Gold mining promises big boost for Ethiopia's development

Exploiting Ethiopia's gold reserves should increase exports and diversify the economy – if the industry is properly regulated

Thursday 30 August 2012

An engineer gives instructions to a drilling machine operator in the Lega Dembi gold mine in southern Ethiopia. The outlook for many people in Ethiopia seems less than bright following the sudden death of the prime minister Meles Zenawi last week, yet as far as the country's natural resources are concerned, the outlook is golden. Gold reserves could be a source of greater development for the country.

Photograph: Sven Dumelie

Birla Corp Considering Cement Factory in Ethiopia

Friday, 11 June 2012- In its first foreign country investment, Birla Corp is set to erect a cement plant in Ethiopia. The MP Birla group company has already formed Birla Corp Cement Manufacturing Plc, a wholly-owned subsidiary in the East African Country. Previously Birla Corp had tried unsuccessfully and lost to a Chinese company a bid to construct a cement plant for Habesha Cement S.C.

Ethiopia proposes $7 billion budget

Thursday, 07 June 2012The Ethiopian Council of Ministers on Wednesday approved a $7 billion budget for the 2012/2013 fiscal year, the highest the country has ever passed.This is up from the $5.6 billion budget adopted last year. The budget, which has an emphasis on developmental projects, also provides for a subsidy for federal states and will be allocated in accordance with a formula crafted by the Ethiopian Federal House.

Saudi Billionaire's Ethiopia Gold Mine Has 128 Tons Ready

By William Davison - May 30, 2012

National Mining Corp., a closely held company majority-owned by Saudi billionaire Mohammed al-Amoudi, said it has 128 tons of gold ready to be mined at its Okote project in south Ethiopia.

Lifan Launches SUV X-60 Model in Ethiopia

5-30-2012

Addis Ababa, Ethiopia – Lifan launched its latest model assembled in Ethiopia, the SUV X-60. The new model will be the seventh to be introduced by the Chinese company in Ethiopia.

Lifan has already sold 60 of the X-60 in the first weeks it’s been out according to sources within the company.

Dubai Chamber builds commercial ties with Ethiopia

Monday 21, May 2012 Dubai Chamber of Commerce and Industry will open its first overseas representative office in Ethiopia by the end of 2012, the business organisation announced following the successful conclusion of its trade mission to Plans to sign a Memorandum of Understanding (MoU) with the African Union during the Eastern African Community Forum that will be held in Dubai in October, were also agreed during the three-day visit

DuPont to Invest $3 Million in Ethiopia

Monday, 21 May 2012 .DuPont, a US based company, is set to invest more than 3 million US dollars in Ethiopia over the next three years. The company will be investing in seed production and storage facilities as well as developing weed control for wheat farmers and creating a soil information system to deal with limitations in the soil and enhance crop yield.

Addis Ababa, Ethiopia's capital, is set to host the 22nd World Economic Forum, which attracted 700 leaders from business, government, civil society, a

May 7, 2012-(New Business Ethiopia)Addis Ababa, Ethiopia's capital, is set to host the 22nd World Economic Forum, which attracted 700 leaders from business, government, civil society, academia, media and the arts from over 70 countries.  The meeting, which will take place from 9 to 11 is hosted for the first time in Addis Ababa with the support of the Government of Ethiopia, according to the press statement the organizers distributed to the media.