Mumbai, India-based decorative and industrial paint manufacturer Asian Paints (International) Ltd picked up a 51% stake in Ethiopia-based paint maker Kadisco Chemical Industry PLC for an undisclosed amount.
Ethiopia
Ethiopia to Block Imports of Gas-Powered Cars With Electric Vehicle Transition but Stalls Due to Infrastructure Issues
Ethiopia's switch to electric vehicles faces major infrastructure issues, pushing many to reconsider their choices.
African Dignitaries Join Investment Forum, Aims to Establish a Free Trade Zone
Heads and ministers of some African countries, representatives from business groups and other dignitaries will meet in Africa 2016. Egyptian government has organized the summit scheduled to be held on February 20-21. During the summit, the participant leaders will discuss ways to remove hurdles in Businesses and establishing a free trade zone in Africa.
African coffee producers suffer from low prices
The increasing output in Brazil and falling prices are posing a major challenge to African coffee producers. Coffee exports revenues are a major source of income for several African nations. The coffee production in Brazil is forecast to reach 52 million of bags in 2016 from 43.2 million bags in 2015.
Public spending propels Africa's fastest growing economy Ethiopia
The east African nation Ethiopia is poised to grow at 8.1 percent in 2016 from 8.7 percent growth in 2015. This makes Ethiopia a fastest growing nation in the world. The government spending on infrastructure projects is mainly driving the economy growth.
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US-based boutique advisor and venture capital firm The Africa Group (TAG) picked up a 25% stake in Ethiopia-based health systems engineering services provider Telemed Medical Services (Telemed) for an undisclosed amount to help more people gain access to health resources.
The Ethiopian government's program to lease farmland to private investors to grow food has experienced several setbacks, a report from Bloomberg said. The program was started in 2008.
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