Ethiopia should consider currency devaluation, says World Bank

Ethiopia's currency is overvalued by 31%, says Lars Christian Moller, a World Bank economistEthiopia should consider devaluing its currency to boost exports as they are mostly unprocessed products and need to stay competitive on price, a World Bank economist said on Tuesday.

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Global funds for African farmers

In its first continental investment, KKr & Co. hopes Ethiopia’s Afriflora will come up roses. Photo©AfrifloraAfrica's urban food markets will increase fourfold by 2030, and small and unlisted companies setting out to supply them hold high-yield potential.

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Anansi: Conundrums and Credibility

Our political insider throws the spotlight on four key issues this month: the monitoring of South Africa's elections by Ghana's political heavyweights; Algerian President, Bouteflicka's fight to to refind legitmacy; US John Kerry's deft diplomacy; and the fear of Ethiopia's Oromia.

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East African regional force in the offing

Photo©ReutersA 5,000-strong East African regional standby force, comprising of soldiers from Ethiopia, Kenya, Seychelles, Djibouti, Somalia, Uganda, Tanzania, Rwanda, Comoros and Burundi will be ready for deployment by year end.

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We can turn people into world-class providers - Thomas Konditi

Thomas Konditi, Chief financial officer, General Electric (GE) Africa. Photo©All Rights ReservedThe GE facility being built in Calabar exemplifies the company's approach to developing suppliers in Africa.

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Ethiopia approves highest ever budget

Ethiopia's parliament approved a 178.6 billion-birr ($9.2 billion) budget for 2014-2015 on Monday, a 15 percent rise from the previous year that will boost spending on education, health and road building.

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Ethiopia says expanding zones to become industrial hub

Ethiopia plans to build an industrial base, with textiles and garments seen as a key sector. Photo©ScreenShotReutersEthiopia will start setting up a new industrial park in September and will expand another at a total cost of $250 million, an official said, part of efforts to shift away from farming and become a hub for textiles and other industries.

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Ethiopia's Economy will show robust growth - IMF

The International Monetary Fund (IMF) has projected that Ethiopia's economy will experience "robust growth" in the next two years.

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Egypt seeks more cotton imports from African countries

Photo©ReutersEgypt's government-backed garment export council wants to expand its base of African cotton suppliers and is seeking to import around 250,000 tonnes a year, a senior industry official said on Thursday.

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African tech start-ups dream of Silicon Savannah

Young techies hunched over laptops in small offices across Africa want to create their own versions of California's Silicon Valley and some are beginning to attract investors prepared to take a risk in the hope of high returns.

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Ethiopia: The post-Meles universe takes shape

Tedros Adhanom Ghebreyesus (1), Debretsion Gebremichael (2), Mohammed Hussein Al Amoudi (3)Prime Minister Hailemariam is developing a style of consensual politics, but some politicans and businessmen are having difficulty adjusting.

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This is a generation that has to sacrifice - Ethiopian PM, Hailemariam Desalegn

Ethiopian Prime Minister, Hailemariam Desalegn. Photo©Bruno Levy for TARPrime Minister Hailemariam Desalegn on the government's pact with the youth to provide jobs, how to provide representation for opposition supporters, and South Sudan's missed opportunities.

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South Sudan's warring leaders in peace agreement

Riek Machar (R) Salva Kiir. Photo©ReutersThe warring parties in South Sudan's stop-start conflict have agreed of forming a transitional government within 60 days as part of a peace agreement.

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US Secretary of Commerce wants to see AGOA reaching full potential

United States Secretary of Commerce Penny Pritzker. Photo©US Dept. of CommerceUnited States Secretary of Commerce Penny Pritzker wants Ethiopia and other African countries to make the best out of the Africa Growth and Opportunity Act (AGOA), as the lifespan of the legislation is set to expire next year.

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Ethiopia's Farms and finance

Ethiopia has yet to produce private sector champions. Photo©Ami Vitale/PANOS-REAThe government has a mission to use a strong state to build infrastructure and develop the industrial and agricultural sectors. It argues that it could repeat the rapid growth of East Asia in the 1990s, but critics warn about intimidation of the opposition and the risks of crony capitalism.

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Triumphs and tragedy

World-weary pundits rapidly revised their narrative of a new Africa in the time of Mandela.

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Banking: Visa pushes for more access to barely-tapped Ethiopia

Photo©ReutersVisa Inc., which is piloting Ethiopia's first international debit card, is seeking to persuade the government to ease tight restrictions on banks in an effort to boost the use of electronic payments.

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South Sudan requests for deployment of a regional protection force

South Sudanese President Salva Kiir has called for an expeditious approval and deployment of a regional deterrence and protection force to end ongoing violations of the cessation hostilities agreement signed with his former deputy turned rebel leader, Riek Machar.

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Ethiopian airlines gets new dreamliner as it forges ahead with expansion strategy

Tewolde Gebremariam, CEO of Ethiopian Airlines says the carrier has the youngest fleet in Africa with an average age of seven years. Photo©TAREthiopian Airlines has taken delivery of its seventh B787 Dreamliner as it forges ahead with its expansion strategy.

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Manufacturing: Ethiopia receives World Bank loan to create jobs

Ethiopia on Tuesday received a $250 million dollar loan from the World Bank to finance the implementation of a competitiveness and job creation project in the country.

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