Archive for the ‘Investment’ Category

Travel groups pour into open-for-business Africa

Friday, March 9th, 2012

* China, Middle East-led investment * Hotel chains eye oil hot spots for new sites * Ethiopian Airlines sees greater competition BERLIN, March 9 (Reuters) - The world's big hotel chains and airlines are rushing to serve new corporate customers in Africa, as Chinese and Middle East investment boosts business interest in the resource-rich ...

Ethiopian tops Forbes 2012 Black Billionaires list

Friday, March 9th, 2012

The Ethiopian-born Saudi billionaire ousted Nigerian billionaire Aliko Dangote, worth US$11.2 billion. Dangote, who is ranked second, remains Africa's wealthiest individual. Al-Amoudi, 67, is the 61st richest person in the world. He is presently involved in various construction projects in Ethiopia, where he has invested more than US$2 billion.

Ethiopia to Enact Stricter Regulation on Petroleum Industry

Friday, March 9th, 2012

The Ministry of Water and Energy is preparing a draft proclamation to properly regulate the petroleum industry in Ethiopia according to Wendimu Tekle, State Minister for Water and Energy.

Alecto Minerals seals Ethiopia gold acquisitions

Wednesday, March 7th, 2012

Alecto Minerals (LON:ALO) today confirmed it has completed its acquisition of the Aysid-Metekel gold project in Ethiopia. It has also made the first share based payment for the separate acquisition of the Wayu Boda gold project, which is also in Ethiopia.

Ethiopian Export Earnings Exceed $1.3 billion

Wednesday, March 7th, 2012

Ethiopia has earned 1.35 billion US dollars from the export of various goods in the first two quarters of the Ethiopian financial year according to the Ministry of Trade. More than 35 kinds of agricultural and industrial products were exported to and estimated 120 countries across the world during the course ...

South Sudan, Ethiopia Sign MoU

Monday, March 5th, 2012

Juba — South Sudan and Ethiopia yesterday signed eight memoranda of Understanding at New Sudan Palace in Juba. It was signed after five days of Joint Ministerial Committee meeting of the two countries co-chaired by the two foreign affairs ministers, Nhial Deng Nhial on the South Sudan side and Haile ...

As China-built AU centre opens, India focuses on quiet Africa diplomacy

Monday, January 30th, 2012

 Addis Ababa/New Delhi, Jan 30 : As the glitzy China-built African Union building opened in the Ethiopian capital, India was quietly engaged in intense consultations with delegations from around 25 African countries, including foreign office talks with Ethiopia, to fast-track implementation of key projects agreed at the second India-Africa summit.

The great Ethiopian land-grab: feudalism, leninism, neo-liberalism … plus ça change

Tuesday, January 3rd, 2012

Land in Ethiopia is being leased to agro-industry investors on very long terms and below market rates. The beneficiaries have good political connections. But then land has been the play-thing of centralising authoritarians throughout Ethiopia's recent history.

A climate of corruption, Ethiopian edition

Monday, December 19th, 2011

By Janice Winter, Daily Maverick | December 19, 2011   COP17 is being hailed as “groundbreaking” as a deal was agreed after 14 days of difficult and, at times, deadlocked talks. One of the most contentious issues for Africa was the Green Climate Fund, which will go ahead despite anger at the ...

Ethiopian Illicit Outflows Doubled In 2009, New Report Says

Tuesday, December 6th, 2011

By Christopher Matthews Ethiopia lost $11.7 billion to outflows of ill-gotten gains between 2000 and 2009, according to a coming report by Global Financial Integrity. That’s a lot of money to lose to corruption for a country that has a per-capita GDP of just $365. In 2009, illicit money leaving the country ...