Investment

Contrary to Western debt and assistance marked by various forms of economic and political overtones, China, using the South-South Cooperation, is in the process of bestowing a mix of loans with generous terms, debt forgiveness, infrastructure development, and other assistance to African nations so that they could be relieved from Western cultural, political, and economic hegemony. African governments have appreciated and responded enthusiastically to this new source of bottom-up, multiple,...

A new private equity firm based in Mauritius, Ascent Capital, is looking forword to financing local businesses including start-ups in Ethiopia. The company on Friday officially opened its office in Addis Ababa in Abyssinia Mall near Bole Medhayialem Church. Lucas Kranck, managing partner, told Reporters that Ascent Capital has raised USD 50 million to be invested in Uganda, Kenya and Ethiopia. Kranck, one of the founders of Ascent, said his...

Ethiopia’s financial and telecom sectors were at the center of discussions during this week’s the Economist Ethiopia Summit. The country’s officials show signals to open the financial market for foreign investors after some time, while they indicated that Ethiopia has no intention at all to entertain foreign telecom operators. At the summit opened on Wednesday by the Prime Minister Hailemariam Desalegn, some of the invited panelists stressed the financial shortages...

The European Investment Bank (EIB) opened an office on Thursday in Ethiopia, where the economy is expected to grow by 10 percent this year and whose capital hosts the African Union headquarters and some regional U.N. offices. The bank will lend to water, energy and other state-run projects, as well as to the private sector in a country whose 96 million people mostly rely on agriculture and who suffered communist...