Thursday 29 June 2017
(APA 06/27/17)
The Ethiopia-Djibouti cross-border potable water project will be finalized in three months, an official said on Tuesday. The project, which could supply safe drinking water for more than 700,000 Djibouti nationals, was tested three weeks ago and proved successful, Demelash Mulu, manager of the project told reporters in Addis Ababa. The construction of the project was launched in July 2015, at a cost of $329 million being a loan secured by the government of Djibouti from the Export-Import Bank of China. The project is being executed by a Chinese construction company, CGC Overseas Construction Co. Ltd (CGCOC), and entails the construction ...
(Xinhuanet 06/27/17)
The Ethiopia-Djibouti cross border potable water project will be finalized and commence operation in about three months, according to Demelash Mulu, project manager. The water project funded by the Export-Import Bank of China is under construction by the Chinese company CGCOC. The project, which is expected to provide safe drinking water for more than 700,000 Djibouti nationals, was tested three weeks ago and proved successful, Ethiopian local media FBC quoted Demelash Mulu, manager of the project, as saying on Tuesday. The Ethiopia-Djibouti water project, dubbed as one of the largest water projects in Africa, was launched in 2015 in a bid to solve the drinking water problem in Djibouti as well as to deepen ties between the two neighboring countries...
(Bloomberg 06/23/17)
Dangote Cement Plc, controlled by Africa’s richest man, Aliko Dangote, said it may shut its operations in Ethiopia if authorities in the central state of Oromia don’t reverse an order to cement makers to hand over control of some parts of their businesses to local young people. Oromia state’s East Shewa Zone administration wants the Nigerian company to outsource its pumice, sand and clay mines to youth groups or be responsible for “any problems” that may arise, according to a...
(AFP (eng) 06/20/17)
La compagnie Ethiopian Airlines a commandé 10 gros porteurs A350-900 pour un prix catalogue de 3,11 milliards de dollars, a annoncé mardi Airbus au salon de l'aéronautique du Bourget, près de Paris. La compagnie, qui a été la première sur le continent africain à mettre en service l'A350 en juin 2016, a déjà commandé 12 exemplaires de cet appareil conçu pour les vols long-courriers et en exploite quatre actuellement, selon le constructeur européen. Cette commande fait partie de la "stratégie...
(AFP (eng) 06/12/17)
German Chancellor Angela Merkel will on Monday meet African leaders in Berlin on initiatives aiming to reduce the poverty and conflict driving a mass migrant influx to Europe. The idea is to team up African nations willing to reform with private investors who would bring business and jobs to a continent where instability or graft often scare off foreign companies. Merkel is hosting the initiative as part of Germany's presidency of the Group of 20 powerful economies, whose leaders meet in the northern port of Hamburg a month later. Invited to Berlin are Egyptian President Abdel Fattah al-Sisi and the leaders of Ghana, Ivory Coast...
(The Ethiopian Herald 06/07/17)
The Ethiopian Meat and Dairy Industry Development Institute (EM- DIDI) said it has been working to secure over 12 million USD from meat exports to United Arab Emirates (UAE) and Saudi Arabia during this Islamic fasting month of Ramadan. Cognizant the demand for meat has shown a significant increase during Ramadan, the institute is striving to secure additional foreign currency by increasing volume of exports, Khalifa Hussein EMDIDI Deputy Director- General told The Ethiopian Herald. He said, "We are increasing...
(Addis Fortune 06/01/17)
Benefits including housing, telephone and electricity bills and vehicle allowances, are all subjected to tax Government officials are going to be subjected to a tax of no more than 10pc of their gross salary for the fringe benefits – housing, telephone and electricity bills and vehicle allowances – they are getting. This is according to the new regulation drafted by the Ministry of Finance & Economic Cooperation (MoFEC) in pursuant of the Income Tax Proclamation that was approved last year...
(New Business Ethiopia 06/01/17)
Ethiopian Airlines, the fastest growing and most profitable African airline, is set to add a 6th weekly flight to Seychelles as of 6th December 2017, the Airline said. “Air transport being a vital component of the tourist appeal and the driving factor for economic growth in general, we have been serving our continent for seven decades, offering convenient connectivity options to more than 54 African cities. ,” said Chief Commercial Officer Ethiopian Airlines, Mr. Busera Awel. “Seychelles being Africa’s premier...
(Xinhuanet 05/31/17)
Ethiopia needs to modernize its livestock sector so as to reduce the devastating impacts of back to back drought incidents that hit the country since 2015, members of the Ethiopian parliament advised. Ethiopia is home to one of the largest livestock populations in Africa. Figures from the Ethiopian government indicated that the East African country is endowed with approximately 50 million heads of cattle, and 50 million goats and sheep. While the livestock sector is an important sub-sector within the...
(Reuters (Eng) 05/22/17)
Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from the International Monetary Fund as expressed by one of its top Africa researchers, Celine Allard, in an official IMF blog post and podcast. Allard co-authored...
(Xinhuanet 05/19/17)
Ethiopia's state owned air carrier Ethiopian Airlines (ET) is to start flights to Chengdu, the capital of China's southwest Sichuan province, on May 22, adding its roster of destinations to the world's most populous nation to five. Chengdu is known to be a tourist hotspot in China with attractions including giant pandas and Sichuan's historic artifacts and culinary tradition. In a statement sent to Xinhua on Thursday, Ethiopian Airlines says it plans to inaugurate the new destination in the presence...
(Reuters (Eng) 05/19/17)
When rich countries wrote off billions of dollars of African debt in 2005, they hoped governments would think twice about borrowing again in costly foreign currencies. Over a decade later, most sub-Saharan African countries still rely on U.S. dollar-denominated debt to finance their economies. Some investors say this is sowing the seeds of future debt crises if local currencies devalue and make dollar debt repayments more expensive. Aside from South Africa and Nigeria, governments have not yet done enough to...
(Xinhuanet 05/18/17)
China's Dongfang Electric Corporation will build a 120-megawatt (MW) wind farm in Ethiopia's Somali regional state, an Ethiopian official said Thursday. In a statement sent to Xinhua, Bizuneh Tolcha, Public Relation and Communication Director at the Ethiopia Ministry of Water, Irrigation and Energy (MoWIE), said the Ethiopian government expects the project to be started by July. "The wind farm project is expected to need 18 months to finish, cost about 257 million dollars to construct with 85 percent of the...
(Bloomberg 05/18/17)
Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said Wednesday it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. The new business could be worth as much...
(Bloomberg 05/16/17)
When the impoverished West African nation of Niger imposed a ban on donkey exports last year, a small community of traders just over the border in Nigeria was devastated. “Before the ban, you could see thousands of donkeys here,” said Mohammed Sani, a 45-year-old trader in the Nigerian town of Jibiya, as he wiped the sweat off his brow. “Now look at them: there’s no more than 50, crippling the business.” Donkeys are being slaughtered at an alarming pace to...
(The East African 05/11/17)
A deal between Egypt, Ethiopia and Sudan signed in December 2015 whereby the three countries agreed to end tensions over River Nile water faces an unclear future due to ongoing tensions between Egypt and Sudan. The two downstream countries at the end of April agreed to de-escalate tensions and end counter-accusations as well as import bans and deportations had brought relations between the two countries to tipping point. As the two neighbours bicker, Ethiopia continued its quest to bring Nile...
(AfricaNews 05/10/17)
The Ethiopia Railways Company will begin regular test runs on the route connecting the country to its neighbour Djibouti. A total of 30 locomotives – fifteen each for passengers and freight will be used for the test. The Ethio-Djibouti railway line was launched in October last year as part of efforts to open up Ethiopia to business. The route comprises a 758-km stretch linking Addis Ababa and the Red Sea state of Djibouti. The Chinese-built project was aimed at creating new manufacturing industries, improving transport and further opening up landlocked Ethiopia.
(Xinhuanet 05/10/17)
Ethiopia plans three new hydro projects as part of its ambitious strategy to meet its power generation capacity to 17,300 Mega Watts (MW) by 2020, a government official said Tuesday. The country currently has an installed energy capacity of 4,200 MW from hydro, wind and geothermal energy sources. Minister of the Ethiopia Ministry of Water, Irrigation and Energy Sileshi Bekele made the announcement on the sidelines of the 2017 World Hydro Congress, which is being held here from May 9-11...
(Voice of America 05/05/17)
As Africa grapples with a severe drought, and famine threatens millions of people, experts at the World Economic Forum on Africa this week in the South African city of Durban say food security needs to be a major part of discussions on advancing the continent economically. The annual World Economic Forum in Switzerland is usually a high-powered event, but at this week’s Africa meeting of the international organization, the continent’s big players are welcoming the humble farmer, now known as...
(Xinhuanet 05/04/17)
The World Economic Forum (WEF) Africa Competitiveness Report 2017 released in Durban Thursday called for urgent policy reforms if the continent intends to create more jobs for its growing young population. According to the report issued at the 27th WEF on Africa, fewer than one-quarter of the 450 million new jobs required in the next 20 years will be created if current policies remain unchanged. The report called for structural reforms in the economies to create more jobs for the...

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