society
Revealed! Ethiopia Is Now Africa’s Fastest Growing Economy
Ethiopia Is Now Africa’s Fastest Growing Economy
CNN) — Ethiopia, Africa’s second most populated country, is forecast to be the fastest growing economy in Sub-Saharan Africa this year, according to new data from the IMF.
Ethiopia’s economy is predicted to grow by 8.5% this year.
The figures signal continued economic expansion following a long period of impressive growth. In the last decade, Ethiopia has averaged around 10% economic growth, according to the IMF.
To boost the economy, the country is pursuing a number of large-scale infrastructure projects, including the Grand Renaissance Dam and a railway network.
“(Ethiopia) has had a very high growth rate and I think that’s a result in large part of a very concentrated effort by the government to boost industrial production and manufacturing,” said Vijaya Ramachandran, an economist at the American think tank Center for Global Development (CGD).
Ramachandran, along with three academics, released a report suggesting Ethiopia can follow in China’s footsteps, and become a destination for low-wage manufacturing jobs.
However, despite sustained economic growth, in the past few years Ethiopia has experienced increasing unrest from Oromo groups in the Oromiya region. According to human rights groups, the government has suppressed basic rights and freedoms.
New Prime Minister Abiye Ahmed was sworn at the beginning of April, signaling an intent to ease tensions.
Economic Growth.
Ivory Coast is expected to be the second fastest growing economy in the region at 7.4%. Rwanda’s estimated economic growth is 7.2%, and the West African country Senegal is projected to have 7% growth.
The data reveals that Ghana, which was previously forecast as the fastest growing economy in Sub-Saharan Africa in October 2017, at 8.9%, slowed in its predicted growth to 6.4%. Last year, a reported surge in oil and gas production helped propel the country’s economy. Related Article:44 African countries agree free trade agreement, Nigeria yet to sign
Nigeria, Africa’s largest economy, is predicted to grow by 2.1%, an increase from 1.9% forecast in October 2017.
“They’ve updated it to 2.1%. However, they have emphasized the risks. The falling commodity prices and imbalances that are to arise because of the elections,” Bismarck Rewane, a Nigerian economist, told CNN.
Related Article: Tanzanian govt demands $930 fee from bloggers in internet clampdown
South Africa’s predicted growth stands at 1.5%.
Long term, according to a report from the World Bank in 2016, the proportion of the African population in extreme poverty has declined, but the overall number has increased as the continent’s population expands.
Growth across the whole region is forecast to average 3.4%, below the total world growth figure of 3.9%.
NAWOJ: SEKINAT, CHARITY GETS VOTE OF CONFIDENCE
The Nigeria Association of Women Journalists,(NAWOJ), Ogun State Chapter Executives has unanimously passed a vote of confidence on Chairman NAWOJ SEKINAT Salam and the Financial Secretary, Charity James, saying that, their leadership reflect the ideal and objectives of NAWOJ.
This was revealed in a communique issued at an Emergency meeting of the Executive held at the NUJ State Council, Iwe-Iroyin in Abeokuta.
The vote of confidence on the Leadership of NAWOJ was unanimously signed by all the five executive members that attended the meeting with the vice chairperson taking apology for official engagement outside the state capital.
According to the communique ” Consequently, NAWOJ Ogun State Chapter, reaffirms it’s unwavering support and confidence in the Chairperson and the Financial Secretary, Sekinat Salam and Charity James respectively, Urge them to continue in their commitment to purposeful leadership in the best interest of the association and the society at large”.
Speaking briefly with Journalists after the emergency Executive meeting, the Chairperson, Nigeria Association of Woman Journalists (NAWOJ), Com. Sekinat Salam, said the meeting was necessary as the news of her suspension was laughable and insulting because it is like a pot calling a kettle black in this case, saying that the Leadership of the State Council, Com. Wale Olanrewaju has no local standing to suspend her or any executive member, even he cannot be a judge in his own case.
According to her” The Leadership of the Nigeria Union of Journalists, Ogun State led by Wale Olanrewaju has always been misusing power without recourse to the constitution of this noble Union, hence has no local standing to suspend me or any executive member “.
She said only the Central Working Committee (CWC) has the constitutional rights to sanction or suspend any members found wanting after due process has been followed.
While calling on members to stay calm, Com. Sekinat Salam assured members of positive representation of NAWOJ at both the State and National level, adding the success recorded under her administration cannot be overemphasized.
She therefore called on the National leadership of NUJ to critically look into the matter, either by setting up independent committee to investigate the issues and resolve the matter as quickly as possible.
Adron Homes Chairman Congratulates Oyo State on 50 Years of Progress
The Chairman and Chief Executive Officer of Adron Homes and Properties Limited, Aare Adetola Emmanuelking, has congratulated the Government and people of Oyo State as the state marks its 50th anniversary, describing the occasion as a celebration of resilience, cultural pride, and sustained progress.
He noted that since its creation, Oyo State has remained a strong contributor to Nigeria’s socio-economic and cultural development, emerging as a hub of commerce, education, and innovation.
According to him, the Golden Jubilee offers a moment for reflection and renewed commitment by government, private sector players, traditional institutions, and citizens toward building a more inclusive and prosperous state.
Aare Emmanuelking commended the state’s ongoing transformation through investments in infrastructure, economic expansion, and human capital development, adding that sustainable growth is deliberate and must remain purpose-driven.
He also praised the leadership of the current administration while acknowledging the contributions of past leaders whose efforts laid the foundation for today’s Oyo State.
Reaffirming Adron Homes’ commitment to national development, he described Oyo State as a land of opportunity. He wished the state continued peace and prosperity, expressing confidence that the next fifty years will bring even greater achievements for the Pace Setter State and its people.
TY BURATAI HUMANITY CARE FOUNDATION CONDOLES WITH BIU EMIRATE OVER TRAGIC ATTACK
In a profound expression of sorrow, the TY Buratai Humanity Care Foundation has extended its heartfelt condolences to the families of the victims and the entire people of Biu Emirate, Borno State, following the recent tragic attack attributed to Boko Haram. This devastating assault, which occurred at a work site in northeastern Nigeria, claimed the lives of dozens, including brave soldiers committed to protecting the nation.
In a statement released to the press and signed by the Chairman of the foundation, Ibrahim Dahiru Danfulani Sadaukin Garkuwan Keffi/Betara Biu, the Grand Patron of the Foundation, His Excellency Amb. Lt. Gen. Tukur Yusufu Buratai CFR (Rtd), former Chief of Army Staff, described the incident as “one too many senseless, barbaric, and ruthless displays of inhumanity.” His Excellency emphasized the heartbreaking impact of such attacks on innocent, hardworking citizens striving to make a positive difference in their communities.
The Grand Patron praised the swift and decisive response of military personnel during this critical time, underscoring their brave commitment to safeguarding the nation. He called upon them to maintain this momentum, commending their courage and sacrifice in the face of adversity. “May Almighty Allah forgive their souls and grant them Aljannah Firdouse,” he remarked, encouraging the nation to honor their spirit of sacrifice as they rally together to rebuild and restore hope across the region.
In his statement, Gen. Buratai highlighted the importance of collective action in overcoming the challenges posed by insecurity, urging concerned citizens to increase their efforts in fostering a virile community that future generations can cherish. “Together, we can surmount these troubles,” he asserted, calling on all patriotic leaders and citizens to unite in the fight against violence and insecurity.
The TY Buratai Humanity Care Foundation remains committed to supporting initiatives that promote peace, security, unity, and prosperity. As the foundation extends its condolences to the bereaved, it also calls upon all segments of society to collaborate in creating a better and safer future. May Allah guide and protect the nation and lead it toward enduring peace. Amen.
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
Business6 months agoBatsumi Travel CEO Lisa Sebogodi Wins Prestigious Africa Travel 100 Women Award
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING
You must be logged in to post a comment Login