Category Archives: Business

Sheikh Mohammed Al Amoudi: Net Worth $13.5 Billion


Son of Saudi father and Ethiopian mother, Mohammed Al Amoudi started investing in Sweden in the 1970s.
He made his initial fortune in construction in Saudi Arabia, where he continues to add to his project portfolio with new projects for King Saud University and a new medical city complex for the Ministry of Interior.
Al Amoudi is also the biggest individual investor in Ethiopia with a portfolio of interests from hotels and gold mines to agriculture and cement.

Ethiopian Flower Exporters Cash In on Valentine’s Day


ADDIS ABABA, ETHIOPIA — Ethiopia’s flower exporters are cashing in on Valentine’s Day, as the industry blooms.

Many of the roses that lovers give each other on Valentine’s Day happen to be grown in Ethiopia. In the last decade, the industry has grown from nothing to one of the dominant players on the international market.

Zelalem Messele, an Ethiopian flower grower and chairman of EHPEA, the Ethiopian Horticulture Producer Exporters Association, said Valentine’s Day is very important for the country’s flower sector.

“It’s one of the holidays the flower industry flourishes. And the production goes up by 30 to 40 percent and so the demand,” said Messele.

Mobile Banking Legal At Last



Without much deviation from its draft state, the long awaited directive that will allow banks and Micro Financial Institutions (MFI) to provide transaction-based mobile and agent banking services was issued, on January 1, 2013.

Now clients of banks and MFI’s, offering mobile banking services, will be able to make deposits and withdrawals through their mobile phones. They can also make payments to businesses or transfer money to clients using their mobile phones.

13 Young African Business/Economic Leaders To Watch in 2013

Bethlehem Tilahun Alemu
VENTURES AFRICA – It was American football coach, Vincent Lombardi that said, “Leaders are made, they are not born. They are made by hard effort, which is the price which all of us must pay to achieve any goal that is worthwhile.” Today, there are many young Africans blazing trails across the continent and globally – new breed, cosmopolitan Africans, shaping Africa’s future. Their social/business activities in one way or the other illuminates the potential that will shape the business and economic future of Africa.
Ventures Africa has identified 13 young Africans who have contributed to shaping the future of the continent and the world at large; through their activities and businesses, these global leaders, entrepreneurs, CEOs and intellectuals are young, talented and with proven genius in their distinctive fields. To cap it all, they are all under 35 years! In no respective order, here are 13 Young African Business/Economic Leaders to look out for in 2013.

Facefood – the Facebook of the Restaurant World


Facefood is a new eatery in town with the “look and feel” of Facebook. Except at Facefood, unlike its online muse, there is a waiter that takes your order, prepares your food and serves you.
A short walk from Atlas Hotel, onCape Verde Street, the restaurant occupies the former premises of Yod Abyssinia Cultural Restaurant, near Dessalegn Hotel. The sign, on a blue background, but in a white font, different to Facebook’s, attempts to imitate the world famous social network.

Kenya Airways calls for merger with Ethiopian,South African Airways


Kenya Airways (KQ) suggested a merger with Ethiopian Airlines and South African Airways (SAA) with the view to withstanding stiff competition coming from mega non-African carriers.
Kenya Airways CEO Titus Naikuni told delegates at the 44th African Airlines Association (AFRAA) Annual General Assembly (AGA) in Johannesburg last week that his airline should come together with fellow sub-Saharan carriers, Ethiopian Airlines and SAA, to create a large African airline able to take the fight back to foreign carriers, which dominate 80 percent of intercontinental traffic to and from Africa. While the big three airlines are big in the context of the African market, globally they are small relative to giant competitors such as Emirates, Air France-KLM and British Airways.

Holland Car Manager Announced Bankruptcy


The first automobile car assembly plant in Ethiopia, Holland Car Plc, announced to its employees last Tuesday via teleconference that the company had gone bankrupt. The company’s founder and general manager, Tadesse Tessema (Eng.), conducted the teleconference direct from Holland with his employees in Ethiopia.

The company was founded in 2005 with an eleven million birr initial capital after Tadesse decided to establish it in a joint venture with a Dutch company Trento BV, Engineering.

The company could not settle the 20 million birr loan which it borrowed from Zemen Bank, The Reporter learnt.

ማይክሮሶፍት በኢትዮጵያ የሚታየውን ሕገ ወጥ የሶፍትዌር ስርጭት ሊቆጣጠር መሆኑ ተሰማ


በአሸናፊ ደምሴ (ሰንደቅ ጋዜጣ) በኢትዮጵያ ውስጥ የሚታየውን ከፍተኛ የሆነ ህገ-ወጥ የሶፍትዌር ስርጭት ለመቆጣጠር የሚያስችል ስምምነት በኢትዮጵያው የሚገኘው አእምሯዊ ንብረት ጽህፈት ቤትና የምስራቅና ደቡብ አፍሪካ የማይክሮሶፍት ድርጅቶች መፈራረማቸውን ባሳለፍነው ረቡዕ ህዳር 5 ቀን2005 ዓ.ም በሸራተን አዲስ በተሰጠ ጋዜጣዊ መግለጫ ላይ ተጠቆመ።
ስምምነቱ በሀገሪቱ ውስጥ እየታየ ያለውን የህገ-ወጥ የሶፍትዌር ስርጭትን ጨምሮ የአእምሯዊ ንብረቶችን ብዝበዛ ለመቆጣጠርና ትምህርታዊ ስልጠና መስጠትን እንደሚያካትት የኢትዮጵያ አእምሯዊ ንብረት ጽህፈት ቤት ዳሬክተር የሆኑ አቶ ብርሃኑ አዴሎ ተናግረዋል። የምስራቅና ደቡብ አፍሪካ የማይክሮሶፍት ድርጅቶች ተጠቃሚውን ህብረተሰብና ባለሙያውን የበለጠ ለመደገፍ የሚያስችሉ ፕሮግራሞችን በመንደፉ ኢትዮጵያውያን የአእምሮ ንብረታቸውን መብት በማስከበር እንዴት የተለያዩ ጥቅሞችን ማግኘት እንደሚችሉና ለሀገር በቀል የቴክኖሎጂዎች ፈጠራዎች በከፍተኛ ደረጃ ድጋፍ ስለመስጠት እንደሚሰሩ አስታውቀዋል።