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Ethiopia Inaugrates Omo River Hydro Power Plant

Omo-River-DamDecember 16, 2016 - Ethiopia inaugurated on Friday a 1.5-billion-euro ($1.57 billion) hydropower plant along the Omo River in the country's south that will nearly double total electricity output to 4,238 megawatts (MW), according to Reuters.

With a capacity of 1,870 MW, Gilgel Gibe 3 - built by Italian construction firm Salini Impregilo SpA - is expected to boost the Horn of Africa country's nascent manufacturing sector as well as electricity exports to neighbouring nations.

Work on the plant began in 2006 but its completion was delayed partly due to funding constraints. In the end, China's Export-Import Bank stepped in to fund 60 p

Unrest Threatens Ethiopian Airlines Success Story

Ethiopian-AirlinesDecember 12, 2016 - Ethiopia, indelibly linked with images of grinding poverty and famine, has quietly built one of Africa’s rare corporate success stories with the continent’s only consistently profitable airline shuttling passengers from around the world through its hub in Addis Ababa, reports Bloomberg.

Yet just as state-owned Ethiopian Airlines starts to vie with the likes of Dubai-based Emirates, outbreaks of violence around ethnic and human-rights protests have claimed an estimated 500 lives since June, threatening to deter travelers and undermining the political stability that helped it flourish. It’s also grappling with the

Huawei, CET to Build Intelligent Power Grid in Ethiopia

HuaweiDecember 12, 2016 - Chinese telecom giant Huawei and China Electric Power Equipment and Technology (CET) have signed a Memorandum of Understanding (MoU) with the Ethiopian Electric Utility to build better connected intelligent grid in Ethiopia.

As part of the agreement inked on Tuesday in Ethiopia’s capital Addis Ababa, the two Chinese companies will share their experiences with the EEU, and help the East African country build a smart grid system.

The two Chinese companies also made a donation to the EEU of a smart power distribution pilot project, which will be tested and verified so as to check its competence in the Ethiopian context.

Speaking o

Ethiopia Vows to Protect Foreign Companies

Damaged produce thrown out in EthiopiaOctober 26, 2016 - Ian Derry was shocked when he got the news. A group of men had ransacked his company’s factory and burned down several buildings. A decade of work, tonnes of produce, tens of millions of dollars invested in equipment – it was all gone in the span of a few hours.

Derry is the director of africaJUICE, a Dutch company whose fruit processing plant in Ethiopia was one of almost a dozen factories attacked during the most recent outburst of protests by the Oromo ethnic group. Now foreign agri-businesses like his face a tough choice: stay, despite the risk, or leave and lose their investment.

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A Joyous Day in East Africa as the Ethiopia-Djibouti Rail Connection Is Inaugurated

The Ethiopian and Djibouti governments have inaugurated the first and the longest electric railway line in East Africa, built with the help of two Chinese firms and a Chinese bank.Oct. 10, 2016 — Railway Gazette reports today on the inauguration of the 756-kilometer standard-gauge Chinese-built railway linking Ethiopia with Djibouti. Ethiopia’s Prime Minister Hailemariam Desalegn and Djibouti President Ismail Omar Guelleh officially inaugurated the linking of t

Ethiopia to overtake Kenya as Eastern Africa’s top economy

ethiopia-to-overtake-kenyaOctober 10, 2016 - Ethiopia’s economy is expected to overtake Kenya’s this year, buoyed by massive government spending on infrastructure that has kept the Horn of Africa nation on the list of the world’s fastest-growing economies in the past 10 years.

The International Monetary Fund’s (IMF) latest statistical estimates indicate that Ethiopia’s gross domestic product (GDP) is forecast to grow from 61.62 billion US dollars in 2015 to 69.21 billion US dollars th

Ethiopia Losing Foreign-Investment Appeal as Attacks Spread

Ethiopian protesters cross their wrists above their heads as a symbol for the Oromo anti-government movement.October 10, 2016 - Ethiopia’s attraction as a favorite new destination for foreign investors is fast dissipating as businesses owned by Nigerian billionaire Aliko Dangote and Dutch fruit processors come under attack in growing political unrest.

The government declared a six-month state of emergency Sunday to deal with the violence accompanying protests by ethnic Oromo and

Ethiopian Horticulture Exporters Eye Seoul Market

DreamlinerJune 20, 2013 - Ethiopian vegetable and fruit exporters are considering expanding into the South Korean market, with the launch of direct flights to Seoul by Ethiopian Airlines, according to Capital. The export market for Ethiopian produce is currently limited to Europe and the Middle East, while there is huge demand in other parts of the world.

Direct flights between Addis Ababa and the Korean capital are scheduled to begin tomorrow, Monday 17th of June. Market experts see it as a great opportunity for Ethiopian exporters.

“Some prod

Ethiopian Economy to Grow 6.5% This Year, Projects IMF

IMFMay 13, 2013 - The International Monetary Fund (IMF) projected that Ethiopia’s Gross Domestic Product (GDP) will grow around 6.5 percent for 2013/14 with inflation continuing its downward trend, contesting the government’s official projection of 11.4 percent, according to Capital.

The report entitled ‘Regional Economic Outlook: Sub-Saharan Africa - Building Momentum in a Multi-Speed World’ was released this week at the headquarters of the IMF Ethiopia regional office. 

The report states that with 5 percent growth in 20

Ethiopia to Resume Tantalum Production

tantalumMay 17, 2013 - Ethiopian Minerals Development Enterprise (EMDE) recently asked its board of directors and the Privatisation and Public Enterprises Supervisory Agency permission to resume production and export of tantalum concentrate from its Kenticha tantalum mine, according to the Reporter.

Ethiopian Airlines Seeks Compensation for Dreamliner Grounding

DreamlinerMay 8, 2013 —The chief executive of Ethiopian Airlines said May 7 that his company will seek compensation from Boeing for the grounding of its 787 Dreamliner planes, according to media reports.

Tewolde Gebremariam told The Associated Press that his company will soon start discussions with Boeing over compensation.

A Boeing spokesman, Daniel Mosely, said the company has been in close communication with its customers regarding compensation since January, when Dreamliners around the world were grounded because of overheating lithium batt

Ethiopian Becomes First Carrier to Resume Dreamliner Flight

Ethiopian DreamlinerApril 30, 2013 - Ethiopian Airlines became the world's first carrier to resume commercial flights with Boeing Company's grounded 787 Dreamliner passenger jets, a Reuters witness said, as one of the its planes left Addis Ababa for Kenya on Saturday.

Chinese Company to Build Transmission Lines for Grand Dam

ChinaApril 26, 2013 - Ethiopia signed a contract Friday worth nearly $1 billion with a Chinese energy company to build two transmission lines linking the country's largest dam to the country's central power grid. The Ethiopian Electric Power Corporation (EEPCo) signed the deal with China Electric Power Equipment and Technology Company (CET) in the Ethiopian capital.

The three-year project, which will be fully funded by the Export-Import Bank of China, will start immediately. EEPCo's CEO said the deal was a major step for Ethiopia's energy sector. "This is another milestone in (realising) Ethiopia's development objectiv

Singapore Business Delegation Visits Ethiopia

SingaporeApril 17, 2013 - A Singapore business delegation visited Ethiopia with the aim of assessing investment opportunities in the country, according top Capital.

At a press conference held on Tuesday, the business delegation along with the Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA), discussed several investment opportunities which would benefit both countries. “We haven’t exactly pinpointed specific areas where we will have investment agreements, but there are companies willing to invest in the areas the Ethiopian government is promoting such as Agro-processi

Ethiopian Hopes to Be the First Indigenous Oil Explorer

Tewodros AshenafiApril 8, 2013 - - Tewedros Ashenafi hopes his Ethiopian exploration outfit will become the first indigenous company to make a basin-opening discovery in sub-Saharan Africa's 21st Century oil and gas boom, according to Reuters.

His privately-held SouthWest Energy holds 46,000 square kilometres of exploration acreage amounting to almost 4 percent of the vast, land-locked east African country.

It is looking to drill three wells in 2013 and 2014 in its Jijiga basin blocks on Ethiopia's border with Somalia in

Ethiopian Airlines to Construct Cargo Storage Costing USD 200m

EthiopianMarch 19, 2013 - Ethiopian Airlines is to construct cargo storage and work area facility for both dry and perishable goods at a cost of up to USD 200 million, reports Capital. In addition, on March 9, the airline inaugurated a new warehouse for perishable goods that can accommodate four aircrafts’ cargo simultaneously, at a cost of 75 million birr.

The new warehouse covers a total area of 3,700 sqm and is built in line with the highest international standard making Addis Ababa a major cargo hub. This warehouse has a controlled temperature ranging from 2 to 4 degree centi

Ethiopia to Supply Power to Five East African Countries

Mihret DebebeDecember 23, 2012 - Five East African countries are expected to become beneficiaries of the Eastern Electricity Highway project which is expected to see these countries using Ethiopia’s surplus electric power for their domestic uses, reports Capital. The five countries expected to be connected in this power pool are Kenya, Burundi, Tanzania, Uganda and Rwanda.  

This was revealed at the occasion of the USD 243 million loan agreement signed on December 14 between the Ethiopian government and the World Bank for the financing of a section of Eastern Electricity Highway

Ethiopian Banks Facing Serious Shortage of Foreign Currency

NIBDecember 17, 2012 - Ethiopian Banks are facing serious shortage of foreign currency, reports Capital. Nib International Bank Share Company (NIB) is one such bank which announced that it is facing a serious shortage of foreign currency.

The acute shortage is particularly due to a wide imbalance between import and export traders.  Ethiopia pays USD 11 billion for imported goods annually, while earning just USD 3.2 billion from export of goods and agricultural products, say analysts.

Amerga stated that the most dependable sources of foreign exchange

Annual Licensing Requirement Hinders Business Development - Paper

Ethiopian BusinessNovember 11, 2012 - Annual registration requirement for Ethiopian businesses is one of the main hindrances in business development claims a paper presented at the third Ethiopian Public Private Consultative Forum (EPPCF), according to the Capital.

At the consultative forum held on Tuesday October 30 at Desalegn Hotel, the main problem raised was with the Commercial Registration and Business Licensing Proclamation. At the forum a research paper that focuses on commercial registration and licensing was presented by Abebe Abebaw, a trade consu

EEPCo, Two Chinese Firms Sign 6B Br Deal on Adama II Wind Farm

October 21, 2012 - The Ethiopian Electric Power Corporation (EEPCo) and two Chinese companies, Hydro-China and CGCOC, have signed a contract to construct the Adama II Wind Farm at a cost of over 6 billion birr, according to Capital.

The project, which is the second phase of the Adama I wind farm, will be completed within 18 months. Both companies that signed the deal have also constructed the first phase of the project, the Adama I Wind Farm.

Adama II will have an installed capacity of 153MW which is three times that of Adama I with a  capacity to generate 51 MW. The new project will have 102 turbines installed, each producing 1.5 MW.

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