In the past, Ethiopia has been called the Cradle of Mankind, but today it seems Ethiopia is a guiding light for change, shining over all of Africa.
As new Prime Minister Abiy Ahmed has made incredible moves in gender equality and inclusion with his gender balanced cabinet and appointment of the country’s first female President, Mrs Sahle-Work Zewde, there is also movement to transform Ethiopia into a middle-income nation through the Growth and Transformation Plan by 2025.
Needless to say, the people of Ethiopia have a renewed hope in what the future has in store.
In 2017, Ethiopia’s GDP expanded by 10.9% and is expected to grow by 8.5%, positioning Ethiopia as one of the fastest growing countries in the world and as a result, it is primed and ready to transform through Foreign Direct Investment.
As part of the GTP II, Ethiopia is focused on streamlining investment in all sectors and enhancing the economy through the implementation of industrial parks, which will become key players in the country’s future. Ambassador to the United States, Mr Fitsum Arega says, “Industrial parks are enhancing the telecom, service, manufacturing and agriculture sectors by bringing potential for export growth, technology and skills transfer.
Even more, they create a sustainable business environment, linking local workers to the processing of their products and greatly increasing the ease of investment.” The parks not only make foreign investment easier, but they ensure that the local markets and farmers continue to thrive.
Many of the new changes and advancements in the country are facilitated by technology, which can be implemented in all sectors, from agriculture to transport. Hon. Oumer Hussen, Minister of Agriculture states, “Farmers always rely on the market. In industrial parks, there is a demand-driven approach for our farmers. That produces a big economic impact and guides them to using modernised techniques.”
Technological adaptation in the agriculture sector is especially important as 85% of Ethiopia’s workforce are farmers. Hon. Getahun Mekuria, Minister of Innovation and Technology, states, “In the upcoming two years, at least 2-5% of Ethiopia’s GDP should come from technological value addition. We have planned different strategies: one is value addition to agricultural products such as coffee, as well as e-commerce. Another strategy our Ministry is pursuing is embarking on technological products such as drones. We could employ them to transport cargo, medical and pharmaceutical supplies to rural areas.”
The technology sector is full of opportunity and Ethiopia has a vibrant young workforce to lead it.
Alongside technology, the telecom industry also has its sights set on the future. The sector has experienced incredible progress in recent years and now has plans for nationwide 4G mobile service, as it strives toward 5G.
Frehiwot Tamru, CEO of Ethio Telecom, states, “Telecommunication has a significant social, cultural and economic impact on modern society. It is fundamental for the economic development of any nation. I believe that the telecom market reform is to bring about economic growth of the country.”
Hon. Getahun Mekuria, Minister of Innovation and Technology, adds, “As a government, we see [the telecom sector] as a very good environment for creating jobs and wealth because it will unleash the power of the service industry. The GDP coming from technology will be huge.”
The transportation sector also plays a prominent role in the Growth and Transformation Plan. Tewolde Gebremariam, CEO of Ethiopian Airlines, says “Our ever-expanding freight transport fleet facilitates the export of goods, which has led Ethiopia to stand next to Kenya in horticulture export.”
Other transportation entities, such as the Maritime Authority, are working toward impacting exports, as well. Hon. Dagmawit Moges, Minister of Transport, says, “Lower logistics costs would make our exports more competitive on a global market. The cost of imported items, on the other hand, would decrease, enhancing our country’s purchasing capacity.”
These advancements in infrastructure will enhance the country’s ability to transport product from farms to markets and beyond. Hon. Jantirar Abay Yigzaw, Minister of Urban Development and Housing, says, “With the construction sector booming, we are planning a number of new projects, like the Grand Ethiopian Renaissance Dam.
The first railway line connecting Djibouti to Addis is already operational. The construction sector constitutes a notable portion of Ethiopia’s GDP, and the government is committed to increase funding for infrastructure.”
From every direction, Ethiopia is exceeding expectations, strengthening their economy, and breaking boundaries in its improvement of the country, whether that be through its commitment to social change, gender inclusion, or advancements in technology, agriculture or infrastructure. It seems that the Growth and Transformation Plan of 2025 is not just a plan. Becoming a middle-income nation is a certainty.
– Matthew Scott Rose
How Inverroche Is Pioneering South Africa’s Craft Gin
Inverroche is a progressive craft distillery that pioneered craft gin in South Africa, creating uniquely South African spirits using rare hand-harvested wild African Fynbos botanicals. A true proudly South African product, Inverroche is built on family and prides itself in creating a niche product which looks as good as it tastes.
Founded by Lorna Scott and her family in Still Bay, this petite distillery has grown from a small home industry to a pioneering craft distillery and leader in the world of craft Gins. Inverroche is located in Still Bay in the Cape Floristic region which hosts one of the highest known concentration of plant species known as Fynbos. Famous for its large and diverse variety of botanical species – the South African heritage is intertwined beautifully into the Inverroche brand.
Fynbos has long been used by indigenous people for medicinal and culinary purposes but is now under threat due to agricultural development and invasive alien plants. Lorna felt that one way of preserving fynbos would be to find a commercial use for it and to create a global brand telling the story of these historically significant plants which contributed to the emergence and survival of modern humans. BY doing this she created an abundance of jobs for the local community and this is portrayed by the in excess of 70% local female workforce employed by the distillery.
The Inverroche distillery lies at the confluence of the Goukou River and the Indian Ocean near the coastal resort of Still bay in the Western Cape. Vineyards, olive groves and Fynbos surround the distillery itself, with ancient Milkwood trees marking the boundaries of the estate. The name Inverroche was an amalgamation of French and Celtic words, combined to celebrate the unique geography surrounding the distillery (‘Inver’ refers to the confluence of waters, ‘Roche’ is the French translation of the word rock).
The distillery’s three gins were launched on 16th December 2011, which incidentally, is also the first time that they opened their doors to the public. From selling a few bottles on that first day to now being the leading South African Luxury Gin in both South Africa and abroad.
Each variant of Inverroche (Classic / Verdant & Amber) is carefully created with fynbos from the various areas (Limestone rich lowlands / mountainous terrain / coastal region ) which make them truly unique spirits.
Try the below Gin & Tonic serve with the Inverroche Amber Recipe
Drink Serve Recipe
NAME: AMBER G&T
50ML INVERROCHE AMBER
200ML INDIAN TONIC WATER
3 DASH BITTERS
GARNISH WITH FIG JAM AND SESEAME SEEDS
Charmaine Mabuza Honoured With FORBES WOMAN AFRICA Social Impact Award
Brand Voice by Zamani Holdings and ITHUBA
Group CEO of Zamani Holdings, Charmaine Mabuza was honoured with the Social Impact Award at the 2020 FORBES WOMAN AFRICA Leading Women Summit held in Durban ICC recently.
This award recognizes Mabuza for her measurable philanthropy that has positively impacted the lives of many South Africans for the past 21 years.
At the top of her philanthropical projects is the Eric and Charmaine Mabuza Scholarship Foundation which she founded with her husband, Advocate Eric Mabuza in 1999. The Scholarship Foundation started in Mpumalanga, where the Mabuza’s business hub is centered. Speaking to Ukhozi FM in an interview, Charmaine Mabuza said that together with her husband, they funded this foundation straight from their pockets. “Both my husband and I come from humble beginnings and we know what it’s like to not have means to study further, especially when you believe that education is your way out of poverty. So when we started making good profits from our small businesses at the time, we decided to dedicate a portion of our personal income to funding tertiary education fees of previously disadvantaged children”, said Mabuza.
Powered by Zamani Holdings, the Scholarship Foundation later expanded its reach to the rest of South Africa, supporting over 160 students countrywide, many of which have qualified as Doctors, Chartered Accountants, Engineers, Quantity Surveyors and many more. The 2020 Scholarship Foundation programme launched on 13 January, with an intake of 21 students.
Zamani holdings has empowered the rest its group of companies to roll out CSI initiatives that truly transform the lives of ordinary South Africans. At the forefront of these initiatives is ITHUBA, the South African National Lottery Operator and Zamani’s flagship company.
In July 2017, ITHUBA launched the ITHUBA Female Retailer Development programme, specially designed to empower women who own spaza shops and informal supermarkets, who currently sell National Lottery products, from all around the country. This included women from previously marginalized communities in the rural outskirts.
In collaboration with reputable institutions such as Regenesys and the University of Johannesburg, this programme has upskilled over 100 women in retail business. The latest group of 14 women graduated in October 2019 at the University of Johannesburg’s Kingsway campus, each being awarded a qualification in Advanced Entrepreneurship and Social Innovation.
Zamani’s Social Responsibility initiatives include:
- ITHUBA Graduate Programme: An annual skills development programme for graduates within the Marketing, Finance, IT, PR, HR and Logistics fields, with intake of 13 students in 2020.
- Youth Enterprise Development: Eradicating youth unemployment through developing upcoming entrepreneurs and helping them build sustainable, profit making business.
- Housing project: A project that builds houses for employees in the lower income brackets, who have been in the employment of the company for 10 years and more.
- A media campaign to condemn femicide and violence against women.
“I firmly believe that education is key to eradicating poverty and injustice. This is why all of our initiatives are based on imparting knowledge and skills. Through education we empower, through education we liberate” said Mabuza.
FOCUS ON NIGERIA: The Next Level For Africa
“Foreign companies, especially oil prospects and development companies, have been in Nigeria for about two generations – 40 years and above and so on. So, they know the environment. They stayed that long. They continue to invest because they know the potential Nigeria has in oil and gas and the capacity of the people to learn and work hard.” H.E. Muhammadu Buhari, President of Nigeria
With the recent re-election of President Muhammadu Buhari, Nigeria has secured an additional four years with an administration that is dedicated to the nation in its efforts to continue its path toward bringing Africa to the next level. With the largest population on the continent, domestic demand in Nigeria continues to rise while resources and favourable demographics are attracting the strong flow of FDI. As one of the leading markets in the continent, investment possibilities in the country cannot be overlooked. Improved macroeconomics, which are supported by recovering oil prices and production, has ensured that Nigeria maintains the title of the largest economy in Africa. This title is largely aided by Nigeria’s powerhouse of GDP generation: oil and gas.
Nigeria has seen strong and steady growth in the oil and gas sector over the past sixty years when petroleum was officially discovered. To bring the reality of the oil and gas industry into perspective, the first quarter of 2018 reported that sales of crude oil made up 76.3% of Nigeria’s export earnings, bringing in about US$11.7 billion. In the same time span, processed oil products (e.g. condensates and lubricants) earned an additional US$1.75 billion, which accounted for an additional 11.4% of the total export earnings. In regard to contributing to the immense success of the industry, Segun Adebutu, CEO of Petrolex says, “As integrated energy conglomerate with strategic investments across the energy value chain, we are committed to building communities, transforming lives and driving economic growth and development in Nigeria.”
Driving economic growth and development is ultimately the central goal of His Excellency President Buhari’s administration. H.E. President Buhari says, “The administration is committed to responsibly managing our oil wealth endowments.” The administration’s commitment is further brought to life through a focus on infrastructure development. Nigeria currently has several on-going and upcoming gas projects in the works for the rapid development of the country’s energy sector. One such project is the 614km Ajaokuta-Kaduna-Kano (AKK) pipeline. The AKK pipeline is a continuation of infrastructure built for the domestic gas market. “The AKK pipeline is part of the Gas Master Plan,” says Emeka Okwuosa, CEO of Oilserv. “It is going to move 1.5 billion scf of gas a day and provide resources for power generation and other energy requirements. It is not only a development of the north; it is such for the entire country. So, this single project can transform the whole of Nigeria in terms of industrial capacity.”
The implementation of the AKK pipeline will only further Nigeria’s potential in the industry, specifically by monetising the incredible opportunity in the gas market. Focus on this type of infrastructure is testament to how the current administration is embracing the Gas Master Plan, which is poised to help Nigeria become the gas hub of West Africa while improving the socio-economic development of the nation. Recently, State Minister of Petroleum Resources, Hon. Chief Timipre Marlin Sylva has declared 2020 as “the Year of Gas”, and this proves to be true as the country makes moves to capitalise on gas and improve its local energy distribution. With an extensive roadmap in place, the gas revolution is on the right track to usher in Buhari’s vision for a next-level Nigeria.
Reflecting this dedication to the next level of the sector, Chief Tunde J. Afolabi, Chairman & CEO of Amni, speaks of the potential of gas in the country: “Given that Nigeria has three to four times more gas than oil, companies such as ours should focus more on gas; in our discovery of gas reserves we should look to harness and monetise the gas as we go along. The government is making a requirement that when looking for oil, companies must find a solution for the gas before they are allowed to produce oil.” This mentality will inevitably evolve the prosperous sector toward new avenues and make even greater use of the natural resource.
While the oil and gas industry continues to sustain further growth in forthcoming years, FDI remains crucial for the sector and new investments keep being launched to make sure it continues sustained growth and development. Tein T.S. Jack-Rich, Founder and President of Belemaoil, says “Nigeria has been pretty predominant in the oil business. Nigeria has great potential. We have the demographics to decide the right economic framework.” Investment opportunities range from upstream oil and gas production, such as deposits or drill wells, or in downstream production that focuses on the post-production of crude oil and natural gas activities, such as seen in refineries plant production, or sales. Within any level of exploration, extraction or production, the partnering opportunities are immense.
Under the guidance of H.E. President Buhari’s administration and the Gas Master Plan, the oil and gas sector is destined to spur economic growth and drive industrialisation with linkages to other key sectors such as construction, ICT, power, railways and agriculture. H.E. President Buhari is confident in the future of Nigeria, saying, “We have laid the foundations for a strong, stable and prosperous country for the majority of our people.” As such, the upcoming years are sure to prove that the “Year of Gas” is, in reality, a new era for the industry, which will further signal a new age for Nigerians by creating jobs, facilitating investment, and offering greater access to electricity. While it is known that oil is a constant, Nigeria is showing that gas will continue to play an increasingly important role to ensure that the nation progresses forward towards the next level.
Download issues of Forbes Africa
- Single Digital Issue: Forbes Africa April 2020 - 30 Under 30 R50.00
- Single Digital Issue: Forbes Africa March 2020 R50.00
- Single Digital Issue: Forbes Africa February 2020 R50.00
- Single Digital Issue: Forbes Africa December 2019/ January 2020 R50.00
- Single Digital Issue: Forbes Africa November 2019 R50.00
Subscribe to Forbes Africa
[IN NUMBERS] Coronavirus Update: COVID-19 In Africa
This Entrepreneur Built Tent Floors After Hurricane Katrina. Now He’s Building A Pop-Up Coronavirus Hospital
How Steve Aoki Is Staying Creative While Stuck At Home | Ask The Expert | Forbes
A Physician’s Perspective On The Coronavirus Pandemic | Forbes
A Famous Street Falls Silent: Luring Locals Only Way After The Lockdown
- Health39 mins ago
[IN NUMBERS] Coronavirus Update: COVID-19 In Africa
- Video4 weeks ago
Clara Foods’ Arturo Elizondo Is Creating Egg Proteins To Replace The Need For Poultry | Forbes
- Health4 weeks ago
Here’s The Worst Places To Travel Because Of The COVID-19 Coronavirus Outbreak
- Entertainment4 weeks ago
DJ Zinhle: The ‘Lazy Kid’ Who Achieved Platinum Success
- Brand Voice2 weeks ago
FOCUS ON NIGERIA: The Next Level For Africa
- Entrepreneurs4 weeks ago
Jack Welch: Managerial Genius Who Made One Disastrous Mistake
- Brand Voice4 weeks ago
A Decade of Gert-Johan Coetzee
- Woman4 weeks ago
Clothes Encounters In The Congo: How Fashion Can Be Used As A Tool For Social Change