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Exploring Opportunities in Ethiopia's Untapped Healthcare Industry the Ethiopian American The Ethiopian American THE ETHIOPIAN AMERICAN www.theethiopianamerican.com volume 5 no.5 Aug 2015 ETHIOPIAN 10th DIASPORA BUSINESS FORUM Exploring opportunities in Ethiopia’s untapped healthcare industry Trailblazing 250 diaspora doctors on a mission to build $100 million hospital in Addis Healing hands Dr. Akeza builds what young Akeza dreamt 1P FAIRFAX.indd 1 05/04/12 11:24 THE ETHIOPIAN AMERICAN www.theethiopianamerican.com IN THIS ISSUE... COVER STORY FEATURED STORIES 06 16 Trailblazing 250 diaspora doctors on a The success story of Ethiopia’s primary mission to build $100 million hospital in health care services Addis 20 10 Long wait for Ethiopia’s universal health Healing hands insurance may end soon 12 24 Dr. Akeza builds what young Akeza Two way street in food, beverage dreamt business involving diaspora INVESTING 27 Ethiopia’s tough journey towards 38 pharmaceuticals industry Investing in Ethiopia: a guide to the diaspora 30 Ethiopia, US pay tribute to the ART Brown Condor 45 32 ZAAF: Made in Ethiopia Ethiopia pleas for private investment to arrest growing medical tourists 35 Ten years of progress: history, purpose and achievements of Ethiopian diaspora business forum 1P FAIRFAX.indd 1 05/04/12 11:24 years, the establishment of chapters across the US and the world to expand the work we started so humbly a decade ago. This year’s Forum will “explore opportunities in Ethiopia’s untapped healthcare industry”. As Dr. Akeza Teame, one of the true leaders in the Diaspora healthcare investments in Ethiopia noted, one cannot build a healthy economy without a healthy workforce. Therefore, investments in healthcare are not just lucrative but also necessary for a fast growing economy. Publisher’s Note In this year’s Forum, we will cover every angle Every year, I look forward to the annual of the opportunities and challenges involved gathering and celebration of Diaspora in investing in Ethiopia’s untapped healthcare entrepreneurship at the Ethiopian Diaspora industry. We will explore the range of Business Forum (Forum). This year is a special regulatory and policy challenges as well as the year for me and my colleagues at the Form. It sweet spots in investment opportunity. is the 10th year anniversary of the Forum, a The special anniversary issue of The Ethiopian real milestone for any organization, let alone American also covers a wide ranging topics one that is run by volunteers. What makes this and developments in the healthcare sector. year’s special is also that we will be holding the Omer Redi, our editor-in-chief, writes about annual Pioneer Ethiopian Diaspora Business the amazing and brave band of 250 Ethiopian THE ETHIOPIAN AMERICAN Person of the Year Awards Dinner at the Diaspora doctors who are in the process www.theethiopianamerican.com Sheraton Addis in Addis Ababa. The Awards of building a $100 Million state of the art Dinner will coincide with the five-day first THE ETHIOPIAN AMERICAN is published hospital while Rehima Awol highlights the by the Ethiopian American LLC ever Diaspora Week celebration where various extraordinary work of Dr. Selam. Andualem 6394 Andrew Mathew Trc Diaspora organizations will be descending on Springfield V A 22150 Sisay reports on the remarkable journey of Dr. Addis for the festivities. So, we will celebrate [email protected] Akeza and Ethiopia’s success in establishing www.theethiopianamerican.com our 10th year anniversary in stile on two primary healthcare system, as well as the continents. EDITOR-IN-CHIEF pharmaceuticals industry in Ethiopia, while Omer Redi Ten years is a long time and much has Elias Gebreselassie writes about Ethiopia’s happened since our humble beginning. universal health insurance scheme. Finally, REPORTERS Indeed, through hard work and perseverance, attorney Biset Beyene enlightens us with a Andualem Sisay Binyam Tamene the Forum has become the most important details of Ethiopia’s investment protocol and Elias Gebreselassie Ethiopian Diaspora gathering devoted to process. I hope you will enjoy this year’s The Rehima Awol business and investment. The Forum has Ethiopian American magazine as much as I CONTRIBUTORS become a place for deal making, for networking have enjoyed it. Andrew Laurence and serious policy engagements for serious Biset Beyene Finally, I want to thank Zemedeneh Negatu Matt Andrea (Photography) businessmen and women both here in the of E&Y, Manny Amare of Altour Tech, Yusuf Diaspora and Ethiopia. Hundreds have found Reja of Info Mind Solutions, Henok Assefa of GRAPHIC DESIGN & jobs, made deals to start their dream business Precise Consult, Addis Alemayehou of 251 CONTENT DEVELOPMENT and some even have met their soulmates at the Ifriqiyah Media & Communications Communications, Jeff Hoffman of Danya Forum. With each year, we have seen also a www.ifriqiyahmedia.com Corp, Commercial Bank of Ethiopia, Ethiopian remarkable growth in the number and quality of Airlines, eClipse Printing Press, for their ADVERTISING SALES professionals who participate in these events. Belco Business PLC personal and financial support of the Forum By our estimate, over 10,000 businesspersons over the past 10 years. and professionals have participated in our SUBSCRIPTION US - The Ethiopian American LLC 6394 programs over the past 10 years. As part of our In sum, it’s been a wild and fun ride over the Andrew Mathew Trc 10th year anniversary, we are holding regional past 10 years. I thank you for your support Springfield VA 22150 Tel. +1 202-527-0980 gatherings and consultations across the US and over the past 10 years and look forward to ETHIOPIA -Belco Business Plc, Ethiopia to further broaden our reach. We held working with you in coming 10 years. the sole marketing agent of the Ethiopian American LLC in Ethiopia our first event in November 2014 in New York P.O.Bos. 4832 Yohannes Assefa, Esq., and a similar event is planned for Los Angeles Tel. +251 912-600-379 Publisher & Executive Director in September. We hope to see, in the next ten ADDIS ABABA, ETHIOPIA ኢክሊፕስ ማተሚያ ቤት CLIPSE PRINTING PRESS Tel: +251 11 557 2222 +251 11 557 2223 Fax: +251 11 557 2224 E-mail: [email protected] THE ETHIOPIAN AMERICAN EADG hopes to complete and open this center of excellence by December 2018 COVER STORY Trailblazing 250 diaspora doctors on a mission to build $100 million hospital in Addis By Omer Redi To maintain clinical distance, avoiding experts suggest, is centered on the envisioned and subsequently put on bad news to affect them or getting in short-term nature of such missions, paper. A month later, a corporation the way of doing their jobs, doctors which can lead to inappropriate and named Ethio-American Doctors seem unemotional in caring for their unsustainable treatments. Group, Inc. (EADG) was established in patients. Medical missions, however, North Carolina and the group began Such was the main reason, coupled by their very nature grow from an recruiting other physicians to join with the emotional ties to the country emotional tugging doctors feel to with the vision to establish a state- of their birth, for nine Ethiopian- alleviate pain and suffering. of-the-art hospital in Ethiopia. As born physicians to come up with a their idea further developed, it was Medical missions have grown grand vision to impact the industry evident that they needed to rely dramatically in recent years in in Ethiopia, and impact it in a on permanent medical staff for the response to increased global transformative way. hospital, according to Tesfaye Fanta, communication, travel, and awareness They first met in Dallas, Texas, in April MD, President of EADG. During their of inadequate healthcare services in 2011. They quickly drafted a basic maiden annual meeting in September impoverished countries. But this is business plan with the idea that they 2011, their number had grown to 35 not all perfect and the best way out, will travel to Ethiopia on a rotational physicians. according to industry experts. The basis to staff a hospital they have main criticism regarding this, these The group now stands at 250 6 www.theethiopianamerican.com physicians of Ethiopian origin from will be completed by June 2016 and develop the hospital. For example, THE ETHIOPIAN AMERICAN across the globe. According to the groundbreaking is scheduled for GE Healthcare has worked with group’s own survey, 75 per cent of September 2016. Hence, the hospital EADG from the start and is now a these physicians either attended will be commissioned in December Strategic Technology Solutions Partner medical school in Ethiopia or, after 2018. bringing with it essential hospital completing their medical education project development knowledge EADG management and board will be abroad, worked in Ethiopia for and expertise. According to Melaku, busy for the next 12 months mainly a number of years as practicing forming such relationships are critical working to raise the required capital physicians. in an emerging country environment to complete financing for the project, where lack of adequate information, “This demonstrates that these retain a construction company that will infrastructure and range of vendors in physicians have view of the challenges become part of the EADG team, and different disciplines is prevalent. and opportunities that lies ahead for work with the Ethiopian government this ambitious and historic project,” to overcome regulatory hurdles, Another key relationship to form says Melaku Negussie, Chief Operating including importing goods and services was with an architectural and Officer and General Counsel of EADG. for the construction and development engineering team. Because the of the hospital. They will also have hospital will seek Joint Commission The hospital to work on creating the processes to International (JCI) accreditation, EDAG The hospital whose construction is streamline customs and duties related says it is imperative for experienced scheduled to start in a year will be a to pharmaceuticals and supplies.
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