THE EtHIOPIAN AMERICAN is published by the Ethiopian American LLC 6394 Andrew Mathew Trc Springfield V A 22150 10 A Soaring Progress Under a Decade [email protected] www.theethiopianamerican.com EDITor-IN-ChiEF In this issue Omer Redi Cover Stories REPORTERS Genene Leul 20 What is in Stock at CBE for the Kirubel Tadesse Diaspora? Shimeles Meressa Tesfalem Waldyes ADVERTISING SALES Beleco Business PLC 22 The Diaspora Printer Made in Silicon Valley CONTRIBUTORS Andrew Laurence Biset Beyene Molla Dr. Desta Meghoo Sonia Plaza 24 AU’s Plan for Continent’s Yohannes Assefa Diaspora GRAPHICS DESIGN MODERNETH 06 Featured Stories 36 In Retrospect: History and Achievements of the Ethiopian 06 Penetrating African Markets: SUBSCRIPTION Diaspora Business Forum US - The Ethiopian American LLC 6394 The Ethiopian Way Andrew Mathew Trc 40 Ethiopia’s New Diaspora Bond: 10 A Soaring Progress Under a Springfield VA 22150 Will it be Successful this Time? Decade Tel. 202-527-0980 Cover Story ETHIOPIA -Belco Business Plc, the 27 Should Diaspora Lawyers be 38 Early Ethiopian Diasporas in the sole marketing agent of the Ethiopian Able to Practice Law in Ethiopia? U.S. American LLC in Ethiopia P.O.Bos. 4832 30 Business Franchising Under Art and Culture Ethiopian Law Tel. 0912-600-379 42 Cutting for Stone ADDIS ABABA, ETHIOPIA 33 Girma Wake: a ‘Crazy’ Story at 44 Overlooking African Treasure: info@theethiopianamerican Ethiopian Airlines www.theethiopianamerican.com The DIARTSPORA? WEB & APPLICATION DEVELOPEMENT THE ETHIOPIAN AMERICAN Publisher’s Note Ethiopia as the 2012 Pioneer Ethiopian Diaspora business community. We Diaspora Businesspersons of Year. feature these individuals to encourage An Awards Dinner will be held on the others to follow their footsteps and evening of July 14, 2012 at the Grand change the somewhat negative image Hyatt Washington. of Diaspora businessmen in Ethiopia. This year marks the 7th year since we The second edition of the print magazine Finally, as part of our mission, we embarked on the journey of organizing is now out (you are reading it). The engage our readers in analyzing current the Ethiopian Diaspora Business IT SUPPORT HOSTNIG SERVICES focus of this issue is on the Ethiopian issues of interest to our community. Forum, the oldest such forum for the Diaspora in Africa. As usual, we are also Articles on the Diaspora bond and African Diaspora. When we look back, profiling the life and work of prominent the recently drafted legal services we have had great moments and feel Ethiopian Diaspora businesspersons. law contrast the odd mix of policies proud about our achievements as an Individuals such as Girma Wake, that affect the Ethiopian Diaspora in organization and community. We hope former Ethiopian Airlines CEO, Tadiwos Ethiopia. We hope you find this issue to continue on this path as long as Belete, CEO of Boston Partners, informative. As usual, please let us there is a need for such an event in our Aman Adinew, former COO of ECX know if there is anything we can do to community. and Shakur Geresu, a former Silicon improve the magazine and our events. This is a special year: we are honoring Valley engineer currently running a first Tadiows G. Belete, CEO of Boston class printing press in Addis Ababa, Yohannes Assefa, Managing Director, The Partners, and Zemedeneh Negatu, exemplify the best of the Ethiopian Ethiopian American LLC Managing Partner of Ernst & Young Register Now YOUR TECHNOLOGY PARTNER For RSVP visit www.theethiopianamerican.com Accelerated worldwide technological change has become a fact and will continue to challenge industrial and societal or contact us at development into the next few decades. Our mission at ModernETH is to provide international leadership by promoting [email protected] the best practices in the creation, use, and management of technologies for effective management and growth. th ETHIOPIAN DIASPORA ModernETH's services offer the means to shorten the distance between our clients' ideas and their reality. Our personnel Forum: The George Washington University | The Jack Morton Auditorium BUSINESS FORUM have both individual talent and strategic alliances. Given their expertise, we deliver excellence. 7Connecting the Ethiopian Diaspora to the Ethiopian Economy 805 21st Street, NW | Washington, DC 20052 Awards Dinner: Grand Hyatt Washington 1000 H St. NW, Washington DC 20001 T I T L E S P O N S O R S July 14, 2012 MODERNETH VISIT US TODAY Edna Mall Building 4th Floor MODERNETH Lucky Building 3rd Floor T +251 116 61 69 15/16 [email protected] 4 www.theethiopianamerican.com S E R V I C E S P . L . C www.ModernETH.com THE ETHIOPIAN AMERICAN Eclipse Printing Design Digital Printing Offset & Graphic Design Binding Atalanta Guest House is one of Ethiopian-owned businesses in Kampala/Photo By Tesfalem Waldyes from Ideation to Fruition Smart Printing Penetrating African Markets: The Ethiopian Way By Tesfalem Waldyes Eclipse Printing and Graphic Design is a complete inhouse design and printing solutions firm located in Addis Abeba. Ethiopian Traditional eateries and prominence. however, raise the estimate as high Our facility houses an eclectic array of professionals shops retailing spices and Enjera as 6,000, and say it is growing fast by Ethiopian restaurants got popularity Solutions dedicated to ensuring the best production quality from start have mushroomed, over the past few in South Sudan even before the birth the day. Ethiopian government’s open to finish. decades, from the US and Europe to of the nation. The first Ethiopian policy of encouraging its citizens to almost every East African capital. restaurant opened in the capital Juba, benefit from the untapped investment While our best asset is our people, Eclipse is also a company Unlike their counterparts in the US and soon after North and South Sudanese potential and the host country’s appetite committed to technology. Eclipse has implemented several Europe, Ethiopians in Africa seem to forces signed the Comprehensive for skilled manpower and foreign best-of-breed solutions in order to provide more efficient, have succeeded in penetrating other Peace Agreement that ended their investment in almost every sector, are higher quality results. business areas including construction, two decades long civil war in 2005. the prime driving factors, according to aviation and retail businesses. From Over the following years, thousands of these observers. Hence, just the size of We realize that ideation and implementation isn‘t easy, but it Ethiopians in South Sudan is a market neighbouring South Sudan and Kenya Ethiopians entered South Sudan either doesn‘t have to be hard on you. That‘s the premise, and the in its own mainly for those in the food, to Uganda and Tanzania, and to South as employed workers or as small and promise - to give you the highest quality printing, the highest beverage and hospitality industry. Africa and Nigeria, Ethiopian individuals big business owners. quality service, competitive pricing, and nothing but the best. and businesses have grown prominent The Rise of the Ethiopian Diaspora in Queen of Sheba Restaurant and Bar recently. Africa is the first Ethiopian-owned restaurant to open in Juba. Following its suit, The newest nation on earth, South The Ethiopian Embassy in Juba says around 15 Ethiopian restaurants are Sudan, is the best example, arguably there are about 4,000 Ethiopians Tel: +251-11-553 81 11 /552 10 93 now operating in that capital – a accounting for the largest share of this residing in that country. Observers, Fax: +251-11 552 09 18 P.O.Box: 1296 Addis Ababa,Ethiopia 6 www.theethiopianamerican.com E-mail: [email protected] THE ETHIOPIAN AMERICAN THE ETHIOPIAN AMERICAN fledging city with an estimated 250,000 Alemayehu Ketema – owner of another the new entrants are Yemiru Nega of Juba, and its plan for two more in Wau running beach front hotels in Mombasa. 2011 from the Ethiopian Airlines, the population. Though still far behind construction company named after him Demebl City Center and YENCOMAD and Rumbek towns, capitals of Western In Uganda few Ethiopians entered the most celebrated CEO of the national and smaller than the size of investors and based in Addis Ababa – is one of Construction, Gebreyesus Igata of Gift Bahr el Ghazal and Lakes State, lodge management business and have carrier – Girma Wake – now chairs from other neighbouring countries, the such. One of the three shareholders of Real Estate, and Badeg Bekele (Prof) respectively, within six months could eventually dominated the sector. They Rwanda Airs’ board of directors. number of Ethiopians who own and Country Club Developers, an elite real of the International Leadership Institute only signal that the best is yet to come. either rent or take over the management On the other coast of the continent, run small lodges and medium size estate company in Addis, Alemayehu have all leased huge plots of land to It has already constructed a building of medium size guest houses, lodges another veteran in the aviation industry, hotels is growing fast. Olympic Hotel, has back home built major roads construct commercial complexes, for its Malakal branch and took thirteen and hotels that have been struggling Kinfe Kahssay, is the Chief Executive a 19 rooms hotel owned by a trio of including part of the 300 million Birr hotels and real estate development. bankers from Ethiopia. for market, and turn them into profitable Officer of Air Nigeria Development Ethiopians, and Habesha Continental, worth Shashemene–Doddola corridor. Apart from the private sector, state- Reports of CBE’s moves seem to have businesses within few months. Two Limited under management cooperation a hotel with 14 rooms but with a large In South Sudan, Double Alpha has owned companies from Ethiopia are also lured private banks in Addis to the new Ethiopian brothers, Fasil and Wubeshet arrangements with the Ethiopian landholding for future expansion, , are won a bid to build part of the 400 active in few selected areas.