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Ethiopia’s Largest Power
Plant Yet
The
Tana-Beles Multipurpose Project reached a milestone with the
completion of the boring its12km tunnel. The power plant is
expected to be Ethiopia’s largest power plant when it goes
operational in March, 2010. The breakthrough event, on
November 9, 2009, was celebrated in the presence of
Alemayehu Tegenu (left), Tefera Walwa, Ayalew Gobeze and
Mihret Debebe (far right), minister of Mines and Energy,
minister of Capacity Building, president of the Amhara
National Regional State and CEO of the Ethiopian Electric
Power Corporation, respectively. Water from Lake Tana will
be used to generate 460mw electric power. After passing
through the turbines, the water is expected to be used for
irrigating crops. It is widely hoped that these
pollution-free, domestic source of electricity will render
the use of expensive, noisy, smelly and foreign
exchange-consuming generators, according to the Mining
Minister. Generators of various sizes became part of the
landscape earlier this year when power cuts increased from
once a week to every other day or more.
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No More Incentives for Real
Estate Developers |
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A
new directive from the Ethiopian People’s
Revolutionary Front (EPRDF) has ended all incentives
for real estate developers; it has also brought an
end to negotiated land lease agreements for large
plots of land. |
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Housing Agency Ready for
Further Struggle |
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The Government Housing Agency is taking on the
Ministry of Works and Urban Development, trying to
be ascertain its proclaimed right to be involved in
real estate development. |
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Indebted City Solicits for EIC Loan |
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The debt-ridden Addis Abeba City Government has been
given the green light by the Public Financial
Enterprises Supervisory Agency (PFESA) to approach
the Ethiopian Insurance Corporation (EIC) for a loan
of 50 million Br. |
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Inevitable Eviction of China Bar Restaurant, Hadya
Supermarket |
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The Agency for Government Houses (AGH) has given a
50 day extension for China Bar and Restaurant Plc
and Hadya Supermarket to vacate the ground floor of
the building near the Ghion Hotel, where the
Ministry of Women’s Affairs is located. |
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Housing Agency to Restore
Residences Reinstated Via False Means |
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This followed the failure of the people who took the
houses to respond to the call from Privatisation and
Public Enterprises Supervisor Agency (PPESA) to
present their ownership documents again. There is a
project, within PPESA, established to return houses
that were confiscated by the decision of individual
officials of the Derg era. This project does
not include the confiscation of those houses by the
socialist proclamation which deemed them extra
properties. |
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City’s
Senior Cabinet Members Shelved |
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The Addis Abeba City Cabinet, dominated by the
ruling party, reshuffled its top cabinet members on
the grounds of their failure to carryout
responsibilities in a harmonious and friendly manner
as of last week. |
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Saudi Ministers to Meet Seven
East African Heads in Addis for Investment |
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A
high powered delegation of four Saudi ministers will
meet with the heads of state of seven east African
countries in Addis Abeba during the Saudi-East
African Economic Forum. |
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City Bus Seeks to Supplement
Service |
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Ethiopia is waiting to hear from the government of
the Netherlands whether its proposal for a grant to
buy 200 city buses has been accepted, a senior
government official at the Ministry of Transport and
Communication (MoTC) told Fortune. |
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United Underperforms Amid
Auditing Irregularities |
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An expression one of the participants of the 15th
annual shareholders meeting reception party of the
United Insurance SC (UNIC) used to describe Eyessus
Work Zafu, managing director of the insurance firm
while he was speaking about the yearly performance
of the firm was “The old lion is roaring,” |
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Ethio-Dutch Venture to Export Organic Sesame |
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Selet Hulling Plc, a joint investment between Kaleb
Service Farmers House Plc and a Dutch company called
Tradin Organic Agriculture BV, is to officially
start processing sesame for export on Monday,
November 16, 2009, from its plant in Legetafo in the
Oromia Special Zone. |
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Court Wallops VAT Offenders |
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Ahmed Nuriye, owner of Ahmed General Importer, is
the first to receive a sentence in a list of 24
businesses, including Speed Car Wholesale, Kassech
Kitfo, Kaza Wonz Trading Plc, Fika Trading Plc,
Kershado Butchery and Ashu Butchery. These owners
and involved employees had been taken into custody
by intelligence people of Ethiopian Revenues and
Customs Authority (ERCA) in September, 2009, for VAT
violations. |
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Amhara State to Get First Pipe
Factory |
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The first pipe factory in Amhara established, last
August, by the Amhara Water Works Construction
Enterprise and Golden Trade Company, has been under
construction since November 4, 2009, in Bahir Dar. |
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Tikur Abbay to Manufacture
First Safty Shoes |
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Tikur Abbay Shoe S.C.,
owned by Mohammed Hussein Ali Al-Amoudi, is to start
production of safety shoes in Ethiopia, Abebe Teklu,
company manager told Fortune.
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Dessie to Get 22.8m Br
Agrostone Factory |
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This factory will be the second in the Amhara
Regional State after the one in Bahir Dar. It has
been under construction since last June and will be
constructed at a cost of 22.8 million Br on
11,000sqm of land, according to Solomon Demessie,
production and technical manager at the development
office.
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Overdue Act Introduced for Accountants, Auditors |
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A draft resolution that
is hoped to clarify the confusion in the accounting
trade, without causing a major shake-up, was tabled
to Parliament on Thursday, November 12, 2009. |
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historic!
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It was
indeed an historic moment seeing Meles Zenawi, chairman of
the EPRDF, exchanging smiles and shaking hands with
opposition political leaders. Following an agreement on
electoral code of conduct negotiated by leaders of four
parties for two months, opposition leaders have asked the
code to be signed by chairpersons of the parties, according
to a top negotiator of one of the parties. The ruling party
has agreed. This led to a rather extraordinary turn of
events whereby Meles made an appearance at the Sheraton
Addis on Friday afternoon, October 2009 (before he departed
to Nigeria) and inked the deal with Hailu Shawel (AEUP),
Lidetu Ayalew (EDP), and Ayele Chamiso (CUD), in the
picture above. It is unprecedented over the past 18 years
for Meles to be seen in public, shaking hands with any
opposition leader such as Hailu (Eng.), an opposition leader
jailed and sentenced to life imprisonment before pardoned by
this administration. Smiles and hand shaking were not
reserved for the chiefs. Below is Sekoture Getachew, foreign
relations head of the EPRDF, following the suit of his
leader in extending gratitude to Getachew Mengiste (Maj.) of
AEUP. Far right (below) is Lidetu Ayalew of EDP giving ear
to Hailu, a political rival with whom he had a bitter
fallout in the aftermath of the 2005 national election.
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PLEASE SEE
THE STORY |
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