Thursday 14 December 2017
(Xinhuanet 09/06/17)
Ethiopia has established five gold trading centers as it seeks to boost its export income from the mining sector. Speaking to Xinhua on Tuesday, Kiros Alemayehu, Public Relations Senior Expert at the Ethiopian Ministry of Mines, Petroleum and Natural Gas (EMPNG), said the establishment of the centers will help cut inefficient bureaucracy in gold trading. The ministry also hopes the establishment of gold trading centers will cut contraband gold trading which Ethiopia says has contributed to decline in exports in recent years. The gold trading centers were established in Oromia, Southern, Tigray, Benishangul Gumuz and Gambella regional states. "With the establishment of the five gold trading centers, we hope Ethiopia's minerals export revenue target of 450 million U.S. dollars will...
(The Associated Press 09/06/17)
Men, women and children in this remote region of Ethiopia scramble to receive food aid and feed their rail-thin cattle as a huge cloud of dust rises into a sky that hasn’t delivered enough rain for the past three years. The mass feeding program, managed by aid groups in this sun-scorched district, is the last attempt to save the lives of humans and animals until the rains hopefully materialize in mid-September. More than eight million people in drought-hit southeastern and southern Ethiopia are in need of emergency food assistance, officials said as the heads of the World Food Program, Food and Agriculture Organization and International Fund for Agricultural Development made a rare joint visit over the weekend. Despite economic growth...
(Xinhuanet 09/05/17)
Heads of three UN food agencies have jointly called on the global community to strengthen drought response interventions in Ethiopia. The call was made on Monday in Ethiopia's capital Addis Ababa by the visiting chiefs of the three UN food agencies who are David Beasley, Executive Director of the World Food Programme (WFP), José Graziano da Silva, Director-General of the world Food and Agricultural Organizations (FAO), and Gilbert F. Houngbo, President of the International Fund for Agricultural Development (IFAD). The officials, after their four-day joint visit in drought-affected Tigray and Somali regional states of Ethiopia from September 1 to 4, highlighted the critical food and nutrition security situations underway in the east African
(APA 09/05/17)
Ethiopia’s year-on-year inflation increased to 10.4 percent in August from 9.4 percent the preceding month, according to Central Statistical Agency of Ethiopia (CSA). During August, there was a stronger increase in prices of cereals (especially teff, maize, wheat, barley and sorghum) that led to the rise in food prices and general inflation, the agency said in a statement on Monday. There was a rise in the prices of fruit during August, the statement further noted. Non-food inflation also increased compared to the preceding month mainly due to a rise in the price of clothing and footwear, housing and energy, household goods and furnishings, as well as food and drinks, it added.
(Voice of America 09/05/17)
Human Rights Watch is urging the Saudi government to halt its plan to expel hundreds of thousands of Ethiopian immigrants who missed a late August deadline to register or face deportation. Felix Horne, HRW’s senior researcher for the Horn of Africa, says the immigrants have a legitimate concern of being imprisoned or worse if they return to their home country. “They say that they will be killed, arrested and tortured by the government they fled from," Horne told VOA's Horn of Africa Service. "If you are an individual who is fleeing [a] repression system, scared to return to the country of origin, you would be entitled to international protection,” he says. An estimated 400,000 to 500,000 Ethiopians currently reside in...
(APA 09/05/17)
Nigeria has said it will not hand over the management of its carrier, Arik Air to the management of the Ethiopian Airlines. The Asset Management Corporation of Nigeria (AMCON), which debunked the reports on Monday, said it was not negotiating with Ethiopian Airlines to manage Arik Airline because the airline had started doing well. AMCON, which took over the management of Arik Air in February, following the airline’s inability to repay debts in excess of $990 million to AMCON and other creditors. A statement by Mr. Jude Nwauzor, Head of Corporate Communications, said AMCON was not aware of any discussion with the management of the Ethiopian Airlines regarding Arik Air. “It is on record that the Receivership Team has within...
(Bloomberg 09/05/17)
A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. In South Africa, GDP expanded 2.5 percent from the previous quarter, ending the second recession in almost a decade. Both economies had agriculture largely to thank: in South Africa, a bumper corn harvest following the worst drought in more than a century saw the sector surge 34 percent from the prior quarter, while in Nigeria, where farming vies with industries as the second-biggest contributor to...
(The Associated Press 09/04/17)
Ethiopia on Friday said a senior figure with the rebel Ogaden National Liberation Front has willingly surrendered, days after the group accused neighboring Somalia’s security forces of kidnapping and forcibly extraditing him. Ethiopia foreign ministry spokesman Meles Alem told The Associated Press that Somalia “played a facilitation role” in the surrender of Abdikarin Sheikh Muse. The incident involving the ethnic Somali rebel leader has sparked outrage in Somalia, with some accusing the government of violating the constitution, which bars the extradition of Somali citizens to another country. Somalia’s government has not confirmed the extradition, and the intelligence chief has called it a “sensitive matter.” “We want an explanation from the government and which must give clarifications on who exactly has...
(APA 09/04/17)
Ethiopia on Monday will chair an emergency meeting on the nuclear test by North Korea. The emergency session aimed at discussing an international response to the Democratic People's Republic of Korea (DPRK) latest nuclear test, will be the first meeting of the Security Council under the Ethiopia's presidency. Ethiopia has assumed the presidency of the United Nations Security Council last Saturday and its delegation has been in DPRK since last Saturday. During its presidency of the Council, Ethiopia will give priority towards strengthening the partnership between the United Nations (UN) and the African Union (AU) in the area of peace and security, according to Ethiopia’s Ministry of Foreign Affairs. It will also lead the UNSC delegation, which will participate at...
(Shabelle News 09/04/17)
Ethiopia's Ministry of Foreign Affairs has reaffirmed the country's open door policy for refugees, highlighting the efforts made by the government in the management of the regional refugee crisis. The East African country is currently home to more than 850,000 refugees from 21 countries, with Sudan, Somalia and Eritrea making up the majority, a media report said on Saturday. Ethiopia has managed to maintain national development while managing the refugee problem, said Ethiopian Minister of State for Foreign Affairs Hirut Zemene at a meeting with Rosemary McCarney, a member of the OHCHR Executive Committee (UNHCR) and Canadian Ambassador to the United Nations. During her visit to Ethiopia last June, UN High Commissioner for Refugees Filippo Grandi praised the efforts of...
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of sub-Saharan Africa’s GDP and their recoveries may boost trade and production across the region. The reasons differ: while Nigeria, the continent’s biggest oil producer, is benefiting from a rebound in crude output, stronger retail sales may help drive growth in...
(Reuters (Eng) 08/31/17)
An abattoir located among herding communities in Ethiopia’s eastern Somali region, known more for droughts and famine than business opportunities, is an unusual stop for a U.S. aid administrator. But USAID chief Mark Green stopped at the Jijiga Export Slaughter House (JESH) during a visit to Jijiga on Wednesday to see the effects of a crippling drought that has pushed some areas to the south to the brink of famine. The abattoir buys goats, sheep, cows and camels for slaughter from herders to export to the Middle East, giving families cash to buy food during the drought. A $1.5 million loan from Feed the Future helped purchase refrigerators and trucks for the facility, which employs 100 people from local villages...
(Agence Ecofin 08/31/17)
Ethiopian Airlines on Wednesday said it is in talks to take over the management of Nigeria-based Arik Air. According to Ethiopian Airlines' head for international services Esayas Woldemariam, the negotiation is a sequel to request by Nigeria's aviation ministry. “We definitely are willing and able to take over the management of Arik Air.” Ethiopian Airlines is one of Africa's largest airlines. The takeover is expected to give the airline a major presence in Nigeria, Africa's most populous nation and one of the continent's top economies, according to Associated Press. It should be recalled that Nigerian government took over Arik Air, the country’s largest airline, in February after it declared heavy losses which resulted in the company being unable to pay...
(Xinhuanet 08/31/17)
Cooperation between China and Africa has seen remarkable progress in renewable energy, showing the determination of developing countries to harness the huge potential of clean energy and combat climate change. China-Africa Renewable Energy Cooperation and Innovation Alliance, a coalition of financing institutions, smart grid providers and core manufacturers, on Thursday signed a Memorandum of Understanding (MOU) on cooperation with Africa Renewable Energy Initiative (AREI). "Africa has the highest potential for renewable energy, but the least access to it," said Seyni Nafo, chairman of AREI endorsed by the African Union Assembly. The MOU will enable the two parties to cooperate in renewable energy generation in Africa, with Chinese smart grid providers and core renewable energy manufacturers providing technological and financial support...
(Reuters (Eng) 08/30/17)
Three of the world’s top marathon runners will compete against each other for the first time when Ethiopia’s Kenenisa Bekele takes on Kenya’s Eliud Kipchoge and Wilson Kipsang at the 2017 Berlin marathon on September 24. Olympic champion Kipchoge, who has the third-fastest personal best official time of two hours, three minutes and five seconds, is keen to break the two-hour barrier and set a world record. The 32-year-old came close during the Nike Breaking2 project, when he missed out by 24 seconds at Monza, though his time is not an official world record due to aspects of the event not satisfying IAAF criteria. Compatriot Kipsang set a new mark at Berlin in 2013 but his time of 2:03:23 was...
(Bloomberg 08/30/17)
One Thousand & One Voices LLC, a private-equity fund started by the great-grandson of the founder of Coors Brewing Co., said it bought a producer of sushi-quality trout that is the largest such facility in Africa. SanLei’s operations are on the Katse Dam in Lesotho, an enclave surrounded by South Africa, 1K1V, as the fund is known, said in an emailed statement Tuesday. The company didn’t disclose the value of the transaction. SanLei has secured a marketing and distribution agreement with CGC Japan Co., which has more than 4,000 stores and collective revenue of more than $40.5 billion, making it Japan’s largest joint-procurement supermarket chain, 1K1V said. The fund has been hunting for private-equity investments that tap Africa’s growing consumer...
(Reuters (Eng) 08/29/17)
Europe’s “big four” continental powers and three African states agreed a plan on Monday to tackle illegal human trafficking and support nations struggling to contain the flow of people across the desert and Mediterranean sea. The 28-nation European Union has long struggled to reach a coherent answer to the influx of migrants fleeing war, poverty and political upheaval in the Middle East and Africa, and the crisis is testing cooperation between member states. After hosting the leaders of Germany, Italy, Spain, Chad, Niger and Libya, French President Emmanuel Macron said it was time for greater coordination. “We must all act together - from the source countries to Europe and passing by the transit countries, especially Libya - to be efficient,”...
(Reuters (Eng) 08/28/17)
Getting Europe’s migrant crisis under control will be in focus at a summit of Europe’s “big four” continental powers and three African nations in Paris on Monday, with French President Emmanuel Macron seeking concrete action. The 28-nation European Union has struggled to agree on a coherent answer to the influx of migrants fleeing war, poverty and political upheaval in the Middle East and Africa, and the crisis is testing cooperation between member states. Over the summer, Macron sought to take the initiative on managing the flow of migrants crossing the Mediterranean from Libya, mainly into Italy. He proposed hotspots in Africa to handle asylum requests. The viability of such centers was questioned by European and African allies and on Monday...
(East African Business Week 08/25/17)
The hospitality sector in Africa’s emerging markets looks set to profit from foreign investment and an influx of foreign travellers. The emerging markets are set to post faster growth in revenue than their counterparts in developed countries, making them integral to the expansion strategies of some of the world’s leading hotel developers. Pietro Calicchio, Hospitality & Gaming Industry leader for PwC Southern Africa says: “The growth potential of Africa is high mainly because of the rapid economic growth in some economies, a growing middle class and an increase in visits from foreign visitors. “The emerging markets are a sought after destination for foreign investors – it is in these markets where there is continued economic growth and a need for...
(Bloomberg 08/24/17)
Every African nation that’s sold dollar debt now has at least one junk rating, but it would be hard to tell by looking at the bond market. The average yield on sovereign Eurobonds in Africa has hovered near the lowest level in two years this month, according to a Standard Bank Group Ltd. index, even after Moody’s Investors Service cut Namibia to below investment grade on Aug. 11. The world’s biggest producer of marine diamonds had been the continent’s only dollar-bond issuer without a junk rating. A low interest rate environment in the developed world has encouraged investors to look past the problems plaguing African economies, including low commodity prices, dollar shortages in some of them and rising political tension...

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