Archive for the ‘Business’ Category

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.

Indian IT major working on Ethiopian project

Friday, December 30th, 2011

ADDIS ABABA, ETHIOPIA: An Indian IT major is assisting the Ethiopian Revenues and Customs Authority (ERCA) transform its valuation methodology to a transaction cost system from a minimum price setting system to prevent under-invoicing.

Ethiopian Billionaire’s Cement Plant to Start Output This Month

Tuesday, December 6th, 2011

Dec. 5 (Bloomberg) -- Derba MIDROC Cement Plc, Ethiopia’s biggest cement factory, said it will start production within the “next 10 days,” helping end a shortage of the building material in Africa’s fourth-largest economy.

Ethiopian Sugar to Raise Sugar Output

Monday, October 31st, 2011

The Ethiopian Sugar Corporation announced plans to raise national sugar production from 300 thousand to 2.25 million tonnes annually. The corporation has begun extensive efforts towards increased sugar production according to Yilma Tibebu Corporation Public Head.

Ethiopia launches flight to Khartoum from the North

Sunday, October 16th, 2011

Ethiopian Airlines began direct flights from Ethiopia’s northern regions to the Sudanese capital Khartoum on Thursday. It was announced that the new flight will takeoff to Khartoum from Bahir Dar, capital to the Amhara Regional State and Tigray's Regional State Capital, Mekelle.

Allana Potash appoints BNP Paribas as advisor for Ethiopian potash project debt financing

Tuesday, October 4th, 2011

Allana Potash Corp. (TSE:AAA)(OTCQX: ALLRF) said Monday it has hired investment bank BNP Paribas as financial advisor for the structuring of a debt financing, which will be used for the construction of the company's Ethiopian potash project.

Ethiopia, Djibouti to Sign Electricity Export Deal Tomorrow

Tuesday, October 4th, 2011

A delegation from the government and the Ethiopian Electric Power Corporation (EEPCO) is scheduled to sign an official and binding agreement with Djibouti tomorrow for the export of electricity.

Diageo OutBids SABMiller to Acquire Ethiopia State Brewer for $225 Million

Tuesday, October 4th, 2011

Diageo Plc (DGE), the world’s largest distiller, agreed to buy Ethiopia’s state-owned Meta Abo Brewery for $225 million after outbidding SABMiller Plc (SAB) and Heineken NV. (HEIA) Diageo, which makes Guinness stout, will expand Meta Abo and introduce new products, Wondafrash Assefa, a spokesman for Ethiopia’s Private and Public Enterprises Supervising ...

Ethiopia Changes its Mind on Purchasing Bombardier Aircraft

Tuesday, September 27th, 2011

The Ethiopian Airlines said it had changed its plan to purchase Bombardier aircraft. It was reported last week that the airlines was holding talks with representatives of Bombardier, the Canadian airframer, for the purchase of additional Q400 aircraft which are known for less emission and noise.

Indian investors eyeing Ethiopian agriculture

Monday, August 29th, 2011

ADDIS ABABA: A group of Indian investors are visiting Ethiopia with interest in the east Afrian nation's rapidly growing farm sector.