September 3, 2006
Misused banknotes, clean-but-not-clean restrooms and toilet wars
Here are some highlights from today's ever-expanding Fortune newspaper.
The National Bank of Ethiopia can't burn old and "misused" bank notes fast enough. (How do you misuse a bank note?) Notebooks out bank robbers:
The vaults of the National Bank of Ethiopia (NBE) are facing a serious overcrowding with the arrival of newly printed Birr notes, supplied by the French company, Francois Charles Oberthur Fiduciaire (FCOF). The old and new headquarters of the central bank, located on Sudan Street, have full vaults, in the basements of the two buildings, because the old Birr notes have been sitting there since they were taken out of circulation. Adjacent to the two buildings, sharing a wall with Artistic Printers, the Bank has storage spaces which are also full.
The excellent but expensive Sangan Indian Restaurant only gets two stars for its 'sanitation' in the paper's weekly review:
Going to the restrooms at Sangam is both an interesting and unpleasant experience. Interesting for the number of sinks, and unpleasant for the general cleanliness. The toilet although not dirty as such, nevertheless gives off an odour of detergent and unaired restroom. Toilet paper is provided, as is liquid soap and one clean-looking towel. According to one of our reviewers, the restroom needed renovation and attention. He mentioned that although the restroom was not dirty per se, it still did not look clean.
An ongoing 'toilet war' between neighbouring developers on Bole Road is affecting business at United Bank:
Two prominent real-estate developers in Addis Abeba have found themselves locked in a vicious dispute over what an observer described as "the toilet war". The right to use sewage lines for two adjacent buildings on Africa Avenue (Bole Road) has caused yet another round of sharp controversy between businessmen Salahadin and Abdulhamid Abubaker, owners of Garad Plc and Getu Gelete, owner of Get As International Plc...None of the tenants of [Getu's] building have access to toilet facilities or running water in their bathrooms. "Our staffs have to walk a distance just to be able to use the toilet," said one of the 30 employees assigned in the United Bank's branch there...One of the senior managers attributed the slump in productivity to this fact.
Columnist Lulit Amdemariam has some great news from the rental sector:
The boom in the construction sector, particularly seen in housing development, has led to somewhat of a decline in the cost of rentals.
So she decided to go on a house-hunting tour outside the city centre:
There were French windows on one side that led to a balcony, which had a glass and aluminium shade, covered in the same dark brown that was on all the windows in the house. To put it mildly, it looked like the inside of a 90s Land Cruiser that was driven in from Djibouti.
Yours for 7,500 Birr a month.
Posted by aheavens at September 3, 2006 9:54 AM
Comments
Hi Andrew! Thanx for an excellent blog (you´ve had a very productive morning). Who can afford 7 500 birr a month for an apartment? That is what we pay in Stockholm for 70 square meters. What is the usual cost of housing in Addis? I suppose the span is enormous.
Tore Kleist, Stockholm, Sweden
Posted by: Tore Kleist at September 3, 2006 4:42 PM
Actually 7,500 isn't too bad, Tore. As the property sounds like it is out of town, you could probably get 1,00 knocked off.
Two factors keep the price of decent housing relatively high in Addis. First there is the limited supply - although that seems to be changing with the construction boom. Second there is the fact that most foreigners employed by the UN and embassies either get given houses or have a housing allowance. They don't bother to negotiate too hard so landlords assume most foreigners are willing and able to pay rents of 15,000 and more.
Posted by: andrew at September 4, 2006 5:22 AM
The third factor will be the diaspora that seems to be purchasing house or land for an unreasonable price.
An observer
Posted by: An observer at September 4, 2006 3:23 PM
7500 birr is not too bad? I would like to know what the median income is b4 I make such an assessment.
In the US midwest I make a mortgage payment of 7500 birr. The US standard of living is a far cry from Ethiopia's, therefore, it is unconcionable to consider this amount not too bad. It ain't too bad if it does not come out of your pocket. I just hope this amount is not included in the foreign aid to Ethiopia category. What a sham!!
Posted by: cal at September 5, 2006 2:12 PM