Post-2015 Development Planning
  • H.E. Mr. Hailemariam Desalegn, Prime Minister of Ethiopia
  • Mr. Jim Yong Kim, President, World Bank Group
  • Ms. Christine Lagarde, Managing Director, International Monetary Fund (IMF)
  • Mr. Roberto Azevêdo, Director-General, World Trade Organization (WTO)
  • Mr. Mukhisa Kituyi, Secretary-General, UN Conference on Trade and Development (UNCTAD)
  • Ms. Helen Clark, Administrator, United Nations Development Programme (UNDP)
  • More than 50 Heads of State and Government
  • More than 100 Ministers of Finance, Foreign Affairs, Development Cooperation
  • More than 1,000 high-level representatives from civil society and the business sector

WHEN: 13 – 16 July 2015

WHERE: United Nations Economic Commission for Africa (UNECA), UN Conference Centre, Addis Ababa (UNCC-AA), Ethiopia

WHY:   Decisions taken in 2015 can set the world on a course of action to end poverty, promote prosperity and protect the planet. The Conference on Financing for Development is centred on mobilizing the means to make a difference in people’s lives. Through greater cooperation and partnership, countries will look at how they can mobilize all possible sources of financing, including domestic and international, public and private, and ensure that they are channeled for sustainable development. The resources are there – but significant changes in current policy, financing and investment patterns will be required to deliver the future we want.

MEDIA ACCREDITATION

Media accreditation is strictly reserved for members of the press – print, photo, radio, TV, film, news agencies and online media who represent a bona fide media organization. No double accreditation is allowed (e.g. as press and delegate or as press and NGO). The deadline to apply for media accreditation is 30 June 2015.

National and foreign correspondents based in Ethiopia can obtain further information on the registration and accreditation process by contacting Ms. Sophia Denekew, Media Relations Section, ECA, T: +251-91197696 / E: denekews@uneca.org

Journalists arriving from outside Ethiopia are required to complete the following steps:

  1. 1. Submit an application on the UN accreditation system by filling out the personal information form. The form is available at: http://www.un.org/en/media/accreditation/form.
  1. 2. Send a letter of assignment on official letterhead of a media organisation signed by the Publisher, Editor-in- chief or Assignment Editor indicating the name and duration of assignment of the journalist who will cover the conference (along with his or her contact information). The letter should be addressed to the Media Accreditation Unit and sent, once signed and scanned (PDF format), to malu@un.org or fax +1 212 963-4642.
  1. 3.   Send a digital passport photo (JPEG format), clearly indicating applicant’s name, to malu@un.org.
  1. 4. When your application is approved, a confirmation will be sent to you by e-m Bring a printout of this confirmation email and your assignment letter to the Accreditation Centre in the Millennium Hall, Bole sub-city, Woreda 3, Addis Ababa. Passes must be picked up in person, by presenting two forms of official ID, including a valid passport.

Please note that a visa is required for entry into Ethiopia. For more information about how to apply for a visa, please refer to: http://www.un.org/en/media/accreditation/FFD3.shtml.

MEDIA RESOURCES

Press conferences: An updated schedule of press events and briefings at the UN Conference Center in Addis Ababa will be available at www.un.org/ffd3. There will be a press conference room, media center and small interview room available at the conference facility. A press conference schedule will be shared at the media desk at the Conference Center and will be sent to registered media in advance. Use of the interview room can be scheduled through Claire Anholt at anholt@un.org.

Press releases: Press releases will be issued daily from the conference and shared via e-mail.

Website: The latest Conference programme, speakers and supporting documents will be posted and updated at www.un.org/ffd3. Other resources and the latest Conference news will be also available at www.un.org/action2015.

Webcast: Plenaries, round tables and press briefings will be webcast, live and on-demand, at http://webtv.un.org.

Broadcast: UNTV will cover the Conference live between 13-16 July. TV packages will be available to broadcasters through Unifeed at www.unmultimedia.org/tv/unifeed/. These packages are also distributed twice daily through APTN. Broadcast quality video files can be requested from video- library@un.org. UN Radio will also cover the conference and will be filing daily news stories in a number of UN languages. These can be accessed at www.unmultimedia.org/radio/.

Multimedia: Selected photographs of the Forum will be available from UN Photo online, along with other multimedia materials, at www.unmultimedia.org. Key photos from the conference will be shared through UN social media accounts in real-time. Additional photos and high-resolution files can be obtained by contacting the UN Photo Library at photolibr@un.org. Social media hashtags: #FFD3 and #action2015

source: http://www.un.org/esa/

Ethiopia to launch first rocket in four months

Mekele Institute of Technology is in its final stage of putting together a laboratory and a rocket launching pad for the first rocket the country will launch in the coming few months.

STS-123_launch_newThe laboratory, which will be used as a testing ground where rocket engines are tested before they are mounted onto the main body, will be ready for trial after three months. The prototype rocket named Alpha Meles is anticipated to be launched on November 2015 from Hashenage Station in Northern Mekele. Alpha Meles was built at a cost of 50 million birr.

The rocket will go as high as 30km from the earth surface. Three organizations, Mesfin Industrial Engineering, Mesebo Cement and the Metals and Engineering Corporation (METEC) jointly help the project to become a reality.

Leul Gebreselassie, Quality Assurance Head at Mekele Institute of Technology told Capital that the project will encourage more space science projects to bud up in future.

“In few months, we will launch the rocket. That will be a big showcase to demonstrate the education we offer can produce pupils who are capable of transforming theoretical ideas to practical work. We are just beginners in space technology. Conducting a research and incorporating the results with the work is intensive.”

“I hope this project will be a good appetizer for those who have been very enthusiastic in space science technology. The project will also lay the foundation to have our own satellite in space.”

Recently, scholars at the institute had made fuel from chicken feather. Another invention of the scholars was a candle with odor that repels malaria insects.

Edom Guesh, who innovated the feather fuel and a participant in the rocket project, said shortage of laboratory equipment was the main challenge on the project. And the small interest of business people to support innovative ideas is challenging that shadowed on innovative people.

“To create, we need a well equipped laboratory and many universities don’t have good laboratories. Even harder is to introduce the innovations and to be able to sell them. Selling them is as hard as climbing a mountain.” Edom pleaded stakeholders to assist innovators and to support innovative works that can help change the society and the country at large.

ኢትዮጵያ ዉስጥ በመቀሌ ቴክኖሎጂ ኢንስቲቱት (MIT) መሪነት እየተካሄደ ባለው “አልፋ መለስ” የሮኬት ፕሮጄክት በቀጣዩ 4 ወራት ዉስጥ የመጀመርያው ሮኬት የማምጠቅ ሙከራ ለማድረግ በዝግጅት ላይ ነች።

ይህንን እስከ 30 ኪሎ ሜትር ርቀት ሮኬት ለማምጠቅ የሚያስችል ፕሮጀክት በአጠቃላይ 50 ሚሊዮን ብር በላይ የሚፈጅ ሲሆን፥ መስፍን ኢንዱስትሪያል ኢንጅነሪንግ፣ መሶቦ ሲሚንቶና የኢፌዴሪ አየር ኃይል ለግንባታው የሚውሉ ቁሳቁሶችን በማቅረብ ተሳትፈዋል።

Capital Newspaper

Ethiopia to build tallest building in East Africa

Ethiopia launches the construction of a 46-story building, the tallest in East Africa and second tallest structure in the continent, reports said on Saturday. The construction of the $200 million structure has officially been launched on Saturday and will serve as headquarters of the Commercial Bank of Ethiopia (CBE) which owns the building.

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The four basement structure with designed height of 198 meters will be built by the China State Construction Engineering Corporation which already entered to contractual agreement with CBE.

images-henn_architekten_commercial_bank_of_ethiopia_106824747
CBE, one of the oldest banks in Africa, would use the headquarters to offer various services under one roof.

The new headquarter is particularly important for the current booming business, running in the country Bereket Simon, the board chairperson of the commercial bank of Ethiopia and Policy research advisor at the ministerial level spoke during the ceremony.

No definite time is set when the construction of the diamond shaped structure would be completed but believed it would give aesthetic value to Africa’s capital after completion.

The Internet of Things Changes the Company-Customer Relationship

With the rise of the internet of things, our individual technology envelopes – our personal networks of smart, connected devices — are rapidly becoming more complicated as more and more devices from a growing profusion of vendors do ever more complex jobs. In fact, industry research indicates that the number of devices in these envelopes will triple over the next few years, and, absent a common set of standards, the complexity of these envelopes will only compound.

Internet of Things Banner

This dynamic is exacerbated by product companies’ historical service paradigm. It used to be that most of the value we derived from our devices was the result of direct physical interaction: For example, we turned a key in a door look, flipped a light switch, or twisted the dial on a thermostat. Now, however, our interaction with devices is profoundly changing – they are becoming more like interconnected services than products. Soon it will be common to drive up to one’s house – which has adjusted heating or cooling in anticipation of your arrival — and have the garage door automatically open, the security system disarm, the doors unlock and lights come on. This impending future creates a conundrum for “thing makers” as the way that services must be supported is profoundly different from the way that devices are.

The historical service paradigm for thing makers could be called “fire and forget”: I sell you a thing, perhaps a crockpot, and … no offense … I hope I never hear from you again. If you contact me for service I will ask you two questions: 1) “are you in warranty?” and 2) “is your request within the scope of what I have decided I will support?” If the answer to both is “yes,” I will serve you as inexpensively as possible using techniques such as self-help on the web, endless IVR loops (“for billing questions, press 1”) and/or offshore labor. And once I resolve your issue — no offense — I hope I never hear from you again. In a sense I’d like to “forget” that the product exists and move on to my next sale.

This service paradigm is not designed for a world in which intelligent, context-aware, learning devices are interacting with each other, with the cloud and with our smartphones while other devices are constantly being added, removed, or modified (via downloads from the cloud). This environment requires a focus on what the user is trying to do as opposed to merely whether the crockpot they purchased is operating as intended. Service in the IoT world needs to not only address devices that don’t function properly, but also support users as they attempt to buy, install, integrate and use these devices. As such it needs to be a continuous, open ended experience.

Some firms may look at this situation and see operational headaches and increased service costs. Others — the companies that will be the winners in the IoT — will see opportunity. Rather than continue dodging customers, they’ll transform their service models operationally, technically, and culturally. They’ll embrace the opportunity by applying different KPIs – such as improved customer experience, churn reduction, and increased customer lifetime value — hiring more technically oriented (and nimble) service reps and modifying the service model from one in which the company defines problems it’s willing to address to one in which the customers defines the job to be done, and the company helps them do it – indefinitely.

This transformation will not only be longitudinal (providing continuous service), but also expansive, providing a holistic approach that will earn companies a trusted adviser position. In an age when user experience is surpassing product and price as the number one brand differentiators, focusing on the user, their environment and what they’re trying to do with their technology, as opposed to how any given component in their envelope is functioning, is essential, even when that means supporting other companies’ products.

The companies that see service in an IoT world as a competitive differentiators — a brand and growth opportunity — will thrive; those that continue to view service as an episodic cost obligation will lose out.

source: http://www.hbr.org  by Paul Weichselbaum

Instagram will be Facebook’s next multibillion-dollar business

Facebook is just about to turn on the money jets for Instagram, the photo-sharing app it acquired in 2012 for over $1 billion. (Remember when that seemed like a lot of money for a tech startup?)

063015-cotd-1Specifically, Facebook is going to let Instagram advertisers use Facebook’s targeting tools to reach users based on their interests.

How much money are we talking about here? According to an analyst note yesterday from Bank of America Merrill Lynch, Instagram could be a $300 million business next year, growing more than 12x to over $3.8 billion by 2020. That $3.8 billion is about equal to Facebook’s total quarterly revenue today.

As the analysts point out, the site has more than 300 million monthly users who spend an average of more than 20 minutes a day on the site, and 23% of US retailers already have an account there. “We see Instagram monetization as a lever Facebook can pull to maintain strong overall ad growth,” they write.