ECA’s Executive Secretary, Vera Songwe announced that plans are underway to set up the African Women Leadership Fund to help speed up the growth of women-led businesses around the Continent.
Speaking in Nouakchott at a joint AU-EU High Level side event titled, “Women in Power”, Ms, Songwe said, “Depending on the resources we raise, and with our target being five hundred million dollars, we will create a network of young women fund managers, train them for two years and put them out in the market.”
The innovative Fund seeks to address the fundamental gap in the access of women to finance architecture. As such, it will seek to lower the hurdles of women-owned businesses, promote investments in micro enterprises and take women’s cooperatives to the next level.
African Women Leadership Fund to bolster women-owned businesses
First oil shipment goes to Chinese glass factory near Jomo
The first batch of the Poly GCL Petroleum Group Holdings Limited’s Hilala light crude oil was delivered to Hansom Glass Factory, on Friday on July 6, 2018.
The Quadrant Investment Group plc, a logistics company, started transporting the crude oil to Addis Ababa from Hilala which is almost 1,200 km from Addis Ababa.
Dawit Shiberu, Chairman of the Board of Directors of Quadrant, has confirmed that his company delivered the first batch of crude oil to a Chinese glass factory located at the south west edge of Addis Ababa around Jomo.
It was on June 28 that the official extraction of the crude oil was inaugurated in Ogaden, Somali region, in the presence of federal and regional representatives and the Poly-GCL Petroleum Group.
It has been reported that the crude oil will be delivered to the heavy industries that need more energy. Accordingly factories like cement, glass and steel are likely destinations. These companies have been importing the product from abroad.
Crude oil production has a volume of 450 barrels a day, which is a capacity for a single fuel tank truck.
According to Dawit, the country commenced 450 barrel testing crude oil production.
“It is a good success for the country since it can replace imports,” he said.
Dawit told Capital that the transportation of a daily production takes two days on the road, which is mostly asphalt.
It is expected that the next transportation of the crude oil will be to Derba Midro Cement and Sino Steel factories.
Derba Cement is located at Muger Valley, 68km north-west of Addis Ababa. The recently established Chinese steel factory Sino is located around Sheno 79km north east of the capital.
About 27 companies have been competing to handle the transportation but only two are shortlisted including Quadrant, which was established in Ethiopia in 2010.
The company is mainly engaged in the logistics service and is also known for its camp construction and management, remote catering and waste management services. It has been working in logistics support with several mining companies mainly those engaged in gas and oil exploration including Tullow, New Age and Gasprom.
The amount of gas reserve discovered by Poly-GCL is estimated to be 6 to 8 Trillion Cubic Feet. Poly-GCL is a company formed by the China POLY Group and GCL Group to develop oil and gas projects in Ethiopia. Poly-GCL is undertaking further exploration at the area to know the total reserve oil at the location. The natural gas is expected to be transported via pipeline to Djibouti, a place where the natural gas refinery will be built and exported to the world market. The company is also considering forming a micro refinery to change the crude on different petroleum products.
A company owned by Dawit, Newera Mining PLC, is also involved in the mining industry. It has agreed with the government to be the first large scale miner in the silica sand production, which is an industrial input for bottle and glass factories.
Tobacco enterprise closed for environmental pollution
After receiving repeated complaints from people living near the National Tobacco Enterprise the Addis Ababa Environmental Protection Authority (AAEPA) closed the enterprise located in Sarbet because the smoke and odor being emitted by the company is harmful to people living around there.
The enterprise was ordered to plant treatment machines to restart the operation.
Dwellers in the area said the company discharges its waste in a normal drainage system and they suspect that the pollution has created problems with their respiratory system.
After closing the enterprise last Friday AAEPA officials told Capital that dust and waste coming through the company threatens human lives.
“We have warned them many times but they are not willing to do what we ordered and finally we were obliged to close it till the matter is solved with the right treatment plant.’’
The enterprise which lies on 20,000 square meters has also faced criticism for poor safety management and treatment of employees.
Capital’s effort to get an opinion from the enterprise was not fruitful.
Recently Forty percent of the enterprise was sold to Japanese tobacco giant, Japan Tobacco International.
Japan Tobacco International (JTI) won the open international bid for the partial acquisition of the National Tobacco Enterprise SC.
A year ago JTI acquired 40 percent of NTE with a record sale of USD 510 million. The deal was the second largest in the history of the country.
Currently JTI spends close to USD one billion on Ethiopia’s tobacco industry in just one year, through the privatization of NTE. They now own 70.95 percent share.
Currently, JTI has a presence in seven African countries, including Sudan, South Africa and Nigeria.
The number of smokers in Ethiopia is higher than most African countries due to its population size. More than 100,000 children and 2.3 million adults smoke cigarettes each day in Ethiopia, according the tobacco atlas – a compendium of research on tobacco use by the American Cancer Society and the World Lung Foundation. Over the past five years, the annual turnover of the NTE has continually increased by an average of 190 million Br. It offers five brands: Nyala, Gissila, Elleni, Delight and Nyala Premium. The company currently employs close to 1,000 workers.
The Future of the African Fine Art Industry
ICT Expo Ethiopia, under the theme Transform Ethiopia, recently wrapped in Addis with thousands in attendance, anxious for a sneak peak of the ET Tech horizon. The Expo was a platform for the public and private sector and people in all stages of life; including folks at career crossroads trying to re-invent themselves…pun intended. The innovations presented, for the not-so-far-in the future, have been propagated through STEM programs over the past decade. Side note: the acceptable revised term is STEAM. You guessed it, A for Arts. So as artificial intelligence (AI), blockchain, crypto currency, multi-use drones and a humanoid robot called Sophia who met PM Abiy Ahmed, were featured, this triggered my thoughts about the theory of disruption.
Disruptive innovation is terminology used in tech-spheres referring to innovation that creates new markets, adds value to networks; displacing existing firms, goods, business models and relationships. So how is disruptive innovation related to African fine art, especially in the arguable absence of a system to displace? Bob Marley sings in Redemption Song, “…none but ourselves can free our mind…”. I propose that existing mindset and perceptions of fine art must be disrupted and displaced in order to build a solid industry. Consistent with sneak peaks into Tech, I share a list of careers on the Africa Art horizon for those who wish to diversify and develop the art industry.
Art Consultants assist individuals to institutions in the selection and acquisition of art for homes, businesses, collections and investment.
Art Appraisers offer professional opinions, based on extensive research, on the value and validity of art for insurance, tax valuation, auctions, divorce and estate settlements.
Art Educators include teachers from kindergarten to college who instill value for visual art, encourage free flow of ideas and innovation; while expanding the vocabulary and related professions such as art therapy and technology.
Art Accountants specialize in tax laws, ensuring appropriate deductions and protections for clients.
Art Historians possess higher education; studying, discussing, documenting and some times restoring art.
Art Tourism Experts/Consultants help the public and private sector develop tourism strategies based on the Creative Cultural Industries (CCI) for local and continental tourism; create PR campaigns for acquisition and promotion of high profile artworks, public art, exhibitions and more.
Art Tour Guides take tourists to studios, galleries and museums; they have a basic knowledge of the artists and art work, with relationships in the art community.
Art Dealers buy and sell art, and can impact the price and trajectory of artwork and exhibitions, when part of a recognized association of Art dealers.
Art Agents/Promoters use their vast network of contacts with media, ministries, businesses and more to promote artists, their work, institutions, exhibitions and shows.
Art Curators organize exhibitions from selecting, documenting and interpreting art to coordinating catalogues and arranging show related logistics.
Art Restoration provide services to museums, galleries and collectors with older works in need of restoration, conservation and preservation,also included may be frame repairs, cleaning and retouching.
Art Framers/Installers provide a range of services from making canvases for artists, professional framing and displaying art in galleries, museums, homes and businesses. They handle art with care, ensuring safe and aesthetically sound displays.
Art Critics publishin-depth analysis and evaluation in the form of critiques or reviews in print and on web based sites, frequented by collectors and art aficionados alike.
Art Journalists report, profile and discuss artists, their works and the impact of said on current affairs or society in general.
Art Tech Experts create virtual exhibitions, database for art/artists and develop e-commerce solutions for buying, selling and marketing art.
Art Insurance companies provide coverage for artworks from personal collections, museums and galleries to businesses and established artists.
Art Packing/Transportation ensure the safe packing, transport and delivery of fine art.
Art Materials Manufacturers/Distributors/Sales speak to the providers of paint, pens, pastels, charcoal, art/photography paper, brushes and more.
While this list is by no means exhaustive, it does represent a snap shot of opportunities on Ethiopia’s horizon for a growing generation of innovative entrepreneurs working on the ‘what next’. It’s also relevant for existing businesses, with vision, seeking to expand existing line of products and services. Equally important is the chance for Ethiopia, and Africa in general, to benefit from a fast growing demographic known as the creative class, who can afford to drive a viable art industry. So just as humanoid Sophia has been welcomed to Ethiopia by our PM, with a tacit ‘commitment to nurturing an innovation ecosystem,’ we propose a similar exploration, expansion, injection and application of attention to policies that grow this multi-billion dollar industry which employs millions of women and youth in Africa and worldwide.
Dr. DestaMeghoo, Jamaican born Creative Consultant and cultural promoter is based in Addis Ababa. She settled in Addis Ababa as former Managing Director of the Bob Marley Foundation, in 2005 and currently serves as Liaison to the AU for Ghana based, Diaspora African Forum.
