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DP World Djibouti Rejects ESL
Request for Dedicated Berth |
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Disagreement is brewing between officials in the
marine sector in Ethiopia and Djibouti over the use
of the Port of Djibouti, and whether or not
Ethiopia's flagship carrier should continue to pay
security fees, reliable sources disclosed to
Fortune. |
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A Plan for
Networked Roads, New Houses, Cleaner Water
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Housing development, road construction and water
supply, the three areas Addis Abeba’s city
government says are its top priorities, remain
dominant in this year’s budget. Plans for brand new
mega projects have been incorporated into the city’s
draft plan for the coming fiscal year. |
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Beer Rarity |
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Just when the power shedding crisis, now immersing
the country in darkness virtually every other day,
could not get any worse; it cripples an industry
that could alleviate people's frustrations. Coffee
may be the beverage Ethiopia exports and that brings
loved ones together but when it is dark inside and
rainy outside what feels better than going to a
hotel or bar for a beer. However, now the power
provision problem is contributing to beer shortages
of all major brands throughout the country.
Generators are failing and factories are working
overnight to try and assuage the problem. |
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Over 500
Face Tax Authorities to Question Enforcement |
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Organizers from the Addis Abeba Chambers of Commerce
and Sectoral Association (AACCSA) had reserved the
hall at the Harmony Hotel, on July 2, 2009, perhaps
for 200 people, expecting a hundred more.
Unexpectedly, though, close to 500 businessmen and
women jammed the venue. Rarely has the city chamber
enjoyed its ability to master such a crowd. Staff
members of the hotel were observed sighing in relief
after the break, for they did manage to serve almost
all the participants with refreshments meant for
half their numbers. |
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Rain
Begins to Fall but Power Crisis Continues |
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Most of the already running new hydroelectric power
generation dams have, over the past week, seen a
slight rise in the level of their water. However, it
has not been significant enough to reverse the
intensive blackout schedule, experts at the state
power utility disclosed to Fortune. |
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India Seeks Priority Privileges from Ethiopia
to its Investors |
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The outgoing Indian Ambassador to Ethiopia, Gurjit
Singh, has requested Ethiopian officials give
priority to Indian investors because the Asian
country's investment in Ethiopia is growing fast,
the Ambassador disclosed. |
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AfDB Approves $326.5mln for Ethiopia-Kenya
Road Project |
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The African Development Bank (AfDB) Group has
approved a loan worth 326 million dollars to finance
the second phase of the Mombasa-Nairobi-Addis Abeba
Road Corridor Project, the bank announced. |
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US Assistance Focus Sustainable Agricultural
Dvt |
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The United States will focus on boosting farm
productivity, through sustainable agricultural
development assistance under its foreign assistance
programme to Ethiopia, its Deputy Secretary of State
for Management and Recourses Jacob J. Lew disclosed. |
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Toll Expressway Premieres in Ethiopia |
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Help may be on the way for the Addis-Adama (Nazreth)
road, notorious for its congestion and high accident
rate. The first express highway in Ethiopia, a
toll-road, is coming. The over seven billion Birr,
80Km, six lane, fenced, toll-road; will run
parallel, left of the currently operating two-lane
road. The expressway could replace the key role the
current road plays in import and export trades.
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Addis
May Be Home to African Chambers of Commerce |
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The Extraordinary General Assembly of the Federation
of African Chambers of Commerce, Industry,
Agriculture and Professions will decide whether
Addis Abeba should be the seat of another
continental organization, The African Chambers of
Commerce. |
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Structure Changes in Member Org May Affect
CETU's Chief Prospect |
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Kassahun Follo, the
current president of the Confederation of Ethiopian
Trade Unions (CETU), the nation's biggest alliance
of trade unions, may still have the chance to run
for a second term despite fundamental structural
changes in the organization. |
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News-
June 28, 2009 |
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Sarbet - Mek'anisa Road Construction Causes
Bottlenecking |
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The construction of a 30m cross-sectional
round-about, on the segment of the Sar Bet-Mek'anisa
road, near the Africa Union headquarters, has caused
traffic congestion on the Tor Hailoch main route and
other artery roads. |
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The Two Sides of Meles |
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Prime
Minister Meles Zenawi appeared to be in an upbeat
mood on late Wednesday afternoon, June 24, 2009,
when speaking to the international media and
journalists from the English press. He was witty in
his remarks and directly answered some of the
personal questions.
The press conference, which now appears to be held
consistently, approximately every two months, was
called on the backdrop of the sensational statements
he gave to the international press the same week.
PLEASE SEE FULL STORY
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News-
June 21, 2009 |
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Council Passes Bill on Dirty
Money |
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The Council of Ministers has endorsed a bill on
Friday, June 19, 2009, criminalizing the practice of
money-laundering. It sent this bill to Parliament
for final approval in what industry experts say is a
long overdue law. |
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Addis to Get 6.6b Br Budget
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Contrary to the trend on the federal level and its
own record of the past four years, the Addis Abeba
City Council may have to vote on a new budget bill
that is substantially lower from the budget of the
current fiscal year, reliable sources disclosed.
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Africa Bus Association Wins
Case against Former Board |
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The Cassation Bench of the Supreme Court has decided
in favour of the largest bus association in the
country: It ruled that a new board of directors was
elected fairly. The ruling on June 3, 2009, upheld
the decision by the Federal First Instance Court.
The case was brought to the Cassation Bench after it
was overtunred by the Federal High Court and the
Supreme Court, favouring the former board of
directors of the Africa Alem Public Transport Bus
Owners Association.
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Finance Ministry to Move
Accounts from Central Bank to CBE |
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The Ministry of Finance and Economic Development (MoFED),
the Central Bank and the Commercial Bank of Ethiopia
(CBE) will sign an agreement on an improved method
of handling the accounts of government agencies. |
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Court Tells Central Bank to
Stop “Nuisance Actions” |
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The Federal First Instance Court ordered the
National Bank of Ethiopia (NBE) to “stop nuisance
actions” against the Labour Union of the bank. |
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News-
June 14, 2009 |
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WB Approves $90m for East
Africa’s Agricultural Productivity Program |
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The World Bank’s Board of Executive Directors
approved 90 million dollars to strengthen
agricultural productivity and growth in the East
African region. The program will benefit Ethiopia,
Kenya and Tanzania with an allocation of 30 million
dollars each. |
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Through the Grinds |
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Six individuals with top managerial positions in
coffee export companies were sent to the Maekelawi
detention centre on Wednesday June 10, 2009, for
allegedly hoarding export coffee, sources disclosed.
The six coffee exporters: Mullege Plc, S. Sara
Coffee Exporter, Legesse Sherefa, Kemal Abdulla
International, Seid Yassin Ali Coffee Exporter and
Arsede, and other 88 suppliers have been out of
action when the government revoked their licences
and shutdown their warehouses, accusing them of
hoarding the countries principal export commodity
and foreign currency earner. Their stock coffee was
taken over by the government. |
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Three Denied Bail in RCuA Case |
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The Federal First Instance Court, last Thursday,
gave an additional seven days for the Revenues and
Customs Authority (RCuA) to further investigate
three of the eight individuals arrested, for their
alleged involvement in tax evasion a week ago. |
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