East Africa focused EdTech company, Ha Hu AG acquired angel investment from César Hidalgo, author of ‘Why Information Grows’.

East Africa focused EdTech company, Ha Hu AG acquired angel investment from César Hidalgo, author of ‘Why Information Grows’. Date: Zurich, Switzerland, 24 January 2022. Ha Hu AG, a gamified Edtech platform, announced César Hidalgo as their angel investor. Founded in 2021 by a young mother, who saw the need for simplified and gamified early education tools for African languages, the company was self-funded before accepting outside financing. Their app, HaHu Scripts debuted its products in Amharic and now is in their next phase to launch two languages: Amharic and Tigrigna. These are languages spoken in East Africa, one of the regions in Africa with the lowest literacy rates. According to the World Bank, literacy rate in 2018 Ethiopia was just 51.8% and 70% of school children and youth did not finish primary education. César A. Hidalgo is a Chilean-Spanish-American scholar known for his contributions to economic complexity, data visualization, and applied artificial intelligence. After spending 9 years as a professor at MIT, he moved to Toulouse, France, where he leads the Center for Collective Learning at the Artificial and Natural Intelligence Institute (ANITI) of the University of Toulouse. He is also an Honorary Professor at the University of Manchester and a Visiting Professor at Harvard’s School of Engineering and Applied Sciences. When asked about Ha Hu AG, Hidalgo commented: “I met Nigist in Zurich on 2021, and I was immediately impressed by her entrepreneurial spirit and vision. As a father of a young daughter, I understand the need for quality online education brought by the pandemic. While there are many resources available in English, the supply is not the same for other languages. Nigist had the vision and the courage to develop an educational product with the potential to support the basic literacy needs of millions of families in East Africa.” Nigist Goytom, Founder & CEO of HaHu Scripts commented: “When the planet went on global lockdown and schools were closed at the outset of COVID-19, the world recognized the demand for digital educational tools. Digital tools enabled remote education and therefore are invaluable for families, educators, refugees, and displaced communities who wouldn’t have access to traditional schooling. As an African migrant tasked with the education of her children, I realized way before the pandemic how little – beginner friendly – educational resources and materials were available for east African languages like Amharic and Tigrigna.  HaHu Scripts makes it now possible for everyone, children, and adults alike, to have education at their convenience in their native language. Our project is a Pan-African project that works on curbing digital inequality and illiteracy one African language at a time. Our partnership with Cesar is one step forward to achieving our goal.” HaHu Scripts is available on all app stores for Android and IOS devices. For additional information: Visit Hahu Scripts platforms and connect with us as below: Website: https://hahugames.com   Twitter: @hahuScripts    Facebook: @hahuscripts Instagram: hahuscripts Tags hahuscripts

Ethiopian Airlines To Get a World Class Lounge

Ethiopian Airlines To Get a World Class Lounge NEWS RELEASE Plaza Premium Group partners with NHY Group to Elevate Lounge Experience in Ethiopia (GLOBAL, 03 February 2022) Plaza Premium Group (PPG), the world’s leading airport hospitality service provider, today announces partnership with NHY Group, Ethiopia’s leading distributor in travel retail and hospitality, to elevate the lounge experience in Addis Ababa Bole International Airport (ADD), one of the major transport hubs in Africa. Plaza Premium Lounge Ethiopia is set to open in March this year at Addis Ababa Bole International Airport Terminal 2 (Departure). As one of the major airport hubs within the African continent and the largest airport in Ethiopia, Addis Ababa Bole International Airport (ADD) records more than 12 million passengers per year. The new partnership aims to elevate ADD’s lounge experience by combining PPG’s 24 years of award-winning expertise and NHY’s extensive understanding in local travel and hospitality landscape. Spanning 1,000 square metres, Plaza Premium Lounge in Ethiopia is designed to deliver world-class services to accommodate up to 325 guests. The Plaza Premium Lounge Ethiopia features a wide range of facilities that cater to different types of travellers. A well-equipped business centre, shower rooms, resting and sleeping rooms as well as a cigar lounge, and an open café/restaurant concept are available for global travelers to relax and unwind, and enjoy an array of dining delights before departing for their destinations. The lounge is designed to provide a distinctive experience for passengers with its culture-inspired design and authentic Ethiopian culinary experience. The owner and CEO Mr. Nur Hussein Yassin of Nur Hussein Yassin (NHY) shared: “This strategic partnership with Plaza Premium Group, the pioneers in airport hospitality services, will further enhance the African travel experience! I look forward to the innovative and premium lounge service for all our passengers at the newly expanded Bole International Airport.” Bora Isbulan, Deputy Chief Executive Officer, Plaza Premium Group said: “Our ambitions to extend our 360-degree world-class airport hospitality services & facilities in Africa are on track. We are excited to be partnering with NHY Group, the leader of travel retail and hospitality in Ethiopia, to further expand our footprint in Africa in this strategic region. Our entry into Addis Ababa Bole International Airport (ADD) is a testament to our strategy and vision to expand our global airport hospitality services & facilities across the world.” “International tourism has been blooming in Ethiopia over the years, combining PPG’s 24 years of award-winning experience, with NHY’s local expertise and knowledge, we are confident that we can deliver diversified, exquisite, and innovative travel experiences to global travellers arriving in and departing from the airport. The partnership aligns with our vision to be in the global airport hospitality industry.” The new Plaza Premium Lounge Ethiopia is Addis Ababa Bole International Airport (ADD)’s only pay-per-use lounge and it is set to open for sale in the coming weeks via Plaza Premium Lounge’s official website (www.plazapremiumlounge.com) and designated distribution outlets. -END- About Nur Hussein Yassin (NHY) NHY – NUR HUSSEIN YASSIN NHY was established over 20 years ago by the owner and CEO Ato Nur Hussein Yassin and has grown to prominence in the Ethiopian market by forging strong partnership with global brands and becoming officially recognized import and distribution partner for these well-known brands and top rated companies. Building on its extensive experience in the sector, NHY focuses on FMCG wholesale & retail, Hospitality, Beauty and Skincare retail, Spirits and wine Travel retail that adds real value to customers and long-term engagement with our suppliers. We are currently engaged in the sourcing and distribution of high quality imported goods in Ethiopia and this has taken us closer to the hearts and minds of every consumer’s and household in the country. We apply our extensive experience in key commodity markets and help secure a steady supply of essential commodities for producers and end-users in Ethiopia. With an annual turnover of more than USD 40 million, our vision is to continue to expand our portfolio and become the preferred local distributor/partner for international companies whose intent are entering the Ethiopian market. As a platinum level tax payer award winner, NHY also contributes to the overall national economic development of our country. About Plaza Premium Group With a mission to Make Travel Better, Plaza Premium Group is the pioneer and industry leader in innovating global airport hospitality services and facilities in over 250 locations of more than 70 international airports across the world. Established in 1998 and headquartered in Hong Kong, the group comprises four core business segments – airport lounges Plaza Premium First and Plaza Premium Lounge; airport terminal hotels Aerotel; airport meet & greet services ALLWAYS and a range of Airport Dining concepts. The Group has also developed Smart Traveller, a mobile-app based global airport membership programme that is designed for air travellers, offering uniquely-curated perks, benefits and rewards experience through points earning and redemption. In addition to its own brands, Plaza Premium Group provides airport hospitality solutions to leading airlines, alliances and corporates around the world, including but not limited to Cathay Pacific Airways, Singapore Airlines, China Southern Airlines, Virgin Atlantic, Air France, Star Alliance, SkyTeam, American Express, Capital One and many more. The Group has won more than 60 accolades in the last five years, including “World’s Best Independent Airport Lounge” for four consecutive years from 2016 to 2021 at the Skytrax World Airline Awards, the global benchmark of aviation excellence, and “Best Airport Lounge Operator” for 2018 & 2019 by TTG Asia magazine. In 2020, the Group has successfully been awarded ISO 9001:2015 for Hong Kong Headquarters, proving the quality management in providing airport lounge services. In addition, the group’s Founder and CEO Mr. Song Hoi-see was named Ernst & Young Entrepreneur of The Year and Master Entrepreneur of The Year 2018 Malaysia. Plaza Premium Group currently employs over 5,000 staff and serves more than 20 million global passengers annually. By continuously innovating and striving to surpass travellers’ expectations of airport experiences, the group is growing exponentially across major international airports globally. To learn more: www.plazapremiumgroup.com Connect with us: LinkedIn @plazapremiumgroup, Twitter @PPG_worldleader and WeChat @PlazaPremiumGroup Media Contacts: Eva Lui, Senior Manager, PR & Corporate Communications, Plaza Premium Group T: +852 3960 1456 E: eva.lui@plaza-network.com

Ethio Telecom earns 28 billion birr in six months

Ethio Telecom earns 28 billion birr in six months Ethio Telecom earns 28 billion birr in six months Addis Ababa: January 30, 2014 (FBC) Ethio Telecom announced that it has earned 28 billion birr in the last six months. Ethio Telecom CEO Frehiwot Tamiru briefing journalists on the company’s six-month performance According to the CEO, the institution has earned 28 billion birr in the last six months. According to the report, the performance is 86.4 percent of the plan.

Ethiopian launches successful test flight of Boeing 737 Max

Ethiopian launches successful test flight of Boeing 737 Max Ethiopian Airlines announced that it has successfully launched its first test flight of Boeing 737 Max in three years. The airline conducted the test flight on its return flight from Addis Ababa to Kenya. The airline also mentioned that the Boeing 737 ET-AVI ET 9201 was one of the planes that was banned from operating after the crash due to technical problems with the Boeing flight control unit in 2018. The flight was returned from Bole International Airport to Nairobi Jomo Kenyatta International Airport in Kenya, Kenya, according to the report. The test is the first of its kind since a Boeing plane crash caused technical problems, resulting in the loss of many lives and property. ENA reports that such a test flight could be used as an eye-opener to bring Boeing back to normal.

NHY Group partners with PPG to elevate lounge service at Bole International Airport

NHY Group partners with PPG to elevate lounge service at Bole International Airport Nur Hussein Yassin (NHY) Group has declared its partnership with Plaza Premium Group (PPG), the largest provider in airport hospitality service to open “elevate the lounge experience” in March 2022 in the ET Terminal 2. The lounge will cover some 1000m2; it is designed to magnify outstanding services accommodating up to 325 guests, including an open cafe and Ethiopian cultural cuisines, resting room along with cigar lounge, business center, and shower rooms. Bora Isbulan, deputy chief executive officer, PPG, added, “Our company objective to expand our world-class airport hospitality services and facilities in Africa are on track. ” “We are eager to work with NHY Group to further expand our footprint in Africa in this strategic region. Our entry into Addis Ababa Bole International Airport is a confirmation of our strategy and vision to extend our global airport hospitality services and facilities across the world.” Nur Hussein Yassin, owner and CEO of NHY stated, “the partnership with PPG will strengthen the African travel delights. We feel enthusiastic about the premium lounge service at the newly expanded Bole International Airport.” Tags Addis Ababa Bole International Airport NHY PPG

Diageo consents to sell Meta Abo Brewery to BGI

Diageo consents to sell Meta Abo Brewery to BGI The Ethiopian Competition Commission, subject to approval, is expected to complete the sale during the first quarter of 2022. Diageo acquired Meta Abo Brewery in January 2012 for US$225m and, since then, has invested US$344m into its expansion to transform the brewing industry in Ethiopia and supported local communities through the provision of clean water. The company mentioned it would continue to service the Ethiopian market “with its international spirits portfolio through its dedicated imported spirits channel.” Meta Abo brewery was founded by the Ethiopian government and Ethiopian private nationals in 1963 as a share company. Initially, the brewery’s production capacity was 50,000hl per annum; however, with Diageo’s investment, which was detailed back in 2015 and saw the company re-launching the Meta brand, it tripled its capacity installed a US$119m bottling line. Sale proceeds have not been disclosed yet. Tags BGI Diageo Meta Abo brewery

Inflation hits 35.1 percent, the highest in over a decade

Headline inflation reached 35.1 percent last month, said the Ethiopian Statistics Service in its report delayed by over two weeks from the usual timeline. Last month’s inflation is the highest in over a decade, a development the Service attributed to the holiday season, which is characterized by spike in prices of food items. Cost of living has been surging in the last two years, due to supply side problems and fast depreciation of Birr against major baskets of foreign currencies, among others. The soar in prices of food is the major factor for the inflationary pressure. Last month, food inflation stood at 41.6 percent, the highest in three months. The cost of non-food items also exhibited an upsurge last month. It has reached 26.6 percent, the highest in over 10 years.

How Ethiopia’s removal from AGOA be a blessing in disguise for the AfCFTA

How Ethiopia’s removal from AGOA be a blessing in disguise for the AfCFTA By Bekan Bekele The Biden administration’s decision to remove Ethiopia from AGOA under the preconceived notion of the human rights violation that has ensued in and around the northern part of the country has caused waves to Ethiopians living in Ethiopia and around the world. After stating the eligibility requirements, outlined in section 104 of the act, which also includes that member countries should also work towards improving their rule of law as well as defending human rights and respecting international labor standards. But the irony in the virtue signaling of the administration is very prevalent in the short-term to long-term effects of the decision to remove Ethiopia for AGOA privileges and the general public who have been benefiting from this trade agreement, which is tallied at around 1 million jobs (directly as well as indirectly) as well as contribute to the development of the country’s economy to sustain itself, will only cause further problems even more so than the supposed “human rights violations” the Ethiopian government has been accused of. With that being said the removal of Ethiopia from the AGOA will probably only cause a short-term economic dis-stability, with the hopes of the acceleration of the AfCFTA. I have laid down three factors that will most likely help speed up the process. The ripple effect caused by the decision of the US to multiple African countries When AGOA was first established in 2000, it was initially enacted to last up until 2015 but it was then renewed for another 10 years until 2025. The main issue with this agreement is that there is no certainty in how long this deal would last for every member nation, if the US decides to not renew this agreement most if not all country members would be left in limbo and be left to fend for themselves. This uncertainty will sure have left the 30+ member states questioning the transformative behavior of this agreement with the USA and will cause these countries to find alternative means of economic stability and longevity to their economic growth. “The future is currently quite unclear, it’s a message that we’re going to be repeating today and over the next two days, that it’s really critical for the US to indicate and make clear what sort of regime it hopes to open up for Africa if AGOA is not extended.”– Betty Maina, Kenya’s cabinet secretary for industrialization, trade and enterprise development, told a private sector virtual forum hosted by the Washington-based Corporate Council on Africa, in October of 2021. That’s when the AfCFTA comes in, if this happens to Ethiopia there is no guarantee it won’t happen to other member African countries. AfCFTA on the other hand is the best option for Africans to determine their fates on their terms and not worry each time they don’t comply with the westerners’ demands for support. Since its initial inception, the main intention was to garner as many African countries into joining this trade agreement which would see them capitalize on labor mobility and other main comparative advantages which would lead to an all-African sustainability program. Currently, intra-African trade is a mere 15%-18%, compared to around 47% in America, 61% in Asia, and 67% in Europe (according to UNCTAD data), but the AfCFTA could radically change that. If the agreement is fully implemented, the gross domestic product of most African countries could increase by 1% to 3% once all tariffs are eliminated, according to UNCTAD estimates. What this shows is by a simple strategy of preferential trade liberalization under the AfCFTA, Africa would become an industrialized continent in mere decades. The rise of pan-Africanism during the current political climate in Africa Pan-Africanism emerged at the end of the 19th century as an idea and later an action plan by Africans who resided in colonial territories – a response to slavery, imperialism, colonialism, and racism. The idea is to create an Africa by Africans to Africans, this means creating a united Africa that would only rely on each other instead of depending on help from other continents. Starting from the second decade of the 21st century, there have been several positive storylines about Africa. At an economic level, there seem to exist various reports that point to Africa as a ‘new growth frontier’. Over 60% of the African population is youth, which means a large number of the potential labor force. In terms of class formation, Africa’s ‘middle class’ shows to be on the rise. The progression of a pan-African agenda will rely upon a major cardinal cognizance: that we need to reclaim, restore and reassert pan-Africanism and overcome neo-colonialism. During the past year and a half, many African countries have been standing up to their neo-colonialist “partners”, stating Africa doesn’t need any more support from their previous colonial rulers. And what better way to do it than to fast-track the African Continental Free Trade Area (AfCFTA). The realization of Africa’s dependency on AGOA, and AGOA’s failure to facilitate sufficient market access among African countries When news broke out about Ethiopia, Mali, and Guinea, the consequences to those countries showcased that African countries under the AGOA were vulnerable to the same outcomes if push came to shove or even if the US decided not to renew after 2025. Despite the fact that AGOA has been instrumental for economic development for African countries, it still has various intrinsic defects that have been neglected in helping countries advance this relationship. AGOA has been ineffective in supporting African countries in overcoming some of the underlying limitations of their economies. Also, for American organizations, it has neglected to work with sufficient market access in African nations. After almost twenty years of AGOA benefits, numerous African nations haven’t been using the opportunity in its entirety: partially because of the narrow structure of their economies, permitting them to just exploit a small number of duty-free lines; and partially because of the US market direction to economies of scale in manufacturing and exports to be competitive (even with a duty-free advantage), so rather than making it easier it made it remain the same. So, what’s next for Ethiopia and the rest of Africa? As an economist I have to say it like it is, the removal of Ethiopia from AGOA will have deep underlying repercussions. Even though the numbers aren’t that significant when it comes to the quantity of exports and the quantity of foreign exchange gained during the AGOA period. In fact, as the years went by the balance of trade was in favor of the USA as opposed to Ethiopia (the one that should be benefiting the most). Source: agoa.info Although, Ethiopia was experiencing a negative trade balance it doesn’t imply the US was gaining from it either. What the data shows is the amount of exports Ethiopia had compared to the US. Before the AGOA the US wasn’t exporting as many commodities to Ethiopia as compared to its later years, but the same goes for Ethiopia. In 2000 Ethiopia only exported $29m worth of commodities to the US, but in 2020 Ethiopia had exported $525m worth of commodities, which can be attributed to the AGOA. So even though the positive trade balance seems to tilt to the US rather than Ethiopia it still implies without the AGOA the balance of trade would possibly look even worse. The other huge loss to Ethiopia is the large amount of unemployment it would cause, hundreds of thousands of people will lose their jobs. This would-be adding salt to the wound because Ethiopia already has been struggling with double-digit unemployment rates for at least a decade. In conclusion, as Emperor Haile Selassie I once said while speaking to the league of nations (specifically directed to African countries) ‘if it happened to us, it will happen to you. This very statement applies now more than ever, so as Africans we should unite and help fast-track this African continental free trade area agreement as soon as possible by supporting policies that would speed up the process. Bekan Bekele is a researcher for Wennovate Consultancy, a private consultancy firm that specializes in entrepreneurship, tourism, and investment. You can find him at bekan.bekele74@gmail.com Tags AGOA

Ethiopian diasporas replete with industrial investment opportunities

Ethiopian diasporas replete with industrial investment opportunities Ethiopia’s economy has been on a continuous and high growth trajectory since the turn of the millennium, registering an average annual growth of over ten pc. It’s about double the average growth rate recorded for sub-Saharan Africa over much the same period. 13 industrial parks in work sectors, including pharmaceutical, agro processing, and textile and garments, are the leading sectors. Following the recent call by PM Abiy for Ethiopian diasporas’ homecoming, various investment opportunities are prepared to encourage the Ethiopian diaspora to invest in their own country. The latest amendment to investment law opens the door to vast opportunities for the diaspora: As they are now to be considered domestic investors, succeeding the AGOA trade benefit sanction by the US, the government has been looking for other options to sustain the development of the industrial parks. According to Jay Jay Lanka Group, one of the world’s leading babywear manufacturers, the sanction significantly affected production and orders, taxation, and just set backing the process. However, it’s still functioning well with optimizing the output. The company employs 8500 employees. Over 90pc of it is women. “we produce 90,000 packages every day, so far the sanction doesn’t have a huge effect on us, but indirectly we’ll be affected to some extent, and our fear is production is reduced in slight amount” mentioned Aself Tekie, production recorder. The initiative includes a full-service package of basic infrastructures and facilities. In the parks, a share is available to buy and start their investment for diasporas. The initial investment request is submitting a proposal and issuing an investment license. The investment is available in apparel, leather, garment, and agro-processing with 90 hectares of service land. “It’s interesting to involve diasporas in a way it’s happening now. I appreciate the incentives the government is laying down for diasporas,” mentioned Mihret, a diaspora from Canada. Tags ehtiopian diasporas IPDC