Search Results for: Ethiopia

Ethiopia’s energy sector is undergoing a rapid transformation, becoming a trail blazer for renewables growth in Africa. Although still one of the continent’s poorest nations in Africa (gross national income per capita just USD660 in 2016, says the World Bank), its potential for green energy production is massive.…

AS Ethiopia rapidly emerges as a key clothing and textile hub of Africa, the country has been making impressive strides as a knitwear manufacturing and sourcing centre, attracting the attention of global clothing majors.

“International buyers are beginning to buy knitted clothes from Ethiopia including Zara, Tesco, H&M [Hennes & Mauritz] and Decathlon,” said Fassil Tadesse, president of the Ethiopian Textile and Garment Manufacturing Association (ETGAMA).…

THE EVER-intensifying skyline of Nairobi, Kenya’s capital city, illustrates the rapid economic growth of this equatorial East African country, and its growing workforce is increasingly keen to buy deodorants to keep them dry and comfortable in the office and outside.

An increased focus on banking, industry, manufacturing and construction have raised the country’s gross domestic product (GDP) by 5.3% year-on-year in 2014 and 5.6% in 2015 (Deloitte Economic Outlook 2016).…

Ethiopia airlines, the largest cargo carrier in Africa, is close to completing its cargo terminal expansion as part of a major infrastructure upgrade at Addis Ababa Bole International Airport, serving the Ethiopian capital.

Ethiopian Airlines, with its fleet of two Boeing 757Fs and six Boeing 777Fs, requested the new facility to accommodate increased volume growth and transit traffic.…

Demand is growing for a major international programme designed to support developing countries build up their tax audit capacity and – critically – the funding is there to meet that need. Launched as a joint initiative of the Organisation for Economic Co-operation & Development (OECD) and the United Nations Development Programme (UNDP) in July 2015 after an initial pilot phase, Tax Inspectors Without Borders (TIWB) sees tax experts work side-by-side with local officials in developing and emerging markets.…

Slowly, a central government is re-establishing itself in Somalia. But it is far from being a safe place in which to do business. Even though other sectors (such as livestock) are establishing themselves, the tobacco sector still lacks a functional regulator and effective regulation.…

GOVERNMENTS in east Africa may have been passing legislation and regulation to control the tobacco sector, but these laws’ effectiveness is being weakened by lax implementation.

Kenya has been leading the local pack with controls, in 2007 enacted its first Tobacco Control Act, and in 2014 ratifying the World Health Organization Framework Convention on Tobacco Control (WHO-FCTC).…

EU MINISTERS APPROVE DOUBLE TAXATION REDUCTION SYSTEM

THE EUROPEAN Union (EU) Council of Ministers has agreed a directive insisting that member states establish an effective system for resolving EU double taxation disputes. The system requires dispute resolution mechanisms to be mandatory and binding, with clear time limits.…

THE MIDDLE East and Africa is certainly a promising regional market for nonwovens manufacturers, given the high level of economic growth in many countries and the rise of consumer-culture focused middle classes. But companies need to be sophisticated in their investment and sales tactics given the immense variety of economic and social fortunes experienced by countries in this most diverse region.…

THE EUROPEAN Commission must propose a new blacklist of non-European Union (EU) countries considered high-risk money laundering locations, after the full European Parliament (EP) overwhelmingly a proposed list yesterday (May 17), by 392 votes to 80, with 207 abstentions.

A Parliament spokesperson told Money Laundering Bulletin the Commission had no deadline to produce its third list of countries needing to face stricter controls doing business in the EU, but was expected to do so in the next “few months”.…