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Plugging British investors to Ethiopian businesses

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British embassy in collaboration with Grant Thornton organizes an event called private equity. The event aimed to provide an online deal matching services that bridges the gap between UK funders and investment opportunities in Ethiopia.
The event which was held on June 7, 2022 at Hyatt regency hotel in Addis Ababa saw experts and panelists discussing on the challenges and opportunities of Private Equity investments in Ethiopia as well as key insights into securing and capitalizing on investment opportunities from the perspective of both the investor and investee.

HOW COULD A CEMETARY BE DEVELOPED?

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At the outset, we would like to acknowledge the usual complaint that goes more or less like this; after all, Africa is an amalgam of 55 nation states, hence it is erroneous to lump all these countries together and prescribe similar policies, just because they happen to be on the same continent. At the same time one can also retort; aren’t many of the chronic problems that ail the continent similar? Won’t we benefit if we just concentrate on those critical challenges that affect us all? In other words, aren’t the generic problems of the African nation states more pressing than their exaggerated claim of peculiarities?
We pose what we think is the paramount question that must be addressed by all Africans. Why do we Africans refuse to think about our own future realistically and honestly, on our own terms? We tend to endorse only the finished products or what are called ‘successes’ from abroad, while neglecting the plenty of failures that went into the making of these ‘successes’. We believe these experiences should inform our efforts to define and implement an urgently needed African civilization in its totality! The civilization we currently subscribe to and we might add blindly, (i.e., the modern world system) is ending, whether it will end in a bang or a whimper is besides the point. There are plenty of reasons why collapse is inevitable. For a start, humanity, or dominant interests to be more precise; are refusing to harmonize existing human civilization with the ways of Mother Nature.
In fact, no society remains static. For better or worse, all societies change, they evolve and ultimately decay. Unfortunately, the fixation of the top leadership of the world system doesn’t allow the consideration of concrete reality in their calculus. Talk about leadership! The consequences of such attitudes will become obvious as we enter the final phase of this self-inflicted mayhem, which is bound to upend many societies across the planet!
Concerned Africans must start asking the substantive, yet difficult questions. Given our continuous marginalization, how are we going to set up social organizations that might have a realistic chance of survival? The consumption model of society, as we currently observe it in the North, is neither fulfilling nor is it resilient, let alone sustainable. Blindly adhering to this model can only bring instability and ultimate disintegration. Signs are everywhere in today’s Africa, if one is honestly inclined to examine our concrete socio-economic reality without the bias of hyphenated learning! Why do we have an increasing number of African states failing? What are the root causes for such failures? Again, establishment wisdom doesn’t throw light on the fundamental problems we are stuck with, as doing so will reveal the hidden secrets that underlie our continuous disfranchisement. So long as Africa’s lopsided economic relation with the outside world is grounded on ‘unequal exchanges’, all efforts towards economic development (as we know it) will only come to a naught! The challenges going forward are numerous and quite formidable. They constitute, amongst other things, the need to revitalize our ecosystem. We need to move away from the merciless exploitation of nature. We need to reaffirm our traditional values that revere creation in all its diverse manifestations. We have to honestly acknowledge, based on facts on the ground, that the prevailing economic model that is in currency is untenable and very misleading. Failing to interrogate the shortcomings of the existing global order will only result in our speedy progress towards the precipice!
The ‘Africa Rising’ meme is a figment of the imagination of those who have no clue as to what is going on in the real world. Certainly, this group includes, besides the malicious ones, our own learned elites. Our elites are, at best, imitators and not creators. Regurgitating what has been inculcated in their minds by the global establishment is one of the main reasons why we cannot imagine our future without relying on the counsel of the institutions of the polarizing system. In a world where resources are diminishing, the biosphere is in trouble, etc., etc., our elites still want to adhere to the dominant economic narrative that preaches non-stop growth on a finite planet. This is suicidal! Expectedly, our elites do not have much to offer, except to keep on proposing what has been failing us for decades. Commodity production, mineral extraction, overpopulation, fragmentation, hyphenated/inorganic leadership, mismanaged urbanization, environmental degradation, etc., are all generic problems of the African continent. Unless we come up with something that is equitable and resilient, the existing model, which we are hooked on, will only deliver chaos and fragmentation; in other words, the proliferation of ‘failed and failing states’!
On top of these deep problems, Africa is saddled with corrupt and incompetent political leadership. It is almost always the criminal thugs that are systemically encouraged, by the global dominant interests, to take the reins of power. After all, it is these gullible crooks, who are more than willing to sell their countries for crumbs, while hiding their loot in the metropolis.

Nebil Ahmed

Name: Nebil Ahmed

Education: BA, Accounting

Company name: Hayloga Weddings & Events

Title: Founder & Manager

Founded in: September 2013 G.C

What it does: Full wedding service

HQ: Addis Ababa around Ras Desta Hospital

Number of employees: 2 full time & 24 contract staff

Startup Capital: 2,000 birr

Current capital: 1.2 million birr

Reasons for starting the business: To give all in one service

Biggest perk of ownership: Satisfaction

Biggest strength: Giving better quality service

Biggest challenging: Awareness within the society

Plan: To build the biggest wedding company in Ethiopia

First career: Accountant

Most interested in meeting: Bill Gates

Most admired person: Ermias Amelga

Stress reducer: Reading books, swimming

Favourite past time: Traveling

Favourite book: Oromay

Favourite destination: Axum

Favourite automobile: Ford GT

Hope for people co-infected with visceral leishmaniasis, HIV

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The World Health Organization (WHO) has released its guidelines for the treatment of people co-infected with visceral leishmaniasis and HIV, to recommend better treatments based on the results of two studies conducted by the Drugs for Neglected Diseases initiative (DNDi), Médecins Sans Frontières (MSF) and their partners in Ethiopia and India.
In Ethiopia, the new treatment strategy was shown to have an 88% efficacy rate at the end of therapy (after 58 days), whereas the efficacy of the current standard treatment was 55% in the trial. In India, the new treatment regimen was efficacious for 96% of cases after 210 days, while a lower rate of 88% was observed for cases receiving the standard treatment.
‘These are outstanding results, considering the difficulties to achieve treatment response in patients affected by both visceral leishmaniasis and HIV. The new WHO guidelines are a significant step that will greatly improve the lives of patients who are affected by both diseases and who are suffering from stigma, ostracization, loss of income, and repeated relapses,’ said Dr Fabiana Alves, Director of NTDs (Neglected Tropical Diseases) Leishmaniasis and Mycetoma at DNDi.
People living with HIV are 100 to 2,300 times more likely to develop visceral leishmaniasis, also known as kala-azar, a neglected tropical disease that is transmitted by the bite of a sandfly and causes fever, weight loss, and intense fatigue. It is often fatal if left untreated.
‘It is often hard to treat people living with these two diseases, because their weakened immune systems do not respond well to standard treatments. These patients have more frequent and more severe side effects from the treatment, higher risk of having another episode of visceral leishmaniasis in the future, and higher risk of death. The new treatment, now included in WHO guidelines, greatly increases their chance of being cured during a visceral leishmaniasis occurrence,’ said Dr Rezika Mohammed, Assistant Professor of Internal Medicine, University of Gondar, who was the Principal Investigator of the study in Ethiopia.
In Ethiopia, young seasonal migrant workers, who work in large farms and are exposed to sandflies bites, are some of the people most at risk of co-infection. Apart from the low efficacy of the standard treatments for this patient population, they also often relapse, stay in hospitals for long periods, lose their income, and fall deeper into poverty. They may also be ostracized by their co-workers and communities and sometimes even by their own family members.
In some districts of the Indian state of Bihar – India’s most endemic state – up to 20% of adults diagnosed with visceral leishmaniasis are co-infected with HIV. These co-infected patients serve as a reservoir for visceral leishmaniasis, which is hampering sustainable elimination efforts in the country.
The current standard treatment for visceral leishmaniasis/HIV co-infection consists of single injections of liposomal amphotericin B (LAmB). The new treatment course is a combination of the oral treatment miltefosine and LAmB; it was shown to have a significantly better efficacy rate in two clinical studies conducted in India by MSF and in Ethiopia by DNDi and supported by other partners.
‘For the first time, patients with visceral leishmaniasis/HIV co-infection will be treated with evidence-based treatment. This is an important step towards recognising these patients as highly vulnerable both from a clinical and social perspective; improving their management will benefit both patients and the visceral leishmaniasis elimination programme. However, there remains a lot to be done; these patients present with multiple complex medical issues that need to be addressed holistically, including a very high prevalence of TB,’ said Dr Sakib Burza, Medical Advisor and study coordinator at MSF.
India, Ethiopia, and other countries where both diseases are endemic are expected to adapt their own treatment guidelines in the future to include the new treatment recommended by the WHO.
‘This new treatment is excellent news, as it reduces the use of injectable drugs and significantly increases the chances for patients to be cured. It recommends intermittent administration over 14 days, which earlier was 38 days. We are proud of this achievement,’ said Dr Krishna Pandey, Director, Rajendra Memorial Research Institute and the Principal Investigator in the study.
Research to find an even better treatment will continue.
‘The new combination treatment still relies on miltefosine, an oral drug that can potentially affect the development of the embryo in pregnant women; and liposomal amphotericin B, a drug given as an infusion that can be delicate to administer and requires hospitalization and monitoring. Lengthy hospital stays or frequent ambulatory hospital visits can be challenging for some patients and may result in substantial loss of income for both patient and caregiver,’ said Dr Monique Wasunna, DNDi Eastern Africa Regional Director, in Nairobi, Kenya.
Patients with visceral leishmaniasis still need improved, safe, and efficacious treatments. That is why DNDi and its partners are continuing their efforts to develop a treatment that will be completely oral, safe, and efficacious – a drug that can be taken at the primary health care level, which will allow health workers to reach all people affected by visceral leishmaniasis.
The clinical trial in Ethiopia was financially supported by the European Union Seventh Framework Programme, the German Federal Ministry of Education and Research (BMBF) through KfW, the Dutch Ministry of Foreign Affairs (DGIS), the Spanish Agency for International Development Cooperation, UK Aid, the Swiss Agency for Development and Cooperation (SDC), MSF International, and the Medicor Foundation. The trial in India was funded by MSF Spain.