Chinese entrepreneur tries to bring Shenzhen miracle to Africa

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Qeerroo Tube

(September 18, 2018)  – Hundreds of Chinese companies have flocked to Ethiopia, helping it become Africa’s fastest-growing economy for most of the past decade.

Ethiopia absorbed almost half of the $7.6 billion in foreign investment in East Africa last year, according to the UN Conference on Trade and Development’s World Investment Report.

Helen Hai, is one of investors who owns a pioneering shoe factory in Ethiopia, began setting up the Made in Africa Initiative.

Hai, co-founded factories making children’s clothes in Rwanda, Senegal and Ethiopia, and she became the UN Industrial Development Organization’s goodwill ambassador in Africa.

“There’s a golden opportunity for Africa,” Hai said. “What it needs now is success stories. They have a snowballing effect.”

Ethiopia’s role in Africa is similar to one Japan played in Asia in the 1960s, showing how business-friendly policies and successful factories can trigger industrial progress she added.

The Made in Africa Initiative now has 15 staff members in nine African nations, Beijing and Hong Kong.

Source: www.bloomberg.com

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