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Ethiopia Creating Millionaires Faster Than Any other African Country

AFRICANGLOBE - Research is showing that Ethiopia is creating millionaires at a faster rate than any other country on the continent. The number of dollar millionaires in the east African nation rose from 1,300 in 2007 to 2,700 by September this year, according to New World Wealth, a consultancy based in the UK and South Africa.

Ethiopia – Ancient, Booming But Undemocratic

AFRICANGLOBE - Addis Ababa is being transformed as if by monstrous engines boring through the heart of the city. A new motorway flows into town sweeping aside all before it and an urban rail system is smashing through buildings, roads, gardens - everything accompanied by cranes and trucks, noise and dust.

World Bank Sees Ethiopia’s GDP Growing at 7 Percent for Medium...

While seven percent GDP growth would be the envy of finance ministers in Western economies, it would fall short of an average rate of 10.6 percent that Ethiopia said it achieved in the last 10 years with its state-interventionist policies.

New Railway Project in Ethiopia Evoke Memories of Glory Days

Ethiopia's old diesel railway is now being replaced by a Chinese-built electrified railway, signifying a grand plan that seeks to transport the country's commercial exports to its neighbouring countries. A train hasn't left Addis Ababa for six years. But this major new train line is expected to open between Addis Ababa and the port of Djibouti in 2016.

Kenenisa Bekele’s Hotel Opens for Business

AFRICANGLOBE - The four star Kenenisa Hotel, which cost 200 million birr ($10 million) to build, was officially opened for business on Sunday. The construction of the eight-storey hotel situated near the Bole Medhanialem Cathedral in Addis Ababa was launched five years back.

In Praise of Addis Ababa – A Rising City Full of...

AFRICANGLOBE - I had the opportunity to visit Addis Abeba for about five weeks. What follows is a report to those who read my occasional essays on Ethiopian affairs. In writing this essay, I make no charges that can’t be substantiated, no opinions are expressed that may be considered slanderous, and no praise is heaped that is either out of place or undeserved.

Ethiopia Aims To Host Africa’s Tallest Building by 2017

Ethiopia’s capital city, Addis Ababa, may boast Africa's tallest building by 2017. Plans unveiled by a private Chinese developer now call for a 99-story office-hotel tower.

Addis Ababa is the Showcase for Ethiopia’s Economic Great Leap Forward

AFRICANGLOBE - The capital of Ethiopia seems to be one vast building site. As the high-rise blocks, broad avenues and roundabout take shape, a new Addis Ababa is springing up. The priority for the government is to build at all costs, the work being supervised by impassive foremen.

Africa Must Learn From its Past

AFRICANGLOBE - The founding leaders of Africa, among them Kwame Nkrumah of Ghana, Kenneth Kaunda of Zambia, Haile Selassie of Ethiopia and Julius Nyerere of Tanzania achieved political liberation. The present and future leaders must strive for lasting unity and economic independence.

Ethiopia’s Economy to Expand By 11.3 Percent In 2013

AFRICANGLOBE - Ethiopia's economy is estimated to expand by 11.3 per cent in the 2012/13 budget year. This is according to a 9 month performance reported to the Budget and Finance Affairs Permanent Committee of the Parliament by Sofian Ahmed, Ethiopia's Minister of Finance and Economic Development.

Ethiopia’s Booming Hotel Industry

AFRICANGLOBE - So many foreigners are coming now and more and more are not Ethiopian Diaspora, says Dawit, a local Ethiopian tourist operator. A sense of change has descended upon the country. Gone are filmmakers for aid videos on famine. Rather conference facilities and lobbies bustle with the growing presence of investors and government officials.

Is Ethiopia the Next China? – World Report

AFRICANGLOBE - In ten years, Ethiopia may be the most changed nation on the continent. Its investment in building a national power grid is greater than any other nation in Africa. There are several similarities to China of 1987 in the Ethiopia of 2013,

Ethiopian Airlines Pushes Into Asia

AFRICANGLOBE - Ethiopian Airlines has announced an expansion of its Asian network, adding three new destinations: Ho Chi Minh City, Manila and Seoul, as of June 18th, 2013.

On the Shores of the Spectacular Lake Hawassa

AFRICANGLOBE - Around 140,000 people live there, surrounded by the most beautiful and exotic nature I have ever seen. Monkeys are sitting in every single tree, eating or grooming each other and no matter where you look in the sky, colourful birds will be seen, especially the very characteristic Marabou Stork, which is a very common sight around the lake.

Chuan Hui International Tower and Park Hyatt Addis Ababa

AFRICANGLOBE - Guangdong Chuan Hui Group is delighted to announce new details about the projects being developed in Ethiopia in general and the Chuan Hui International Tower in Addis Ababa in particular. After negotiations with the Addis Ababa Municipal Authority the Chuan Hui group has secured 41,000 sq m of land in Urael district for the construction of the hotel complex.

Ethiopia’s Economy Benefiting From Emigrants Returning Home

AFRICANGLOBE - Ethiopia saw a number of its people leave the country decades ago, when a communist government took power. Now, with the country having achieved stability, and the country trending upward, many emigrants are returning home. And they're bringing business and economic success with them.