Thursday, April 21, 2011

Renting a read from 'newspaper landlords'

A newspaper in Addis Ababa costs about six birr (35 U.S. cents) to buy. In contrast, it costs only 50 Ethiopian cents (less than one U.S. cent) to rent one. "If 20 readers read this single paper at the rate of 50 cents, I will make 10 birr (about 60 U.S. cents)," says Tesfaye, whose business serves a regular customer base that visits his makeshift roadside shop each day. "Most of the readers focus on vacancies rather than regular news," Tesfaye says. Among his customers are unemployed university graduates who tend to rent several publications a day as they desperately hunt for work. Read more...

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