Africa is being exploited by foreign multinational companies in the name of attracting foreign direct investment, which in reality if foreign direct exploitation, says Esther Muchiri, Legal Consultant and Lecturer at Norman Otieno & Co. Advocates in Kenya.
Chief Macroeconomist at the UN Economic Commission for Africa (UNECA), Adam Elhiraika, who is co-author of the 2019 Economic Report on Africa, advices African countries to abandon tax holidays for investors.
As part of investment incentive, the Ethiopian Ministry of Revenue has provided duty free import privilege of 65 billion birr (around $2.4 billion at the prevailing exchange rate) in the past six months.
By Andualem Sisay Gessesse – while the value of Ethiopian government’s incentives for investors have been increasing over the past years, on the contrary the export performance of the country has been declining, report shows.
In Summary – In 2007 Ethiopia introduced biofuel development strategy. Not long after, the non-oil producing country began promoting the availability of close to 24 million of hectares of land for global investors who are interested to plant castor beans and jantropha and produce biofuel.
![The fruits of doggy investments in Ethiopia for decades [OPINION]](https://newbusinessethiopia.com/wp-content/uploads/2018/05/FlowerinEthiopia-e1552571530141.jpg)
By Hawa Mohammed – I rarely watch the state television in Ethiopia for the reasons I can’t tell you now. But in the past few years I often flip to the channel to understand the government version and interpretations of the current political and economic crisis in the country. Anyways aContinue Reading
By Andualem Sisay Gessesse – The Ethiopian government vows to force tax incentive beneficiary manufacturing companies return the tax incentives they enjoyed by promising the country to bring hard currency to the country through product export.
