In the minds and hearts of millions of their supporters, there could be no doubt that the opposition leaders released from jail last week are indeed leaders of the Coalition for Unity and Democracy (CUD). It is a verdict from a court of public opinion. However, the key to the CUD is controversially held by two warring individuals that were once loathed by the leadership of the party and its vast followers as “traitors and individuals who have betrayed the cause for their own selfish interests”.  
 

Temesgen Zewdie (MP-CUDP) and his archrival within the party, Ayele Chamiso, deputy chairman, have the final say – accidentally - over the very existence of a political party that has come to be almost a household name in today’s Ethiopia. Tamrat G. Giorgis, Fortune Staff Writer, has looked into the detail.

Chinese Company to Construct First Private Industrial Zone

Chinese Jiangsu Qiyaan Investment Group is to construct the first private industrial zone in Dukem, Oromia Regional State, on five square kilometre leased plot. A steering committee headed by Girma Biru, minister of Trade and Industry, was created to support the company on request by the Prime Minister’s Office.

NBE Rejects Banks’ Request for Grace Period on Reserve Increases

The National Bank of Ethiopia (NBE) rejected the Ethiopian Bankers Association‘s (EBA) request of a three-month grace period in complying with the increase of the reserve requirement banks are obliged to hold from five per cent to 10pc.

Kahsu G. Mariam, 52, was living in a three bedroom villa with six members of his family until July 1, 2007. He spent 320,000 Br in 2004 to construct his home in Yeka-District, Kebele 20/21, in front of CMC.

Finally, Employers Federation to Re-Elect Board

The Ethiopian Employers Federation (EFF), which for months has been in controversy with the Ministry of Labour and Social Affairs (MoLSA), is finally to call a general assembly to re-elect new board members, submitting to the Ministry’s order. An amendment of the bylaws of the Federation is also scheduled to take place at the general assembly.

Dutch Investor Requests to Renovate Fassiledes Castle

Mamite Real Estate Company, is established by the Ethiopian born Dutch investor Yonas Bekele, requested the Amhara Regional State to renovate the 342-year-old Fassiledes Castle in Gonder.

Agency to Privatise Bole-Bulbulla Construction

The Privatisation and Public Enterprises Supervisory Agency (PPESA) is set to sell Bole-Bulbulla Construction Aggregate Enterprise, the largest of the aggregates in the country, to SABA Engineering Plc for 17 million Br.  

Ada’a Cooperative to Enter Milk Market

Ada’a Dairy Cooperative Plc procured milk processing machinery at a cost of six million Birr from a Belgian company, Packo. After installing the machinery acquired in April 2007, in its processing plant within the coming two months, the Cooperative envisions supplying 15,000lt of milk per day.

Feleke Yimer Appointed as Wubishet Berhanu’s Deputy

Berhane Deressa, mayor of the Addis Abeba City Caretaker Administration (AACCA), appointed Feleke Yimer, who was general manager of the Addis Abeba branch of the Ethiopian Transport Authority, as the city deputy general manager.

Vast Tea Plots to Expand Plantation Land by 400pc

Though more famous for being the birthplace of coffee, Ethiopia is attempting to expand its tea production by awarding vast swaths of land to for plantations. Single-handedly, the grant of 10,000hct to an Indian company will expand the cultivated areas by over 100pc.

Road Authority’s First Threefold Award to One Company

For the first time in its history, the Ethiopian Roads Authority (ERA) granted three huge road projects at once, to the Chinese Sinohydro Corporation Ltd. These road constructions that will be made in the Oromia and Benishangul Gumuz regional states are budgeted at almost a billion Birr.

Bio-Fuel Industry Facing Environmentalist Scrutiny

The next target of environmentalists after succeeding in addressing some of their concerns surrounding the budding horticulture sector last month appears to be bio-fuel production. Concerned parties have launched a campaign to institute similar regulations to those of the code of practice for flower producers on an industry seen by many as being green.

Expected Verdict on Former CBE officials Extended to Next Ethiopian Year

Though it was expected by many that a verdict would be passed on July 13, 2007, on 19 files of former Commercial Bank of Ethiopia (CBE) senior officials currently in jail, the Federal High Court extended the decision to October 18, 2007.  The Court will close starting from August 7, for a two-month rainy session leave until early October.

DMC to Build Residences on Lebu Mountain

DMC Real Estate Development Company has leased 70,000sqm of land from the Addis Abeba City Caretaker Administration (AACCA) Land Administration Bureau, on Lebu Mountain on the outskirts of the city. The Company plans to construct over 200 villas and residential apartment houses at a project cost of about 600 million Br.