Financial Sector in Ethiopia

21

Oct

World Bank Predicts Slow Growth for Africa in 2015

The World Bank says Sub-Saharan Africa's economic growth will slow in the year 2015 due to the fall in the prices of oil and other commodities. In a report released Monday, the World Bank predicts slow economic growth of four percent in 2015, compared to the previous year when growth was 4.5 percent. The economies of these African countries will slow largely because of the fall of oil prices and...

21

Oct

Ethiopia: Banking regulation to transform economy from top down

There is a common misconception about banking regulations in Ethiopia, finance minister Sufian Ahmed tells The Africa Report. In a country with impressive economic growth but very little private-sector dynamism, a 2011 regulation mandated that private banks devote 27% of their loan portfolios to low-interest treasury bills. The measure constrained access to credit, and many assume those funds are channelled into the Grand Ethiopian renaissance dam, a flagship state project that...

21

Oct

Kenya’s economic growth could be highest in sub Sahara Africa – World Bank

Kenya’s economic growth could be the highest in sub Saharan Africa over the next 15 years according to a new World Bank report. The Bank’s half yearly Pulse report on the African economy said that Kenya’s growth should remain “robust” at around 6.2 per cent until 2030, well above that of many other African economies who will suffer from China’s economic slowdown and restructuring away from foreign investment and towards...

21

Oct

African Economies to Grow 4.5% on Average in 2015

NAIROBI—Africa’s fitful and uneven economic growth will gain momentum this year and next, three prominent organizations said in a joint report released on Monday. On average, the continent’s economies will grow 4.5% in 2015 and 5% in 2016, according to the annual African Economic Outlook report by the Organization for Economic Cooperation and Development, the African Development Bank and the United Nations Development Program. While the trend indicates African economies...

21

Oct

Ethiopia prepares to host international conference on development financing

World leaders will gather in Addis Ababa from July 13-16, 2015 at the third edition of the International Conference on Financing for Development. The conference will be held with a view of  launching a renewed and strengthened global partnership  to finance  sustainable development projects that are people-centered. The United Nations Economic Commission for Africa will host the conference, which will be organized by the UN Department of Economic and Social...

21

Oct

Ethiopia’s economy to grow 10.5 percent in 2015/16

ADDIS ABABA (Reuters) - Ethiopia's economy is expected to grow by 9.5 percent this fiscal year ending June before accelerating to 10.5 percent in 2015/16, the World Bank said on Friday, adding inflation will remain in single digits during this period. The ruling Ethiopian People's Revolutionary Democratic Front (EPRDF) has touted its economic achievements before Sunday's election, although no one doubts it will sweep to power again, as critics say...