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July 2016 ISSUE N° 432 WWW.ICPUBLICATIONS.COM CONTENTS UNITED KINGDOM IC PUBLICATIONS 7 Coldbath Square London EC1R 4LQ Tel: +44 20 7841 3210 Fax: +44 20 7713 7898 icpubs@icpublications.com africanbusinessmagazine.com FRANCE IC PUBLICATIONS 609 Bat A 77 rue Bayen 75017 PARIS Tel: +33 1 44 30 81 00 Fax: +33 1 44 30 81 11 info@icpublications.com www.icpublications.com FOUNDER Afif Ben Yedder EDITOR EMERITUS Anver Versi EDITOR Lanre Akinola l.akinola@icpublications.com DEPUTY EDITOR Kanika Saigal k.saigal@icpublications.com DIGITAL EDITOR David Thomas d.thomas@icpublications.com ART DIRECTOR Jason Venkatasamy jason@icpublications.com STRATEGIC DIRECTOR Christian Udechukwu ASSOCIATE EDITORS Tom Nev i n Gerard Choisnet Ridha Kefi Hichem Ben Yaïche Neil Ford CORRESPONDENT-AT-LARGE Stephen Williams CONTRIBUTORS Harriet Constable James Jeffrey Chijioke Mama Neil Ford Fi nba r r Toesla nd James Jeffrey Chris McKeon John Howell SUBSCRIPTIONS Abacus e-Media Chancery Exchange 10 Furnival Street London EC4A 1YH Telephone: +44 20 8950 9117 Fax: +44 20 8421 8244 icpubsorders @abacusemedia.com icpublications @abacusemedia.com www.africanbusinessmagazine. com/main-articles/subs GROUP PUBLISHER Omar Ben Yedder GENERAL MANAGER Leila Ben Hassen l.benhassen@icpublications.com VP DEVELOPMENT Saliba Manneh s.manneh@icpublications.com SENIOR PROJECT MANAGER Darren Moore d.moore@icpublications.com ADVERTISING SALES DIRECTORS Medrine Chitty James Olweny Nick Rosefield ADVERTISING advertising@icpublications.com MARKETING DIRECTOR Sinem Bilen-Onabanjo sinem@icpublications.com DISTRIBUTION distribution@icpublications.com PRODUCTION MANAGER Richard Briggs GHANA – DISTRIBUTION Nana Asiamah Bekoe Tel: +233 21 258058 kwabusek@gmail.com GHANA – SPECIAL PROJECTS AND ADVERTISING Silvia Salvetti Ollennu Tel: +233 24 910 5995 top@topreports.org NORTH AFRICA Néjib Ben Yedder n.benyedder @icpublications.com IC EVENTS info@ic-events.net Printers Headley Brothers Ltd The Invicta Press Queens Road, Ashford Kent, TN24 8HH All pictures AFP unless indicated. Registered with the British Library. ISSN 0142-9345 ©2016 IC Publications Ltd N° DE COMMISSION PARITAIRE 0320 K 89343 Mensuel: Juillet 2016 Dépôt légal 16 COVER STORY Ethiopia carves its own path to prosperity COVER ETHIOPIA: AFRICA’S CHINA 16 Ethiopia forges its own path 20 Infographic 22 Ethiopia’s regional role 27 SPECIAL REPORT: PORTS AND LOGISTICS 28 Getting African trade moving 30 Interview: Tarek Sultan, CEO and Vice Chairman, Agility 32 Competition in the Gulf of Guinea 36 INTERVIEW: Ben Ngubane, Chairman, Eskom 38 FEATURE: Aid conditionality in Tanzania 41 SPECIAL REPORT: JAPAN–AFRICA 42 The role of soft power 44 Leveraging aid 46 FEATURE: Nutrition through biofortification 48 INTERVIEW: Nick Hurd, DfID 50 FEATURE: Business during Ramadan 53 SPECIAL REPORT: AVIATION 54 Fragmented skies hamper sector growth 58 Airlines and the hospitality industry must work together 60 The challenge of building African champions 64 FEATURE: Reforming Nigeria’s refineries 66 INTERVIEW: Uzoma Dozie, CEO, Diamond Bank FEATURES: 69 Kickstarting Kenyan manufacturing 72 An African passport? 76 The debt time bomb 78 Cocoa: moving up the value chain 80 Côte d’Ivoire’s chocolate factory 82 Mobile gambling takes off in Kenya COUNTRYFILES: 84 Tomato famine in Nigeria 86 Kenya’s “Out of Africa” effect 90 Endnote: The rich have never had it so good

July 2016 ISSUE N° 432 WWW.ICPUBLICATIONS.COM CONTENTS

UNITED KINGDOM IC PUBLICATIONS 7 Coldbath Square London EC1R 4LQ Tel: +44 20 7841 3210 Fax: +44 20 7713 7898 icpubs@icpublications.com africanbusinessmagazine.com

FRANCE IC PUBLICATIONS 609 Bat A 77 rue Bayen 75017 PARIS Tel: +33 1 44 30 81 00 Fax: +33 1 44 30 81 11 info@icpublications.com www.icpublications.com

FOUNDER Afif Ben Yedder EDITOR EMERITUS Anver Versi EDITOR Lanre Akinola l.akinola@icpublications.com DEPUTY EDITOR Kanika Saigal k.saigal@icpublications.com DIGITAL EDITOR David Thomas d.thomas@icpublications.com ART DIRECTOR Jason Venkatasamy jason@icpublications.com STRATEGIC DIRECTOR Christian Udechukwu

ASSOCIATE EDITORS Tom Nev i n Gerard Choisnet Ridha Kefi Hichem Ben Yaïche Neil Ford CORRESPONDENT-AT-LARGE Stephen Williams CONTRIBUTORS Harriet Constable James Jeffrey Chijioke Mama Neil Ford Fi nba r r Toesla nd James Jeffrey Chris McKeon John Howell SUBSCRIPTIONS Abacus e-Media Chancery Exchange 10 Furnival Street London EC4A 1YH Telephone: +44 20 8950 9117 Fax: +44 20 8421 8244 icpubsorders @abacusemedia.com icpublications @abacusemedia.com www.africanbusinessmagazine. com/main-articles/subs

GROUP PUBLISHER Omar Ben Yedder GENERAL MANAGER Leila Ben Hassen l.benhassen@icpublications.com VP DEVELOPMENT Saliba Manneh s.manneh@icpublications.com SENIOR PROJECT MANAGER Darren Moore d.moore@icpublications.com ADVERTISING SALES DIRECTORS Medrine Chitty James Olweny Nick Rosefield ADVERTISING advertising@icpublications.com MARKETING DIRECTOR Sinem Bilen-Onabanjo sinem@icpublications.com DISTRIBUTION distribution@icpublications.com PRODUCTION MANAGER Richard Briggs GHANA – DISTRIBUTION Nana Asiamah Bekoe Tel: +233 21 258058 kwabusek@gmail.com GHANA – SPECIAL PROJECTS AND ADVERTISING Silvia Salvetti Ollennu Tel: +233 24 910 5995 top@topreports.org NORTH AFRICA Néjib Ben Yedder n.benyedder @icpublications.com IC EVENTS info@ic-events.net Printers Headley Brothers Ltd The Invicta Press Queens Road, Ashford Kent, TN24 8HH All pictures AFP unless indicated. Registered with the British Library. ISSN 0142-9345 ©2016 IC Publications Ltd N° DE COMMISSION PARITAIRE 0320 K 89343 Mensuel: Juillet 2016 Dépôt légal

16 COVER STORY Ethiopia carves its own path to prosperity

COVER ETHIOPIA: AFRICA’S CHINA

16 Ethiopia forges its own path 20 Infographic 22 Ethiopia’s regional role

27 SPECIAL REPORT: PORTS AND LOGISTICS 28 Getting African trade moving 30 Interview: Tarek Sultan, CEO and Vice Chairman, Agility 32 Competition in the Gulf of Guinea

36 INTERVIEW: Ben Ngubane, Chairman, Eskom

38 FEATURE: Aid conditionality in Tanzania

41 SPECIAL REPORT: JAPAN–AFRICA 42 The role of soft power 44 Leveraging aid

46 FEATURE: Nutrition through biofortification

48 INTERVIEW: Nick Hurd, DfID

50 FEATURE: Business during Ramadan

53 SPECIAL REPORT: AVIATION 54 Fragmented skies hamper sector growth 58 Airlines and the hospitality industry must work together 60 The challenge of building African champions

64 FEATURE: Reforming Nigeria’s refineries

66 INTERVIEW: Uzoma Dozie, CEO, Diamond Bank FEATURES: 69 Kickstarting Kenyan manufacturing 72 An African passport? 76 The debt time bomb 78 Cocoa: moving up the value chain 80 Côte d’Ivoire’s chocolate factory 82 Mobile gambling takes off in Kenya COUNTRYFILES: 84 Tomato famine in Nigeria 86 Kenya’s “Out of Africa” effect

90 Endnote: The rich have never had it so good

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