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Ethiopia’s Rapid Economic Growth: Miracle Or Mirage?

AFRICANGLOBE - Ethiopia, like many of Africa’s new growing economies, began achieving high growth rates from a low base. For about 10 years, the country has notched up double-digit economic growth rates. The average annual rate in the past 10 years has been 10.9 percent, according to figures from the African Development Bank.

Ethiopia, 30 Years After The Famine

AFRICANGLOBE -To be in Ethiopia is to witness an economic miracle. The country has enjoyed close to double-digit growth for a decade. One study found it was creating millionaires faster than anywhere else on the continent. The streets of Addis Ababa reverberate with hammering from construction workers as the concrete skeletons of new towers and a monorail project rise into the crane-dotted sky.

Addis Ababa Awaits Pushkin Statue From Moscow

AFRICANGLOBE - Born in 1799 in Moscow, Alexander Pushkin, whose ancestry is claimed by both Ethiopia and Eritrea, is considered the father of modern Russian literature, he also gave Russia a it's first written language. Pushkin's grandfather, Abram Gannibal, is believed to have been born in Ethiopia in 1679. The son of an Ethiopian prince, Gannibal was kidnapped and taken to Russia at the age of eight as a slave of Russian Czar Peter the Great.

Ethiopian Billionaire Al-Amoudi To Invest $500 Million In Ethiopia Coffee, Oranges

AFRICANGLOBE - Horizon Plantations Ethiopia Plc, majority-owned by Ethiopian billionaire Mohamed al-Amoudi, plans to almost double annual revenue within three years by investing at least $500 million in coffee and orange projects.

Ethiopia: First Addis Tram Tested

AFRICANGLOBE - The first of 41 trams being built for the two-line network under construction in Addis Ababa was unveiled at CNR Changchun's plant in on Tuesday.

South Sudan Rebels Agree On Ceasefire

AFRICANGLOBE - The conflicting parties of ‪South Sudan today signed the Implementation Matrix of the Cessation of Hostilities agreement and it's addition at the ongoing 27th Extraordinary Session of the IGAD Assembly of Heads of State and Government on the situation in South Sudan in Addis Ababa, Ethiopia, IGAD secretariat said.

Turning Ethiopia Into The Next China

AFRICANGLOBE - African nations such as Ethiopia, Kenya, Lesotho, Rwanda, Senegal, and Tanzania want their share of the 80 million manufacturing jobs that China is expected to export, according to Justin Lin Yifu, a former World Bank chief economist who teaches economics at Peking University. Weaker consumer spending in the U.S. and Europe has prompted global retailers to speed up their search for lower-cost producers.

Ethiopia Launches Crackdown On Protesters

AFRICANGLOBE - Ethiopian security forces should cease using excessive force against students peacefully protesting plans to extend the boundaries of the capital, Addis Ababa, Human Rights Watch said today. The authorities should immediately release students and others arbitrarily arrested during the protests and investigate and hold accountable security officials who are responsible for abuses.

Addis Ababa Among The 10 Fastest-Emerging Global Cities

AFRICANGLOBE - Cities in lower-income countries are rapidly catching up with the world's top business capitals, according to a new report.

African Solution: East African Countries To Deploy Troops To South Sudan

AFRICANGLOBE - East African leaders on Thursday authorised the prompt deployment of a Protection and Deterrent Force from the region to help restore peace and stability in South Sudan.

Addis Ababa Looks Like A Construction Site

AFRICANGLOBE - It is a scene common to most neighbourhoods in the Ethiopian capital, which has turned into a giant building zone and a city in transformation. “It looks like a construction site when we compare from the previous time,” said Berhanu Kassa, manager of B.B. Construction in the Ethiopian capital.

A Glimpse Into A Future Prosperous, Assertive Africa

AFRICANGLOBE - Advanced, developed, empowered, inspired, independent and united are some of the main qualities Africa will possess in the near future. This is according to a futuristic letter written by the African Union (AU) Commission chairperson, Nkosazana Dlamini-Zuma and delivered to African leaders at their recent summit in Ethiopia.

Battle Of The Nile: Egypt, Ethiopia Clash Over Mega-Dam

AFRICANGLOBE - Tension between the two African states rose sharply in January after Ethiopia rejected Egypt's demand it suspend construction of the Grand Ethiopian Renaissance Dam on the Blue Nile, the main tributary of the 4,130-mile river, the world's longest. Egypt has vowed to protect its "historical rights" to the Nile "at any cost".

African Manufacturing An Awakening Giant

AFRICANGLOBE - A quiet boom in manufacturing in Africa is already taking place. Farming and services are still dominant, backed by the export of commodities, but new industries are emerging in a lot of African countries.

Norway Gives Duty-Free Access To Ethiopian Exports

AFRICANGLOBE - The Norwegian government says it would allow trade preferences to Ethiopian export products for unlimited period of time. At a press conference attended by representatives of the two countries, it was mentioned that paramount importance will be given to strengthening the trade and investment relations of the two countries.

An Integrated Response To Justice And Reconciliation In South Sudan

AFRICANGLOBE - As representatives of Salva Kiir and Riek Machar meet in Addis Ababa to negotiate a ceasefire to the conflict that has engulfed South Sudan in past weeks, the question of what a mediated outcome might look like is at the forefront of everyone’s mind.