|
|
| |
|
|
| |
|
|
| |
|
|
| |
| |
|
|
| |
|
|
| |
|
|
|
|
|
Subscribe |
|
 |
|
News
Feed |
|
|
|
|
|
|
|
Column
Feed |
|
 |
|
Facebook |
 |
|
Twitter |
|
|
|
 |
|
|
|
|
|
|
|
Share |
|
|
|
|
|
Meeting of the minds |
 |
|
|
|
Two days before the 18th African
Union Summit comes to a close, Meles Zenawi, prime
minister of Ethiopia (left) and Jacob Zuma,
president of South Africa (right) made a joint
appearance at the New Partnership for African
Development Heads of State and Government
Orientation Committee meeting (NEPAD/HSGOC), held in
the late morning of January 28, 2011. The committee
chaired by Meles Zenawi is comprised of 20 member
states from five regions of the continent.
The meeting had to take place at the
old African Union (AU) Conference Hall, as
inauguration of the new 100 metre-tall AU
Headquarters took place later in the afternoon. The
rest of the events at the summit, which commenced on
January 23 under the theme “boosting Intra-African
Trade,” will be held at the new building.
“Africa is now proclaimed as the
most profitable region,” the South African president
said at the meeting, as he presented a report on the
impelementation of the Presidential Infrastructure
Champion Initiative.
The initiative champions regional
and cross-border infrastructure projects that help
regional economic integration. One planned project
is the Dakar-Ndjamina-Djibouti Road and Rail
Project, which is an east coast to west coast
corridor that passes through Ethiopia. |
|
|
|
NEWS |
|
|
|
|
|
|
|
|
Controversial Karuturi to Go Public, Here |
|
|
|
Karuturi Agro Products Plc, part of holding company
Karuturi Glolabal Ltd, is planning to go public,
floating 200,000 shares worth 1,000 Br each to local
investors, once it gets the nod from its board of
directors. The shares will be short-term, with a
guaranteed annual return of 10pc in dividends.
|
|
|
|
|
|
|
|
Ethiopia Hopes to Launch Construction of Three New Dams |
|
Senior ministers at the Ministry of Water & Energy (MoWE)
are planning to carryout feasibility studies on
three additional hydropower plants to be built in
the basin of the Abay (Blue Nile) River, whose
combined power generation capacity is projected to
be larger than the Grand Renaissance Dam, Fortune
learnt. |
|
|
|
|
|
|
|
|
Banks, Divorcees Exempt from Inclusion in the Lease Regime |
|
Plots under historical holdings are exempted from
inclusion in the lease regime when transferred to
third parties during bank foreclosure of
collateralised properties or when assets are divided
between a divorced couple, a draft regulation
authored by the Ministry of Urban Development &
Construction (MUDC) suggests. |
|
|
|
|
|
|
Taxman Collects 24b Br More than Last Half Year |
|
The nation’s domestic tax mobilisation drive has
seen increases during the last two quarters of the
fiscal year, after tax authorities achieved
phenomenal results, both in the capital and at the
federal level. |
|
|
|
|
|
|
Coffee Exports Roasted in Turmoil Halve |
|
Ethiopia’s flagship export item, coffee, has fallen
into a troubling state of affairs after the nation’s
exporters have failed to pack out even one fourth of
the quantity expected to be sold in this fiscal
year. |
|
|
|
|
|
|
Debre Markos to Get First High-rise |
|
Ambassel Trading House Plc, one of the subsidiary
companies under the umbrella of Endeavour, an
endowment company affiliated with a member of the
ruling coalition, Amhara National Democratic
Movement (ANDM), is to build what will be Derbe
Markos’s first high-rise in the town’s 140-year
history. |
|
|
|
|
|
|
|
City’s Chamber Agrees to Transfer Private Sector Development
Hub |
|
Leaders at the Addis Abeba Chamber of Commerce &
Sectoral Associations (AACCSA)have agreed to
transfer the management of the Private Sector
Development (PSD) Hub to the national chamber,
beginning April 2012. |
|
|
|
|
|
|
|
|
|
Nib Bank Sides with Temenos for CORE Banking |
|
The Swiss-based software developer and vendor,
Temenos Group AG, appears to be marching undeterred
towards dominating the market of the Ethiopian
banking industry. It now has Nib International Bank
(NIB), one of the last remaining banks not
interfaced with the central bank’s National Payment
System (NPS), as its latest client, the fourth bank
to select Temenos for its installation of upgraded
centralised, online, real-time, electronic (CORE)
banking solutions. |
|
|
|
|
|
|
|
|
|
PTA Bank Nods Access Resorts Loan |
|
Access Resorts is hoping to secure a loan of six
million dollars from the Common Market for Eastern &
Southern Africa (COMESA) Bank, a.k.a. Preferential
Trade Area (PTA) Bank, to pay for the renovation and
upgrading of Imperial Hotel, Fortune learnt. |
|
|
|
|
|
|
|
|
|
|
|
|
/FEATURE
Traditional Gardening Morphs into Competing
Landscape Design Business |
|
|
 |
|
With the emergence of a new class of Addis Abebans
who have suburban luxurious villas, including the
number of real estate properties, there emerges a
new set of businesses that has never been taken
seriously. A young breed of landscape designers are
not only beautifying these homes, they are also
making a good living out of it, discovers HADRA
AHMED, FORTUNE STAFF WRITER. |
|
|
|
|
|
|
|
|
|
|
|
|
/FEATURE
Sleek New International Hotel Makes
Efficient Use of Smaller Plot |
|
|
 |
|
Exemplifying the urban facelift that Addis Abeba is
experiencing, a place once known as Five Doors, in
Kazanchis area, welcomes the official arrival of its
newest neighbour. Radisson Blu Hotel, a chain owned
by one of the largest international hotel groups,
has opened its doors in time to welcome participants
of the AU conference taking place next week, writes
ELLENI ARAYA, FORTUNE STAFF WRITER. |
|
|
|
|
|
|
|
/FEATURE
Students, Teachers Suffer from Delayed
University Construction |
|
|
 |
|
Authorities at the federal government are keen to
see and mention statistics that show increases in
student enrolment in schools and colleges across the
nation. Ironically, they may have the statistics the
way they want, but not the graduates with the skills
that the market demands. They come out from colleges
that are pushed to their limits, reports MAHLET
MESFIN, FORTUNE STAFF WRITER. |
|
|
|
|
|
|
|
|
|
|
|
|
|
/FEATURE
Ethiopian Idol Judge Seeks Critique of
Upcoming Album |
|
|
 |
|
Turning the tables, former Ethiopian Idol judge,
Yeshi Demelash, asked an audience to comment on a
handful of songs from her upcoming album. Her first
effort, to be produced in cooperation with Adika
Promotions and Events, will have to live up to a lot
of expectations, she believes, writes
Elleni
Araya, Fortune Staff Writer. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
| |
|
|
