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AFRICANGLOBE - Ernst & Young forecasts FDI into Ethiopia will average $1.5 billion each year for the next three years and predicts the country will be a leading manufacturing hub in Africa in the next decade.
AFRICANGLOBE - A Chinese state-owned car manufacturer agreed to build an 11 billion-rand ($759 million) auto plant in South Africa, the biggest investment in a vehicle-production facility in the country in four decades.
AFRICANGLOBE - Africa must invest in technology transfer models to strengthen value addition of its products to move away from selling raw materials, experts have said at the ongoing AU summit in Kigali. Despite talk of Africa’s critical need to strengthen its industrialization to create jobs and move millions out of poverty, the bloc has continued to export raw materials something that has left many African economies behind, although many are endowed with natural resources.
AFRICANGLOBE - There's a pretty good chance that some of the clothes you're wearing, the shoes on your feet and even the device you're using to read this were made in China. Even as its economy slows, China remains the world's factory, churning out billions of dollars every year of goods. The government, though, wants to change this, which could be a huge opportunity for countries like Ethiopia -- and the continent of Africa as a whole.
AFRICANGLOBE - The government of the Federal Democratic Republic of Ethiopia has ushered in a manufacturing boom that is set to make the country a major regional player across several lines of products. The widespread eagerness to invest is made that much more due to a large domestic market and an increasing number of skilled workers.
AFRICANGLOBE - Several African countries have enjoyed economic growth in recent years - but there are fears that a failure to develop manufacturing could prove to be costly.
AFRICANGLOBE - New IT tools combined with rising prices elsewhere in the world could help Africa become the next de facto destination for low-cost manufacturing. The prediction comes from a report by analysts IDC called Is Africa Poised to Become the Low-Cost Manufacturing Hub of the World?, which is largely upbeat in answering its titular question.
AFRICANGLOBE - With the likes of Tesco, Walmart and H&M already in Ethiopia, and others bound to follow their example and bring their business to Africa, the continent is bracing itself for the manufacturing boom, which has eluded it for so long, and for the development gains that should follow.
AFRICANGLOBE - As China's labor, manufacturing and resources costs continue to rise, Ethiopia, one of the fastest developing countries in the world is hoping Chinese companies will consider opening more factories there. "China is one of our country's main donors in building infrastructure, a big constructor and a major technology provider," said Seyoum Mesfin, Ethiopian ambassador to China.
At the turn of the millennium, The Economist controversially described Africa on its front cover as The Hopeless Continent, but came up with the more optimistic cover line The Hopeful Continent last year. Whatever development path African countries are taking, few would deny the rapid progress that has taken place over the past two decades.
The Manufacturers Association of Nigeria (MAN Tuesday warned the Federal Government not to follow the road map leading to the signing of the Economic...
Ethiopian Prime Minister Meles Zenawi insists China is now coming to the rescue of Africa after a failed Western ideology of the past three...
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