{UAH} Ethiopia's 3000 millionaires.....

French TV has just given a news coverage on these famous new rich Ethiopians

who now number slightly more than 3000 and each one of them having assets topping a million USD minimum.

Of course very many of them are in the double or triple digit bracket!

With an annual growth standing at 10% for several consecutive years

and with projects in agriculture, infrastructure, etc.. succeeding so astonishingly,

Ethiopia is now becoming the China of Africa with its economy succeeding to create

annually thousands of  upper middle class citizens whose presence on the market

has boosted the creation of a smart housing estate business with thousands of posh buildings, within the price range of 150000 USD to 250000 USD, constructed every year. TV has shown some of these homes, and they are really palatial homes!

And one of these smart edifices belongs to a new millionaire who for decades had been a poor tailor! He even showed his 30-year-old sewing machine which threw him to greatness with the little coins regularly saved from his labour being invested in tissue designing, shoe-making, etc... He now owns a real commercial empire that employs hundreds of fellow citizens!

I last saw Ethiopia two years ago on a number of consecutive occasions. I was impressed by the airport, a very large modern one with many planes landing in and taking off regularly ; the fabulous expansion of the city with new buildings settling in almost far and far beyond horizon; the excellent cool temperatures during daytime, although at night one has got to be ready to confront the freezing 4°C in particular in Addis Ababa! On one occasion I was to familiar, with difficulty, with the 5°C at the hotel when for the past five days I'd been wiping the sweat off my brow in Djibouti where at that time the nights could record an average 26°C versus an average 38°C for the daytime temperature. You could all the time feel as if you were in an oven!  Uganda, a moderately cold country, doesn't carry to such extremes.

The only challenge we now have is to shoot to middle income status and overtake any neighbouring nation in that regard!

G.H.K.

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