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Adwa Pan Africa University awaits completion

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The completed design and the full cost of the of Adwa Pan Africa University has not been finalized yet despite the fact that PM Hailemariam Desalegn and Uganda’s President Yoweri Museveni laid the foundation nine months ago.
The Tigray Administration gave 150 hectares of land for the school but some houses in the given area needed to be relocated to begin the construction.
The committee, made a temporary design after getting feedback from religious leaders, historians, foreign and local scholars, politicians and other concerned bodies.
The draft design which was shown at a meeting in the presence of Hailemariam Desalegn on January 15 at Sheraton Addis Hotel included a building for Natural and Social Studies including Pan Africa studies and a wall which has a picture of patriots in the Adwa war, and nine arch shapes which symbolize the nine regions of the country .
Betew Belay who is head of the committee working to build the university, said they will have an international conference in a few months to obtain valuable feedback from local and foreign stakeholders. pan-africa-university
“We sincerely thank Prime Minister Hailemariam Desalegn for his commitment to help us build the university and we are tirelessly working to involve stakeholders in the project and we will try our best to start the construction after we have completed the necessary steps.”
The PM has pledged 200 million birr from the government. He says the university will be effective on a global scale.
“Adwa is the victory of the our past generation the university will belong to the Ethiopian people, we will also have a museum that showing our bravery against foreign aggression and my government will do more to put this idea in to action.’’
Adwa Pan Africa University is the first of its kind in Ethiopia. It is being built to commemorate the Adwa victory.
Construction of the Adwa Pan African University was officially launched in the city of Adwa, Tigrai State in northern Ethiopia on April 23, 2017. The cornerstone laying ceremony was attended by many African leaders including the Nigerian, South African, Malawian, Liberian, and Burundian former presidents. In addition the current Vice President of Botswana, the Puntland administration president and other dignitaries from all over Africa attended the cornerstone laying ceremony
The Battle of Adwa was fought on March 2, 1896/Yekatit 23, 1889 according to the Ethiopian calendar between the Ethiopian Empire and the Kingdom of Italy near the town of Adwa, Ethiopia, in Tigray. This climactic battle of the first Italo-Ethiopian War, was a decisive defeat for Italy and secured Ethiopian sovereignty.

Another group of Access home buyers ask gov’t for their homes

A group of people who bought homes from Access Real Estate, a developer who has been in turmoil for the past decade, are insisting that the government help them obtain their homes as opposed to considering other options.
The petition, signed by 325 home buyers, asked the government to intervene so they could obtain a home at the actual cost they paid years ago to Access Real Estate.
Access, who was able to amass a huge amount of money from over 2,500 home buyers within a limited time frame failed to transfer a single house.
In the past five years the company has experienced more difficulties since the company’s founder, former board head and CEO, Ermias Amelga left the country after he was unable to transfer houses or refund the money to clients. He also sent checks to some of the home buyers which then bounced.
In the meantime the government has gotten involved in the chaotic situation at the request of the home buyers some of whom are out of the country. The government has played a crucial role in getting Ermias to return. He is believed to be a key to a solution while the case is still in limbo.
When Ermias returned from Dubai after the main committee, which is formed by the order of the PM and includes top government officials, intervened, the company and representatives of home buyers, proposed that Access Real Estate construct houses for all home buyers via partnerships with other international companies without any additional funding from clients.
However, the founder disagreed on various issues including settling the balance payment for the former owner of Imperial Hotel, who sold the property to Access and transferred it to Metal and Engineering Corporation (METEC), a military affiliated engineering firm.
According to the information Capital obtained a week ago some home buyers, who recently signed a petition pleaded with PM Hailemariam Desalegn to have the government to establish an independent caretaker/trustee board overseeing construction of their homes.
Bekele Woldemichael, who legally represents 168 home buyers under the contractual agreement with Access/Pacific Link and Demekirstos Zemene, two of the four individuals that signed the cover letter of the petition that was sent to the PM told Capital that they want their homes built without spending an additional penny.
“We know that the audit report stated that the company’s assets are positive which means the company has the capacity to construct the homes,” Demekirstos, who came to Capital office to express the home buyers’ position, said.
Sources close to the issue said that most of the home buyers who paid the entire price of the home prefer that they get a home without any additional cost.
The audit report carried out by the Audit Services Corporation and submitted to the Ministry of Trade on April 7, 2017 indicated that the company had collected 1.3 billion birr. The major share or 1.16 billion birr came from home buyers.
The company states that the amount the home buyers paid five to ten years ago is now not enough to construct the house they agreed to in the contract, which means they need to pay more because the value of the money is not the same now. However, Bekele counters that contractual agreement has to be honored. “We have a right to get the benefit as per the verdict,” Bekele, whose represents a group of home buyers who purchased homes at a site called Pacific Link and obtained a verdict in the courts, told Capital.
The 325 individuals demanded to receive their houses without any more funding.
“The number of home buyers who signed the petition will be increased if we get the others involved,” Demekirstos argued. He also said that the individuals who paid the full amount would take the majority of the money collected from home buyers.
They claim the main committee of home buyers is not representing them and argue that this will help the housing debacle get resolved.
“We disclosed to the government that we don’t agree with the decision of the main committee and it does not represent us,” Demekirstos said.
Two weeks ago the main committee of Access home buyers visited the Ministry of Trade office to discuss why it has taken so long to find a solution to their problem. Since they appeared without an appointment they did not have enough time to express their concerns, but Bekele Bulado (PhD), Minister of Trade, agreed to meet them on Wednesday January 10 at the MoT Hall. The committee and Bekele met that Wednesday. Sources told Capital that in the meeting the minister promised to solve the problem as soon as possible.

UNCTAD’s trade statistics handbook looks into Africa’s trading advantages and disadvantages

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The past couple of years have been tough for African countries in the business of trade, a statistics report by United Nations Conference on Trade and Development shows. According to the report, a slowdown in trade was particularly evident in merchandise exports, which fell by 10.5 percent. Decreasing volumes of goods loaded in seaports for international shipment and falling foreign direct investment receipts also illustrated the challenges, the findings show. Nevertheless, for the region, GDP grew by a modest 1.7 percent.
Other factors for Africa’s less than satisfactory trade sector includes the fact that the sector remains characterized by low product diversification and high dependency on raw materials compared with other regions of the world.
The report also shows that decreasing commodity prices in recent years have led to deteriorating terms of trade. This deterioration was reflected in large trade deficits for manufactured goods, which were not outweighed by trade surpluses for primary products. Consequently, Africa ran a merchandise trade deficit, as their percentage of exports, was much higher than other developing regions.
Other statistics, available in the report, indicate some favorable trends for African economies. Since June 2016, for example, the UNCTAD commodity price index has been increasing year-on-year. The current account deficit of many African economies stabilized in 2016 and stopped rising. Looking at demographic trends, the proportion of people of working age in Africa is expected to grow rapidly, yielding a demographic dividend and a positive effect on labor supply. The same favorable trends have been seen in 2017.
The report also illustrates the importance of trans-continental and intra-region trade and how they vary across continents. In 2016, the exchange of goods between China, the United States of America and Germany amounted to almost USD 1 trillion – 6 percent of world merchandise trade.
In the same year, 69 percent of the European exports remained within Europe and 59 percent of the Asian exports, in Asia. By contrast, for Northern America, Latin America and the Caribbean and for Africa, most exports were delivered to economies in other continents than that of the exporter.
UNCTAD’s report referred to as a Statistics Handbook provides a coherent overview of trends worldwide and novel summary analyses of countries, regions and sectors.
According to UNCTAD’s Deputy Secretary-General Isabelle Durant “Reliable statistical information is essential to support, evaluate and guide policy choices for all nations, and notably developing countries, providing them with tools that are not always easy for them to produce. Such tools are indispensable, both for their national economies and development, and to better integrate them into the global economy.”

Global economic growth offering new opportunities

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Africa’s eastern countries are experiencing the most rapid economic growth on the continent.Djibouti, Ethiopia,Rwanda and the United Republic of Tanzania, underpinned by infrastructure investments, resilient services and the recovery of agricultural production are growing the fastest, according to the Economic Situation and Prospects (WESP) 2018 report that was launched in Ethiopia on Tuesday, January 16, 2018.
In other African regions, the report states that Senegal in West Africa has joined this group of rapidly growing economies, spurred by greater competitiveness, progress in structural reforms and favorable external conditions, such as positive terms of trade, favorable climatic conditions and a stable security environment.
The report shows that Africa’s aggregate GDP masks considerable variation among its sub regions. The less resource-dependent countries in East Africa, such as Djibouti, Ethiopia and the United Republic of Tanzania, and in West Africa, including Côte d’Ivoire, Ghana and Senegal, will continue to witness above average growth, supported by vigorous infrastructure investment, strong service sectors and a recovery in agricultural production.
By contrast, many oil and minerals exporters will witness weak growth, as commodity prices remain well below their 2014 levels and fiscal consolidation efforts constrain public investment.
Some Least Developed Countries (LDCs) of the world face prominent growth challenges, the publication also shows. Conflict-afflicted Yemen has been in recession for the past several years. The ongoing armed conflict has inflicted significant damage to the agriculture sector and itscrumbling institutional infrastructure is expected to prevent a significant rebound in the near future.
After an estimated growth of only 1.3 per cent in 2017, Haiti is forecast to see a moderate pickup in economic activity by 2019, amid continued reconstruction of infrastructure and recovery in the agricultural sector. However, severe macroeconomic imbalances, political unrest and natural disasters threaten to derail the recovery.
Findings also show that strong public and private investment is a common feature among those LDCs that are growing at over 7 per cent per year. As explained in the State of the Least Developed Countries 2017 (UN-OHRLLS,2017), another significant publication, an additional investment of USD 24 billion per year would suffice to bring the group, on average, to 7 percent GDP growth between 2016 and 2020.
Looking at other parts of the world, the report states that the recent pickup in global growth stems predominantly from firmer growth in several developed economies, although East and South Asia remain the world most dynamic regions. In 2017, East and South Asia accounted for nearly half of global growth, with China alone contributing about one-third.