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EVERY LAST DROP |
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Back in the 1960s, the then Hailesellasie I University had a revered
professor in engineering, credited
for the establishment of the
technology faculty at Amist Kilo.
However, the German born Yehuda
Peter (Prof) is remembered for
instilling dreams in his engineering
students, many of whom are in their
60s today.
For over three decades, some of Peter’s students have been turning into
the nation’s finest and most
celebrated engineers. These include
Getachew Tasssew; Tadesse
Hailesellasie and his partner in
Berta Construction, Brehane Abate;
Girma Muluneh (once Addis Abeba’s
chief engineer); as well as Negussie
Tebeje (Prof Em), a prominent
structural engineer.
Peter inspired a generation of Ethiopian engineers to keep alive his
dream and conviction that it is
possible to develop vast tracts of
fertile land in Afar Regional State
and the Ogaden Desert by irrigating
it with a network of canals to
channel the Abay River. This would
require connecting Abay with Awash
and Wabi Shebelle rivers, down in
the Somali lowlands.
These engineers also thought that such a grand project could be of help
to upstream countries because it
would avoid sedimentation and floods
in Sudan, save 10 million cubic
metres of water per year from
evaporating from Aswan Dam, and
retain a significant portion of
unutilised water flowing into the
Red Sea.
Were this project to be implemented, it would have cost a projected
half a billion Birr at the time,
according to one of Peter’s
students.
Find Out More |
Illustration By
Fortune |
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NEWS |
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Central Bank Gives Commercial Banks “Haircut” |
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National Bank of Ethiopia (NBE) issued a new
directive last week, ordering almost all commercial
banks to begin buying saving bills, spending 27pc of
the loan disbursements they have made since July
2010. |
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Gov’t Starts Importing Palm Oil |
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The Merchandise Wholesale & Trade Enterprise (MWITE)
has opened letters of credit (LCs) worth 17.8
million dollars at Commercial Bank of Ethiopia (CBE)
for the first shipment of 12,500tn of palm oil
imported from Malaysia. |
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Development Bank First to Increase Lending Interest |
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Development Bank of Ethiopia (DBE) increased its
lending interest rate of the past five years to
8.5pc for priority sectors and 9.5pc for
non-priority sectors, becoming the only bank to
increase its lending interest rate, last week. |
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Court Grants 10,000 Br Bail Bonds to Leikun+9 |
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Leikun Brehanu, former president of Awash
International Bank (AIB) SC; Mitiku Abush, former
special advisor to Leikun; and eight other
defendants who are charged with an alleged
misdemeanour in handling letters of credit (LCs)
were ordered to pay bail bonds in the amount of
10,000 Br, on Wednesday, April 6, 2011. |
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US Clothing Brands to Scout for Local Producers |
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Amid increasing demand from the international
market, Ethiopia is preparing to become the new
frontier for the textile and apparel industry. Many
buyers from the United States (US) are looking for
local suppliers of new apparel fabrics. |
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Equipment Renter Sues Construction Firm for 2m Br |
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Equibai Yohannes Plc, a construction company, has
been sued for almost two million Birr by Muhito
Legase Endirise Plc, a company renting out
construction equipment, for allegedly defaulting on
payments for the rental of a bulldozer. |
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Court Puts NIB’s Planned Auction on Ice |
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The Supreme Court’s ruling for Legesse Tickeher, former president of
Nib International Bank (NIB) SC, to pay 3.2 million
Br in compensation for a loan he approved that
exceeded his mandate and lacked collateral, was
endorsed by the Cassation Bench on March 18, 2011.
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Despite Diplomatic Glitch, Ashraf Debuts Multimillion Dollar
Complex |
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Ashraf Group, a Sudanese business interest with a
series of agro-industry plants in Bahir Dar Town,
Amhara Regional State, inaugurated its investments
on Monday, April 4, 2011, after almost six years of
them being initiated. |
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State of the Nation |
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Prime Minister Meles Zenawi told Parliament on
Tuesday, April 5, 2011, that the economy is set to
continue with its double digit growth, with this
year’s projected growth pegged at 11.2pc.
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FEATURE |
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Ethiopian Deportees from Yemen Arrive Anxious, Unhappy
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Ethiopian deportees from Middle Eastern countries,
60 of whom came from Yemen, arrived at Bole
International Airport on Monday, April 4, 2011,
after escaping the economic crisis and political
unrest in the region. The returnees, most of them
adolescents and young adults, came back to their
home country dejected and penniless. |
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Cement Factory’s Reign of Pollution |
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Huang Shan Cement Factory, located four kilometres
from Modjjo Town, started operations in June 2009.
However, cement dust caused by the factory has
pervaded the air, affecting not only residents and
farmers in the area, but also visibility, causing
drivers to crash, writes MAHLET MESFIN, FORTUNE
STAFF WRITER. |
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