Regrettably, natural resource gifted continent in the world is also home to a staggering level of poverty and corruption
It is a widely held belief both by economists and policy makers that extractive resources worldwide have dictated to a wider extent economic policies and outcomes of countries endowed by them. According to a 2002 World Bank report on mining in developing countries, extractive resources are the decisive economic factors to almost half of the world’s population.
I found your lead article of the October edition of your magazine rather interesting. (Hopes ignited die last than shattered soon, Oct. 2012). Following the death of your late PM, Meles Zenawi, your country is undergoing through an exciting period. My expat colleagues and I were very relieved to witness that unlike the doomsday reporting by the media and think-thank organizations such as the International Crisis Group (ICG), the first phase of transition went as smooth as anyone wishes it to be. Your country has a lot going for it. Although it was unfortunate to lose its leader at such a critical period, however sad that may be, party officials who are in charge of running the country must put their differences aside and work hard for the betterment of the country and its people at large. News about the alleged split within the party comes as bad news to the business sector as stability is the only winning point the country has to attract foreign direct investment, no matter how small.
Mercifully, Addis Ababa has avoided having slums in many of its neighbourhoods; but that may be only so far
In 2004-5, residents of Addis Ababa city woke up to a pleasing news when they were asked to register in their respective Kebeles for a new housing scheme that since then has come to be popularly known as condominium housing projects. For a city, which, by some conservative estimates, has 80% of its residents living under housing conditions that are not considered decent, the news that the government plans to build thousands of condominium houses for low income families was indeed a big one. Some people had their doubts about and voiced their concerns on whether such initiatives were not meant to win voters’ favour for an upcoming national election scheduled to take place in less than one year after the announcement of the program. Others dubbed it too ambitions.