Mining Companies and TAX Face Ban in Eritrea Under Drafted UN Sanctions

October 18, 2011 Eritrea faces tougher United Nations sanctions that would ban companies from investing in the African country’s mineral resources such as gold.“All states shall prohibit investment” in Eritrea’s mining industry and “prohibit the import of gold and other raw materials” from Eritrea, according to a copy of a draft resolution introduced by Gabon, one of three African nations on the UN Security Council. Eritrea’s $2.59 billion economy relies on mining. Gold has drawn investment from companies including Canada’s Nevsun Resources Ltd.Another resource is the money sent back by Eritreans living abroad.

The Long Procces, the complete Demise of Glass-Steagall Act!!!!

Following the Great Crash of 1929, one of every five banks in America fails. Many people, especially politicians, see market speculation engaged in by banks during the 1920s as a cause of the crash.

In 1933, Senator Carter Glass (D-Va.) and Congressman Henry Steagall (D-Ala.) introduce the historic legislation that bears their name..., seeking to limit the conflicts of interest created when commercial banks are permitted to underwrite stocks or bonds. In the early part of the century, individual investors were seriously hurt by banks whose overriding interest was promoting stocks of interest and benefit tothe banks, rather than to individual investors. The new law bans commercial banks from underwriting securities, forcing banks to choose between being a simple lender or an underwriter (brokerage). The act also establishes the Federal Deposit Insurance Corporation (FDIC), insuring bank deposits, and strengthens the Federal Reserve's control over credit.

Djibouti Linked to Ethiopian Power Grid

Wednesday, 12 October 2011 Leaders from Ethiopia and Djibouti inaugurated the substation linking Djibouti to the Ethiopian power grid on Wednesday. It was described as a milestone in linking the economies of the two countries by Meles Zenawi, Prime Minister of Ethiopia. More than 90% of the project was financed by loans and grants from the African Development Bank (AfDB). The project is thought to be very crucial to Djibouti which generated energy from diesel generators.

Ethiopia to Import Japanese Jackhammers

Monday 10 October 2011 Ethiopia: Baraton Trading P.L.C signed an agreement with Furukawa, a Japanese company, to import hydraulic breakers and rock drills.
The deal is expected to ease the problems faced by Ethiopian contractors to obtain the construction materials. It is expected that Furukawa will deliver 20 units of hydraulic drills and 19 units of rock drills by December. Baraton Trading P.L.C is required to fill a sale quota for the units. Local rental and construction companies have already purchased some of the units on offer. Baraton Trading has invested 9 million birr to supply spare parts for the machines which will be delivered by the end of November. This is expected to ensure that spare parts shortages faced by previous importers of Furakawa products will no longer be an issue.

Derg Officials released from jail

Addis Abeba, 10-5-2011 Among the 23 Derg higher officials, who were convicted for crime against humanity and put into jail from life imprisonment to death penalty, 16 of them was released yesterday from Kaliti penitentiary Facility.

Those 16 Derg higher officials convicted of crime against humanity and jailed for the past 20 years was freed on parole.

Of the freed higher officials, the former Derg Prime Minister, Major Fikire Sillasie Wegderes, Vice President, Colonel Fiseha Desta, Major Legese Asfaw, Colonel Endale Tesema, Major

Condolence: United Tegaru Youth Network (UTYN)

Letter of Condolence

There are few moments in our life when we are speechless and this week will forever leave an imprint of sorrow and pain in our hearts and minds due to the recent tragic death of nine members of the Tigray Police Orchestra. Words alone can not express how shocked and saddened we are.

Nine Ethiopian band members killed, 17 injured

Ethiopia has been plunged into mourning after nine artists were killed and 17 seriously injured in a car accident.

Police said the accident happened on Monday in the Amhara region while the artists were travelling to South Sudan for a concert that was scheduled for this weekend.

Ethiopian defense force honored for outstanding contributions

Addis Ababa, Friday, 23 September 2011 - Interfaith Peace Building Initiative, an organization working on peace, honored the Ethiopian Defense Force for its outstanding contributions to world peace. The Initiative on Wednesday marked World Peace Day for the 9th time. In its 36th general assembly 30 years ago, the United Nations unanimously designated September 21st for World Peace Day. Interfaith Peace Building Initiative which has an observer position in the United Nations has been celebrating the day with various assortments for eight years now.

PM Meles arrives in Cairo, Egypt

Addis Ababa, September 17, 2011 - Ethiopian Prime Minister Meles Zeinawi arrived on Friday in Cairo on a visit to Egypt, the first since Egypt's 25th of January revolution.

Meles is scheduled to hold talks with the Head of the Supreme Council of Armed Forces Field Marshall Hussein Tantawi and Prime Minister Essam Sharaf who was at the airport to receive him.

Ethiopian Security Arrests Several Terrorist Red Handed

Addis Ababa, Saturday, 17 September 2011 – The Federal police said that it has adequate evidence against the terrorist suspects arrested this week maintaining that the arrests are not politically motivated.The Federal Police and the National Intelligence and Security Service Anti-terror Joint Taskforce arrested five individuals early this week.

Stratex discover more gold in Ethiopia

Addis Ababa, September 6, 2011 - Stratex International, the AIM-listed gold miner, discovered more gold from drilling at its Megenta hot spring epithermal gold discovery within its exclusive exploration license at Tendaho in the Afar State. These include high grade intersection of 19.50 g/t Au over 0.70 metres in hole MG-DD-12 with the potential for bonanza grades veins. These occurred within zone of 4.49 g/t Au over 3.25 metres about 70 metres below surface and extend the target zone 460 metres along concealed graben edge. The priority target zone at Megenta now extends over 3 km. The company has completed the 3,000 metre 14-hole scout drilling programme at Megenta and it is now

Tuesday, 06 September 2011
Addis Ababa, September 6 (WIC) - Stratex International, the AIM-listed gold miner, discovered more gold from drilling at its Megenta hot spring epithermal gold discovery within its exclusive exploration license at Tendaho in the Afar State. These include high grade intersection of 19.50 g/t Au over 0.70 metres in hole MG-DD-12 with the potential for bonanza grades veins. These occurred

Anti-Slavery International and the U.S.-based CNN raising money for Shweyga Mullah.

SeAn international rights group is raising money to help a disfigured Ethiopian woman who says she was tortured by a relative of Libya's Moammar Gadhafi.

September 2, 2011-Anti-Slavery International and the U.S.-based CNN television network are raising funds for the treatment of Shweyga Mullah.

BBC HardTalk - Alison Evans and Dambisa Moyo Debate

I watched yesterday the show called BBC HardTalk - Alison Evans and Dambisa Moyo
I enjoyed the video, hence here my account or perspective on this matter.

The guests in Hard Talk both Alison Evans and Dameso Moti raise very good points.

The host of the show raise the question the IMF is planning to cut aid by 30%.

Patriots all set to mark the fourth national Flag Day

Addis Ababa, Tuesday, 30 August 2011 – The Ethiopian Patriotic Association said its members are all set to commemorate the fourth national Flag Day.iketeguhan Astatke Abate, president of the association, said it is important for the nation’s patriots to attend the commemoration ceremony which will be held on September 26, 2011.

Prime Minister Meles Zenawi said Ethiopia has managed to contain the humanitarian crisis

Addis Ababa, August 26 , 2011 – Prime Minister Meles Zenawi said Ethiopia has managed to contain the humanitarian emergency caused by the drought in the Horn of Africa region. The Prime Minister made the remark yesterday in a statement he delivered during the African Union Pledging Conference held to help raise funds for the worst drought to hit the region in sixty years. “I am pleased to report that at the moment we have managed to contain the humanitarian emergency in our country,” Meles said in his statement to African Heads of States and

Ethiopia and Nigeria on recognized Libya's National Transition Council (NTC)

Addis Ababa, Thursday, 25 August 2011 – Ethiopia and Nigeria on Wednesday recognized Libya's National Transition Council (NTC) as the country's legitimate authority. “In the interest of peace and stability, and wellbeing of the people of Libya, the governments of Ethiopia and Nigeria have decided to jointly recognize the NTC as the interim and legitimate authority in Libya,” a statement issued here on yesterday by Deputy Prime Minister and

Ethiopia gets a record US$1.5 billion from Diaspora

MONDAY, 22 AUGUST 2011-Ethiopia received a record US$ 1.5 billion from its citizens abroad during the just ended 2010/11 fiscal year, data released by the National Bank of Ethiopia (NBE) has revealed.The figure, which represents money sent by Diasporans through banks, represents an 88 per cent growth from the previous year.But officials believe money running into millions of dollars is sent through illegal channels and cannot be accounted for. During the 2009/209 financial year,

USAID praises Ethiopia's effort to ensure food security to its people

8-17-2011-USAID Deputy Administrator Gregory Gotlied praised Ethiopia's effort for food security during an interview with the Voice of America Amharic Program. The director said, the situation in Ethiopia is no where as dire as what is the case in Somalia. He went on to say there is no famine in Ethiopia.

X-ray machines from Eugene to improve clinic in Ethiopia

EUGENE, Ore. 8-17-2011 - Dr. Fikru Heramo sees up to 250 patients per day at a medical clinic in Ethiopia.When they need an x-ray, he has to send them to another clinic many miles away. “We don't have x-ray equipment, and having x-ray equipment in Ethiopia is tough,” said Heramo. That is all about to change. Heramo was in Eugene this week at Slocum Center. Slocum is donating their old x-ray machines to the Mother and Child Health Center in Shinshicho, Ethiopia, where Heramo is the medical director. Slocum is moving to digital x-ray. Instead of throwing away their machines, they will donate them to the clinic overseas. “We found that there was a child and mother clinic being constructed in Ethiopia that was in need of many resources including x-ray equipment which they never thought they would be able to purchase,” said Dr. Thomas Wuest of Slocum. Slocum worked with Holt International to donate the machines. Holt International is currently expanding and building additions to the Shinshicho Health Center. The x-ray machines will improve services at the clinic, Heramo said. “They'll be able to receive better treatments and better care, and definitely it’s an absolute necessity for the center,” he said. He expects the number of patients to increase after the x-ray machines arrive at his medical center. Slocum and Holt International will be sending the x-ray machines after the Shinshicho Health Center is finished with renovations.The expected date is early 2012.(http://www.kval.com)

Ethiopia, Mitsubishi Corporation sign MoU for provision of solar systems for RCBP

Addis Ababa, August 17 – A Memorandum of Understanding (MoU) was signed between Mitsubishi Corporation and Ministry of Agriculture for the “Provision of Solar Systems for Rural Capacity Building Project (RCBP)”. The project is supported under the scheme of International Contribution Programs which will be implemented by the Ministry of Agriculture. Agriculture State Minister, Sileshi Getahu and Corporation Executive Vice President, Regional CEO for Europe, CIS, Middle East and Africa Tetsuo Terada signed the MoU on Tuesday August 16, 2011. According to a statement the Embassy of Japan sent to WIC today, the solar power systems are designed to have the capacity to supply power for computers, printers, TV, DVD players and electric lamps at the Farmers Training Center in the said two Kebeles.
These solar power systems will enable the farmers to receive training with audio visual materials. Following the request from the Ministry of Agriculture, the Mitsubishi Corporation made similar contributions in 2009 and 2010 in two “Kebeles” in the Oromia and Amhara States.Mitsubishi Corporation has been operating in Ethiopia for over 50 years, engaged in several business activities including import and export of various commodities, execution of grant projects financed by the Japanese government, and investment in the market..(waltainfo)

Gov’t food aid system successful to prevent famine: PM Meles

Addis Ababa, August 17 - Prime Minister Meles Zenawi said that the food aid system that was introduced by the government of Ethiopia to prevent famine has been successful. The Premier said in an exclusive interview with ERTA on Tuesday August 16, 2011 that the aid system has played a major role in preventing famine, though there is drought in some parts of Ethiopia. Due to inadequate ‘Kiremt’ and absence of ‘Belg’ rains, drought has occurred in the peripheral areas of eastern and southern Ethiopia, which are mainly pastoralist areas. The situation has left 4.5 million Ethiopians in need of emergency food aid. The government is currently working together with non-governmental organizations in providing food aids to these areas. This has made it possible to contain the situation before causing loss of lives. The U.N. declares a famine when certain criteria exist in an area. These are when acute malnutrition rates among children exceeds 30 per cent; when more than two people per every 10,000 die per day; and when people are not able to access food and other basic necessities. Meles said, based on these criteria, there has been no famine in Ethiopia in the past 20 years, adding, this is because the government has put in place a successful food aid system which some hardly accept. Certain parties are mistakenly associating this drought situation in Ethiopia with the current famine in Somalia. According to Meles, this emanates mainly from two reasons. The first one is the need to gather as much as possible aids by institutions and non governmental organizations working in the area of food aid, by using the situation.
The premier stated, the second reason as a motive which emanates from political aim to exaggerate the country’s need of aid, thereby mar the image of Ethiopia, Meles said. He said though it is not possible to stop the drought, it would be possible to make citizens not to rely on aid by utilizing irrigation and other mechanisms in those drought affected areas.Increasing agricultural productivity in other areas of the nation would also help to overcome the problem within the capacity of the nation, Meles noted. (ERTA)

Ethiopia has good record of using aid properly: FAO Director-General

Addis Ababa, 13 August 2011 -Deputy Prime Minister and Minister of Foreign Affair, Hailemariam Desalegn on Friday, August 12, 2011 held discussion with FAO Director-General, Dr. Jacques Diouf.The two officials discussed on the current situation in the Horn of Africa in general and Ethiopia in particular. Dr. Diouf on the occasion commended Ethiopia’s aid use. “Ethiopia has a good record of managing aid properly and using it for the intended purpose,” he said.Due to its efficient use of aid, the country is getting more and more supports from the international community, he added.
Dr. Diouf further expressed his concern about the current economic crises, increase in food prices and volatility emerged in various parts of the globe.“We have a long way to go so as to ensure food security particularly in developing countries by increasing agricultural productivity,” he underscored.Dr. Diouf also appreciated the Ethiopian government for providing shelter for the Somali refugees sheltered in various refugees camps.Hailemariam on his part expressed Ethiopia’s willingness to work hand in hand with FAO so as to increase agriculture productivity in the country.(waltainfo.com)

UN Council to Target Eritrea With Sanctions on Mining and 2% Tax

Addis Abeba, 8-5-2011 Eritrea, one of the world’s poorest nations whose citizens earn just over a $1 a day, may face tougher United Nations sanctions targeting the mining and remittances that keep its economy afloat.
Neighboring Ethiopia and Djibouti are urging the 15-member UN Security Council to impose sanctions on Eritrea’s mining and outlaw a 2 percent tax on remittances, according to a diplomat who spoke on condition of anonymity. Ethiopia and Djibouti want one of the council’s three African members -- Gabon, Nigeria or South Africa -- to introduce the measure, the diplomat said.
The latest push to punish Eritrea was triggered by a UN report last month that said Eritrea’s government planned a failed plot in January to disrupt the African Union summit in Addis Ababa by bombing civilian and governmental targets.
Eritrea’s $2.59 billion economy depends on mineral resources such as gold, which has drawn investment from companies including Canada’s Nevsun Resources Ltd, and on money sent from Eritreans living abroad. There is concern that further economic sanctions may hurt more than 5 million people living in poverty, the diplomat said.
A July 18 UN report said the tax on remittances is the “most significant source of revenue” for the government, and estimated the income to be “tens, possibly hundreds of millions of dollars on an annual basis.” The government, through a joint gold-mining venture with Vancouver-based Nevsun, has “started to receive royalty payments worth millions of dollars,” the report said.
Current UN Sanctions Eritrea has been ruled by President Isaias Afeworki, a former rebel leader, since it gained independence from Ethiopia in 1993. The UN has already sanctioned the country in the Horn of Africa for supporting al-Qaeda-linked terrorists fighting to topple the Western-backed government of Somalia. The current sanctions include an asset freeze and a travel ban on government leaders.
Al-Shabaab, a Somalia-based terrorist organization that the U.S. says has links to al-Qaeda, generates between $70 and $100 million a year in revenue from taxation and extortion in areas under its control, according to the UN report.
Eritrea’s UN Ambassador Araya Desta said the initiative was part of an effort to overthrow his government, with a “hidden agenda to have a way out” to the Red Sea for land-locked Ethiopia.
“What they are proposing as far as economic sanctions is totally unacceptable and ridiculous,” Desta said in an interview. “Eritrea has nothing to do with any of their accusations. What they are doing is a resolution drafted by Ethiopia to damage the economy and isolate Eritrea politically and diplomatically.”
He said Ethiopia and Djibouti should take their issues to the African Union Peace and Security Commission rather than the UN Security Council.
Islamist groups including al-Shabaab and the Hisb-ul-Islam movement, previously based in Eritrea, have gained control of most of southern and central Somalia in their bid to oust President Sheikh Sharif Sheikh Ahmed’s UN-backed transitional government. Somalia hasn’t had a functioning central administration since the removal of Mohamed Siad Barre, the former dictator, in 1991.
U.S.-backed Ethiopian troops invaded Somalia in December 2006, ousting the Islamic Courts Union government that had briefly captured southern Somalia. The troops withdrew in January.(bloomberg)

Ethiopian billionaire wins libel action in UK

London, 7-30-2011 An Ethiopian-born billionaire has won £175,000 in libel damages over allegations he had hunted his daughter down so she could be stoned to death.
Mohammed Hussein Al-Amoudi was born in Ethiopia, but now spends his time at homes in central London, Surrey and Saudi Arabia.The article was published on the online news website Ethiopian Review.Judge Richard Parkes QC said it was difficult to imagine more serious allegations.The site's publisher and editor-in-chief, Elias Kifle, had denied liability.The judge said that instead of apologising Mr Kifle had repeated the libel and abused Mr al-Amoudi and his lawyers.The High Court in London heard Mr Kifle's response to the initial complaint was: "Here is my formal statement: Screw yourself".The court heard Mr Kifle then went on to describe Mr al-Amoudi as a "scumbag bloodsucker" who was "funding al-Qaeda".Mr al-Amoudi, 65, gave evidence during the libel trial that he was completely opposed to all forms of terrorism.
The judge said the site alleged that Mr al-Amoudi had "disgracefully and callously" married off his daughter Sarah, then 13, to an elderly member of the Saudi royal family as a gift. 'Wholly untrue' The article went on to claim that Mr al-Amoudi was probably responsible for murdering his daughter's lover in Iraq and had hunted his daughter and granddaughter across London in an attempt to ensure they were stoned to death in Saudi Arabia. Mr al-Amoudi told the court he was horrified by the "wholly untrue" article which could be seen by visitors to the website between January and August 2010, when it was finally taken down.Mr al-Amoudi, who has a son and seven daughters, said he had a normal relationship with Sarah, who was not married.
e said she had completed a business administration degree in the UK. Assessing damages, the judge said: "The claimant is not, I judge, a man who wears his heart on his sleeve."But his distress as he described the effect of the article on himself and on his family was evident to me, and the more so because, as it seemed to me, he was doing his best to preserve his composure."Mr al-Amoudi, who was in the top 50 of Forbes magazine's 2009 rich list, is believed to have made his money in construction, oil refineries and mining.Mr al-Amoudi, who is of mixed Ethiopian and Arab heritage, is sometimes described as the world's richest black man.He was recently reported to be financing the building of Saudi Arabia's first car factory.(bbc news)

Exclusive: Eritrea behind AU summit attack plot, U.N. says

NAIROBI July 28, 2011- Eritrea was behind a plot to attack an African Union summit in Ethiopia in January and is bankrolling al Qaeda-linked Somali rebels through its embassy in Kenya, according to a U.N. report.

A U.N. Monitoring Group report on Somalia and Eritrea said the Red Sea state's intelligence personnel were active in Uganda, South Sudan, Kenya and Somalia, and that the country's actions posed a threat to security and peace in the region.

"Whereas Eritrean support to foreign armed opposition groups has in the past been limited to conventional military operations, the plot to disrupt the African Union summit in Addis Ababa in January 2011, which envisaged mass casualty attacks against civilian targets and the strategic use of explosives to create a climate of fear, represents a qualitative shift in Eritrean tactics," the report obtained by Reuters said.

The plan was to attack the AU headquarters with a car bomb as African leaders took breaks, to blow up Africa's largest market to "kill many people" and attack the area between the Prime Minister's office and the Sheraton Hotel -- where most heads of state stay during AU summits.

The U.N. said while past Eritrean support for rebel groups in both Somalia and Ethiopia had to be seen in the context of an unresolved border dispute with Addis Ababa, the new approach was a threat to the whole of the Horn and east Africa.

"The fact that the same Eritrean officers responsible for the planning and direction of this operation are also involved, both in supervisory and operational roles, in external operations in Djibouti, Kenya, Uganda, Somalia and Sudan implies an enhanced level of threat to the region as a whole."

Asmara has repeatedly denied any involvement in funding rebel groups in the region. In June, it rejected claims it had anything to do with the Addis Ababa bomb plot as "nonsensical remarks" with no legal basis.

No official comment was immediately available from the Eritrea government on the U.N. report.

The U.N. has slapped an arms embargo on the Red Sea state, as well as a travel ban and an assets freeze on Eritrean political and military leaders who it says are violating an arms embargo on Somalia.

"MAKE ADDIS ABABA LIKE BAGHDAD"

Ethiopian intelligence officials uncovered the plot to set off multiple bombs in Addis Ababa at the AU summit, an event typically attended by more than 30 African leaders, in January this year.

The U.N. report said all but one of the people arrested received all their training and orders directly from Eritrean officers. The other detainee was also in regular contact with an Ethiopian rebel group, the Oromo Liberation Front (OLF).

"Although ostensibly an OLF operation, it was conceived, planned, supported and directed by the external operations directorate of the Government of Eritrea, under the leadership of General Te'ame," the report said.

The equipment seized included C4 plastic explosives in food sacks, gas cylinders, detonators and a sniper rifle.

General Te'ame told one of the plotters that the plan was to make "Addis Ababa like Baghdad," according to the report.

However, in an interview with U.N. investigators, one of the men arrested, Omar Idriss Mohamed, said the aim was not to kill African leaders but to show them that Ethiopia was not safe.

"By so doing, some people may start to listen to what Eritrea is saying about Ethiopia. Some Arab States will be sympathetic to this view," he was quoted as saying.

According to the U.N. report, Omar is an OLF member who was approached by the Eritrean security services though Colonel Gemachew. Omar, who visited Eritrea in 2009 and 2010, became the Addis team leader for the plot.

The U.N. report included a letter from Romania confirming a sniper rifle found in the possession of one of the bomb plotters had been sold to Eritrea in 2004.

The report included slips showing payments to the plotters in Addis Ababa through money transfers. The plotters told the U.N. that an Eritrean colonel had arranged for the transfers via intermediaries in Sudan and Kenya.

Ethiopia routinely accuses Asmara of supporting rebel groups. In a shift of policy, Prime Minister Meles Zenawi declared in April it would support Eritrean guerrillas fighting to overthrow President Isaias Afewerki.

The report also included copies of payments slips from Eritrean officials in Kenya's capital Nairobi to known members of Somali rebel group al Shabaab. It said the payments were to the tune of $80,000 a month.

"The Monitoring Group has obtained documentary evidence of Eritrean payments to a number of individuals with links to al Shabaab," the report said.

"The documents obtained were received directly from the embassy of Eritrea in Nairobi, including payment vouchers marked 'State of Eritrea'," the report said.

"The embassy of Eritrea in Nairobi continues to maintain and exploit a wide network of Somali contacts, intelligence assets and agents of influence in Kenya." (Reuters)

Indian enterprise to set up $30 mn cancer centre in Ethiopia

Ethiopia, 7-25-2011 An Indian healthcare enterprise plans to construct a cancer care centre in Ethiopia at a cost of over $30 million. Dinesh Madhavan, marketing director of HealthCare Global Enterprises (HCG), an Asian cancer care network which is headquartered in India's Bangalore city, said the construction of the centre will help cancer patients in Ethiopia to get better treatment.

Madhavan said the enterprise will train and educate doctors, nurses and paramedical staff in the latest advances in treatment and management of cancer. HCG focuses exclusively on cancer in India.

HCG's vision is to make high quality cancer care accessible by adopting global innovations to all segments of the society, he said.

An agreement was reached between HCG and the African Union to start cancer care treatment through video conferencing in all member states two years ago, said Madhavan who added that the enterprise has started providing cancer care through videoconferencing in the Black Lion Specialized Hospital in Ethiopia.

Not just in healthcare, India is a leading private sector investor in Ethiopia with investments of $4.35 billion. Over 450 Indian companies are currently operating in Ethiopia.

Indian investors are now being engaged in various sectors, from flower market and agriculture sectors they have moved to manufacturing, agro processing, information technology (IT) and other sectors.

Sridhar P.S., an Indian doctor from HCG who is on a mission to help treat cancer patients in the country, said that Ethiopia has a huge number of breast cancer patients.

"We are here to treat cancer patients with new technology that can scan the entire body. We can detect cancer in its early stages which increases the chance for a cure," Sridhar said.

Sridhar, who is on his second visit to Ethiopia, told IANS: "The reason we came here is that cancer patients should not go from place to place for treatment unless special medication is required. Cancer is very painful. Traveling abroad for people traumatised by cancer is a double burden. It is good if the specialist comes to them."

"Brain tumors and prostate cancer in men above the age of 55 and uterus cervical cancers in women are common in Ethiopia. The cure is possible if identified in the early stage. For this we need to educate the people to get checked time and again," he added.

Cervical cancer ranks as the most common cancer among women in East Africa. It also causes a higher mortality rate in the region.

Explaining how HCG treats people regardless of their ability to pay, Sridhar said: "In India we don't let people go back untreated if they don't have the money. Primarily all patients are patients regardless of their income. They must get the treatment at any cost. There is the credit system in which people pay in an installment basis. So we have to establish that kind of arrangement for patients."

HCG's vision here is to provide use of new technologies like installing radiation treatment and establishing Intensity Modulated Radio Therapy (AMRT). With targeted treatment, radiation and targeted therapy, it is possible to make cancer a controllable disease.

WHO figures indicates that cancer causes about 12.5 percent of all deaths worldwide, this is more than the productive life lost from HIV/AIDS, tuberculosis and malaria combined. New cases are expected to double within the next 20 years.

Sridhar says cancer can be tackled in Africa. The establishments of cancer centres provide affordable treatment and follow up will help alleviate the problem.

The doctor's advice: Please get screened for cancer now. If something is detected, it is better to find it in the early age rather than later.(http://www.hindustantimes.com)

Over 43 Eritrean afar youths defect to Yemen

Addis Ababa, Wednesday, 20 July 2011) – More than 43 Eritrean youths have reportedly defected to Yemen on July 14, 2011, Red Sea Afar Democratic Organization (RSADO) said. According to a statement RSADO sent to WIC, 13 of the youths are from the Eritrean navy forces while military members and civilians make up the remaining. The individuals were detained by the Eritrean government and defected upon their release on bail, the statement sent to WIC disclosed. “They were forced to take boats to cross the Red Sea fearing persecution and killing by the Eritrean government,” the statement issued by RSADO said. The organization accuses the Eritrean government for what it claims as a wide range of persecutions, tortures and killings of its own citizens forcing many to flee the country. RSADO alleged that the Eritrean government is negotiating with the Yemeni counterpart for the return of the defectors. “We appeal to the international human rights activists to intervene and save their lives,” the statement pleaded. “If the refuges stationed in Yemen are to return, they will face killings, torture by the government of Eritrea”. Due to intensified persecutions by the Eritrean government more than 80 Eritrean afar nationals had fled to Yemen between June and July 2011, RSADO disclosed. The statement, which included the names of 31 individuals between the ages of 20 to 25, called upon the United Nations High Commissioner for Refugees (UNHCR) to assist Eritreans in Yemen.(waltainfo.com) 

Petroleum exploration in Ethiopia on the rise: Study

Addis Ababa, Tuesday, 19 July 2011 – A study conducted by the Ministry of Mines (MoM) revealed that natural gas and oil exploration in the country is on the rise in recent times.   The study was presented during a symposium organized by the ministry at the conclusion of a three day exhibition that showcased Ethiopia’s mining development potentials. A 4,000 km seismic study and 100,000 Km airborne gravity and magnetic survey have been conducted so far, according to the study presented by Ketsela Tadesse (PhD), petroleum licensing and administration core process owner at MoM.nIncluding earlier natural gas discoveries in Kalub (2.7 trillion cubic feet (tcf)) and Hilala (1.3 tcf) in the eastern part of the country, a 0.766 tcf natural gas is discovered around Genale, the study revealed. Since 2005, the Mom has signed 11 petroleum profit sharing agreements and one joint survey agreement with eight international companies. Africa Oil Corporation, Calvalley petroleum Inc, South West Energy, Pexco Exploration, Tullow Oil, Epsilon Energy Ltd, Falcon Petroleum and Afar Exploration Company are engaged in exploration in the country. There are six sedimentary basins in Ethiopia, including the biggest and most explored basin of Ogaden (350,000 sqm), Abay basin (100,000 sqm), Southern Rift basin (30,000 sqm), Gambella basin (16,000 sqm), Mekele and Metema basins (10,000 sqm each). Several research papers on the country’s mining potential and investment opportunities were presented during the half day symposium held at Intercontinental Hotel, which was attended by Sinkinesh Ejigu, Minister of Mines.
 According to the minister the research papers have been presented to the international audience on different occasion but it was the first time when presented to the national audience.(waltainfo.com)

Ethiopia earns 175 Mln USD from gold, tantalum export

Addis Ababa, Monday, 18 July 2011 - Ethiopia earned 175 million dollars from the export of 3.6 tonnes of gold (153 million dollars) and 187 tonnes of tantalum (22.5 million dollars) in the fiscal year to 7 July 2011.  All the gold was exported by MIDROC Gold, a subsidiary company of MIDROC Ethiopia, Gebregzabher Mekonnen, mining licensing and supervision core process owner with the Ministry of Mines, said. According to Gebregzabher, the Ministry of Mines collected 104 million birr in royalty fees 98 million birr of which was paid by MIDROC Gold. The ministry granted this year 54 licences for mineral exploration. Three quarters of the licences are for the exploration of gold. The sole producer of tantalum in Ethiopia is the Ethiopian National Minerals Development Enterprise whose exploration site is at Kenticha, Borena.  Artisanal miners also produce tantalum in the Borena Zone. MIDROC Gold has discovered a new gold reserve around Metekel in the Benishangul Gumuz Regional State. In a related development, artisan miners produced and supplied about 7,000 kg of gold to the National Bank of Ethiopia in the fiscal year to 7 July 2011. The amount has increased by 144 percent from their output of 2,866kg of gold the previous fiscal year according to Sinkinesh Ejigu, Minister of Mines. (waltainfo.com)

S. Korean President hails Ethiopia’s economy as ‘model for Africa’

Addis Ababa, July 15,2011 – South Korean President Lee Myung-bak picked Ethiopia as a country that would be a model economy for other African countries in the near future.President Lee made the remark in a speech aired Wednesday through the radio and internet after returning to Seoul wrapping up visits to South Africa, Ethiopia and the Democratic Republic of the Congo.The South Korean news agency, The Korea Times, quoted the president as saying: “The Ethiopian government and the people are anxious to achieve prosperity”.Lee cited what Ethiopian Prime Minister Meles Zenawi had said during their summit talk that no advanced countries know how shameful Ethiopians feel when forced to ask for help.In order to differentiate South Korea Lee pointed out the nation was an aid recipient country, which became a donor onlytwo years ago.He hinted that Korea understands the situation of poor nations and how they can be self-reliant better than any other government.“Our strategy is that we will follow our own path to provide assistance to them,” Lee said. “As weunderstand the sense of shame they may feel when asking the outside world for help, we will be humble when lending our helping hands”.His remarks came amid Korea’s focusing on “a land of opportunity” for energy diplomacy.“Forget all the myths and preconceptions about the old Africa and prepare for the emerging continent,” President Lee said.Lee pledged that Korea will use a tailored approach to foster stronger ties with Africa which has enormous growth potential.“Africa today is not a war-torn or poor continent. It has a population of one billion with rich natural resources. I witnessed the rise of the large continent during my trip,” he said.“When it comes to the timing of forging a partnership with Africa, South Korea is a late starter, compared with China and other advanced nations,” said Lee.His remarks came against the backdrop of Africa’s heavy reliance on foreign aid, though massive economic assistance has been flowing into the continent.In the past, advanced countries have bolstered ties with resource-rich nations by providing foreign aid and economic assistance but it has not changed the economic reality in Africa. (The Korea Times)

Tigray investment office licenses 597 businesses with 14 bln br capital

Addis Ababa, Monday, 11 July 2011 – Tigray Regional State Investment office said it has issued investment license to 597 local and foreign investors with a combined capital of over 14 billion birr this budget year. Compared to the performance of last budget year, this year’s performance showed an increase of nearly 20 percent. According to Moges Mesfin, investment work process owner of the office, business projects have shown a six percent increase while capital soared by over 127 percent. Moges told WIC that the investors are especially engaged in agriculture, construction, hotel and tourism, industry and social service sectors. “The projects have created job opportunities to over 54,851 people,” Moges said.(waltainfo.com)
 

Ethiopian expects Boeing 787 jet delivery in March

Addis Ababa,Thursday, 07 July 2011 - Ethiopian Airlines expects to receive delivery of Boeing Co.'s (BA) new 787 Dreamliner passenger jets in March 2012, Fikre Degife, the carrier's regional director for China, said Thursday.Speaking at an aviation conference in Shanghai, Fikre said the delivery had been delayed from December as originally scheduled but "we expect them to come in March.”The African carrier has ordered 10 787s, of which four were expected in December, Fikre said.He said the aircraft would be used on routes to China and Europe."It will give us the capability to have direct flights into China. It is a long-range aircraft," Fikre added.
Source: Wall Street Journal

Korean president to arrive here tomorrow

Addis Ababa,Thursday, 07 July 2011 – South Korean President, Lee Myung-bak and his delegation will arrive in Addis Ababa for a three-day official visit.This will be the first visit to Ethiopia by South Korean President in nearly 30 years.President Lee will meet with Ethiopian Prime Minister Meles Zenawi and expected to discuss and share Korea's development experience, green growth strategies, agricultural collaboration, economic and trade cooperation as well as resources development.On July 9, 2011, the president will visit Addis Ababa University and meet with president of the university as well as plant seedlings on the university’s premises.
President Myung-bak will also deliver a speech to ministers, ambassadors and other invited guests at the Faculty of Business and Economics (FBE) Hall.One of the highlights of the event will be the conferring of honorary degree on the South Korean president by the Addis Ababa University. (waltainfo.com)

Ethiopia continued to register the fast growth as it has for the last five years

In 2010/11, Ethiopia continued to register the fast growth as it has for the last five years. Gross domestic product (GDP) growth in 2010 (2009/10) remained strong at 8.8%. Growth is driven by the service sector (14.5%), followed by the industrial (10.2%) and agricultural (6%) sectors. Except for a rebound in fishing, the rest of the agricultural sub-sectors remained fundamentally unchanged from their levels in 2009. The service sector’s leading role is due to hotels and restaurants, financial intermediation, public services and real estate. The country continues to struggle with the macroeconomic challenges of high inflation and very low international reserves. The government’s five-year Growth and Transformation Plan was launched in 2010/11. If it is successful, the prospects for 2011 and 2012 are likely to be as positive as in 2010. The plan calls for the agriculture sector to become the major source of economic growth. Industrial growth will also be given particular attention. The government intends to promote industrialisation through increased exports and import substitution. The economy is projected to grow at an average annual rate of 10% in 2011. The agriculture sector is expected to grow by 8.1% while industry and services are expected to show an average annual growth of 20 and 11% respectively during the planned five-year period of the government.

In 2010, although growth remained strong, macroeconomic management was problematic because of the rising level of inflation and a sharp depreciation of the national currency. The government managed to contain inflation through a combination of monetary instruments, i.e. the contraction of credit and money supply growth. The government devalued the national currency by 20% in 2010 with the aim of boosting exports and raising the level of external reserves. The government intends to use monetary policy to keep inflation below 10% starting in 2011 and through the duration of its five-year plan.

Following a drop in merchandise exports in 2009 due mainly to the global economic crisis hitting demand for key traditional export commodities, exports began to bounce back slowly in 2010. Imports remained strong in 2010 at 27.2% of GDP. The government projects this figure will grow to between 30 and 35% of GDP per annum by 2015. The result is a large trade and balance-of-payment deficit. The current account balance is expected to worsen from about minus 6.4% of GDP in 2010/11 to minus 11.9% in 2011/12.

The private sector is confronted with a number of challenges including: i) a poor business environment; ii) a poorly performing judicial system that fails to address property rights and weak corporate governance; iii) a relatively undeveloped financial system; and iv) a challenging macroeconomic environment. The government has attempted to address some of these issues by passing a competition law, setting up a public-private partnership forum and attempting to control inflation in 2010. However, the large devaluation in 2010 and the introduction of price controls on 18 goods designated as “basic” at the beginning of 2011 have led to confusion in the market.

The election held in May 2010 was generally peaceful. The ruling EPRDF claimed to win all but two seats in parliament – thus controlling 99% of the Parliament. Many in the opposition have complained about the lack of political space and intimidation of their supporters by the government. Political tensions in the region remain high because of insecurity in Somalia and the uncertainty associated with the future relations of North and South Sudan following the secession of South Sudan, with which Ethiopia enjoys friendly relations so far. The Ethiopian-Eritrea border dispute remained unresolved in 2010.

Despite limited success in institutionalising democratic governance, the Ethiopian government demonstrated impressive achievements in social and human development as government spending on education, health, agriculture and roads grew at an exemplary rate. In 2010/11, Ethiopia has made significant progress towards achieving the Millennium Development Goals (MDGs). In 2004/05, 38.7% of Ethiopians (about 30 million people) were poor. The figure has gone down to about 32.3% in 2009/10 and is expected to fall further to 31.0% in 2010/11. The decline in rural poverty since 1995/96 is substantial. Ethiopia is also on the right track in relation to education. Given the trend in the 1990s and the recent performance, conservative estimates show that this particular goal is achievable by 2015. However, this success may have come at the expense of quality in education. Ethiopia also appears to be on track to achieve gender parity in primary school enrolment by 2015. The country is also on track with regard to the health related MDGs such as maternal and child mortality, as well as HIV-AIDS and malaria prevention and treatment.(http://www.africaneconomicoutlook.org)

Ethiopia-Ashegoda to Include Larger Turbines

Ethiopia-7/4/2011 Wind farm project to use 1.67MW turbines in second, third phases, up from original plan of onemegawatt turbines
The contract design of the Ashegoda Wind Farm Project has been altered to include turbines generating more power in the second and third phases; the original plan was for 90 turbines to generate 90MW but now 54 turbines each generating 1.67MW will be used instead.The farm, located about 760km north of Addis Abeba in Tigray Regional State, is set to have a total electricity generation capacity of 120MW. The 30MW to be generated in the first phase will still be attained through the 30 wind turbines. However, only one wind turbine has been installed with the others in the process of being installed. While the initial date for the completion of the first phase was set for February 2011, it has now moved to September 2011.“The first phase of the project was delayed due to contract mobilisation issues,” Fisseha Gebremichael, project manager for wind projects at the Ethiopian Electric Power Corporation (EEPCo), told Fortune. “The surveying, geotechnical, and design works also took longer than anticipated. In addition, Lahmeyer, the French consultant, failed to provide a product quality certificate.”The decision to increase the generation capacity of the turbines to be used in the later stages was made to conserve time, according to the project manager. The company is still on track to finish within the initial planned timeframe, he claimed.“The second and third phase each consisting of 45 MW is scheduled in the original contract to be completed within 10 months of each other but due to the contract amendment they could be finished sooner, Fisseha told Fortune. one megawatt turbines are 70 metres high with the diameter of the rotor blade 62 metres long. The 1.67MW are expected to be 80 metres long with the rotor blades’ diameter at 74 metres. The turnkey project of the farm (from the design to the commissioning) is being done by Vergnet SA, a French company, at 294 million dollars. Construction commenced in October 2009, after the project obtained a loan from the French Development Agency (AFD) for 69.8pc of the total projected cost. BNP-Paribas, syndicated with Societe General and CIC Bank, all of which are French banks, loaned 21.4pc and the EEPCo contributed the remaining almost nine per cent.The AFD loan is a soft loan to be paid over five years while the BNP-Paribas commercial loans are to be repaid in 11 years and 15 years. The feasibility study for the wind farm was initially done in 2006 by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), formerly GTZ, which is acting as an engineering advisor on the project. While electromechanical work is being done with machines imported from Europe, the civil work contractors are local firms. The first phase of civil construction work is being done by Rama General Contractor, while Hydro Plc is doing drilling work and Sitec Ethiopia is doing electromechanical work. Sigma Electric is constructing the high voltage (HV) substation to connect with the Mekelle–Alamata power transmission line to enter the national grid.“Since this is the first wind farm project of its kind in Ethiopia, local input is lower,” Fisseha said. “Future technological transfer and capacity building of local staff in these projects will cause subsequent wind projects to use predominantly local input.”Aside from Ashegoda, the government plans to construct another six wind farms over the five-year period of its GTP. Of these, Ayisha Wind Farm with a generation capacity of 300MW is the largest, with Debre Berhan Wind Farm and Asela Wind Farm each generating 100MW. The projects include Adama I Wind Farm and Adama II Wind Farm with a generation capacity of 51MW and 150MW, respectively, as well as Messebo/Harena Wind Farm with the capacity to generate 51MW.Wind power, although a bit more expensive than hydro power, can complement the power from dam reservoirs which thin out after the rainy season and winds begin to pick up at this time.As the generating power of dams decreases, wind power can fill the gap to act as a guarantor against power shortages, Fisseha explained. (addisfortune.com)

Senior Communist Party of China official vows to boost cooperation with Ethiopia

Addis Ababa, July 1, 2011 - A senior official of the Communist Party of China (CPC) pledged on Thursday to increase cooperation with the Ethiopian People's Revolutionary Democratic Front (EPRDF).  Wang Gang, a member of the Political Bureau of the CPC Central Committee and vice chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks while meeting with a delegation headed by Shiferaw Tekle-mariam, a member of the EPRDF executive committee. Shiferaw is also Ethiopia's federal affairs minister.Wang talked about China-Ethiopia relations, saying cooperation in the areas of trade and investment, culture, education and public health was expanding, and the two countries were working closely together on international and regional affairs coordination.
 "The China-Ethiopia relationship, under the framework of the Sino-Africa Cooperation Forum, has set an example for South-South cooperation," Wang added. The CPC and the EPRDF have forged a close partnership over the past years, he said. "We are willing to step up exchange and cooperation with the EPRDF on the basis of the four principles for party-to-party interaction, and continue seeking new means of exchange and cooperation in order to inject fresh vitality into the China-Ethiopia All-round Cooperative Partnership," Wang said.The four principles include "independence, complete equality, mutual respect, and non-interference in each other's internal affairs." (Xinhua)

Ethiopia: towards poverty eradication!

It was an unforgettable tragedy. Ethiopians had nix to eat. The number of deaths of children and women reached its peak in the 1974. How a paradox it is!
Despite the abundant natural resources of the country, Ethiopians had been suffering of hunger, disease and instability for years. It’s Incredible. The the entire scenario has now changed altogether. The past two decades witnessed Ethiopians are in the right truck to alleviate poverty. The country’s economy has registered a double digit growth rate for the past eight consecutive years. The life of millions of farmers has altered. Unseen in its history, a considerable number of farmers have become potential investors. Now Ethiopians have begun implementing the 5 year growth and transformation plan so as to scale up the best practices. They have been working day in day out towards alleviating poverty through harnessing the country’s natural resources like Hydro, gold, platinum, copper, potash and natural gas. Ethiopia’s hydropower generating potential is more than 45 thousand MW. That is why the government has been investing largely on hydroelectric power. It’s also incredible that a country that had been suffering of hunger for decades able to finance huge projects like the Ethiopian Renaissance Dam. As part and parcel of of its 5 Year Growth and Transformation plan, Ethiopia has determined to raise the current 2000 MW generating capacity to 10,000 MW.
The Ethiopian Renaissance Dam, which recently launched, has the greatest contribution. In this regard no Ethiopian with a healthy mind opposes efforts exerted to make poverty a history. This is the time for citizens at home and abroad to come together and work hand in hand.
All Ethiopians are expressing their readiness and capabilities to realize the historical hydroelectric project on the Nile River.
The Diaspora in Ethiopia said, there inevitably comes a time when one finds it difficult to remain silent for historical, psychological, and political and socio economic reasons. We, Ethiopians, stand together and work harder to realize the renaissance of our motherland. Successful implementation of the Renaissance Dam could meaningfully pave ways for the eradication of poverty and ensuring sustainable economic growth; thereby, opening a new chapter in the economic history of Ethiopia. (waltainfo.com)

Ethiopian Human Rights commission expands reach, opens six branch offices

Addis Ababa, July 2, 2011– In a bid to expand its reach, the Ethiopian Human Rights Commission (EHRC) opened six new branch offices in different parts of the country.
Upon the approval of a proposal presented to the House of Peoples’ Representatives, the EHRC opened the first of its six branches in Hawassa, Bahr Dar, Mekelle, Jimma, Gambella and Jijiga towns.According to Berhanu Abadi, communication information directorate director at EHRC, the locations were selected based on a survey conducted in all the nine regions as well as in Dire Dawa city council. “Hiring of qualified personnel is finalized in many of the new branches and works have commenced as of this month,” Berhanu told WIC in an exclusive interview.
The director said the commission also plans to further expand its reach by opening another seven new branch offices starting from the next budget year. In line with its quest to expand its reach, the commission has also signed a Memorandum of Understanding (MoU) with law schools of 16 state run universities, six national civil societies and women’s associations of three regional states - Amhara, Tigray and SNNP. “Through these institutions the commission will place itself in a closer proximity with citizens, especially the disadvantaged,” Berhanu said. Established five years ago, EHRC focused its activities during the formative stage on creating awareness of citizens on issues of human rights and democracy. The director said that the commission is finalizing a new five year strategic plan.(waltainfo.com)

Ethiopian Diaspora investment reaches 19.4 billion birr

Addis Ababa, July 1, 2011 - The Ministry of Foreign Affairs (MoFA) said Ethiopians in the Diaspora and foreign nationals of Ethiopian origin have invested 19.4 billion birr at home. Diaspora Information and Research Director at MoFA, Tesfaye Wolde, told WIC yesterday that over 2,235 investment projects have been registered over the past 10 years. The director indicated that the projects focused on hotels, real estates, agriculture and construction. A total of 1,141 projects are operational and the remaining 1,925 are under construction, Tesfaye said. He also added that the Diaspora’s engagement in knowledge transfer is also on the rise. “There are many Diasporas teaching in various universities of the country,” Tesfaye told WIC. Ethiopians in the Diaspora have also expressed their backing for the successful completion of the Renaissance Dam by purchasing a 100,000 USD worth bonds from the Ethiopian Electric Power Corporation (EEPCo). Tesfaye urged Ethiopians in the Diaspora to strongly continue their participation in the country’s political, economic and social affaires. (www.waltainfo.com)

Meles Zenawi, PM of Ethiopia, 2011 TV interview, Insight -with Vickram Bahl

Meles Zenawi, talks to Vickram Bahl of ITMN TV on Ethiopia's development, partnership with India and also on many personal decisions taken during his years in power. He also talks of his future plans after this current term as Prime Minister.

Ethiopia Messebo Cement Factory expansion project inaugurated

Addis Ababa, June 28 – Expansion project of Messebo Cement Factory that has been carried out at a cost of over 2.3 billion birr was inaugurated on Saturday, June 25, 2011.nPrime Minister Meles Zenawi said while inaugurating the project that the expansion project inaugurated today (June 25) would have a key role in addressing cement shortage in the country. The premier also commended management staff and employees of the factory for showing their commitment in alleviating the cement shortage that occurred due to the thriving construction sector in the country. Chief Executive Officer (CEO) of Endowment Fund for Rehabilitation of Tigray (EFFORT), Abadi Zemu, on his part said that companies under EFFORT have been contributing their share for the successful realization of the Growth and Transformation Plan (GTP).  
According to Abadi, the second-phase expansion project that has been undertaken for the past two years would have a significant contribution in accelerating technology transfer, human resource development and improving quality and supply of cement product to the country. General Manager of Messebo Cement Factory, Hatsey Berhe, said the expansion project alone would enable the factory to produce 3,000 tonnes of cement per day and 1.3 million tonnes annually, thus raising the total production capacity of the factory to 2.2 billon tonnes per annum. The expansion project was undertaken by a Chinese company named Hefi Cement Research and Design Institute, he said.bA Memorandum of Understanding (MoU) was also signed between mayor of Mekelle town, Niguse Gebere and General Manager of Messebo Cement Factory, Hatsey Berhe that enable the latter to construct a hospital in Mekelle town at a cost of 40 million birr. Prime Minister Meles Zenawi on the occasion handed over certificates for organizations and individuals that contributed for the success of the project. (waltainfo.com)

ERA Signs 2.6 Billion Birr Road Upgrading Agreement

Addis Ababa, June 28, 2011 (Addis Ababa) -The Ethiopian Roads Authority (ERA) signed here on Monday an agreement providing for upgrading of four roads at a cost of 2.6 billion Birr with local and foreign private construction firms. The agreement was signed by Authority Director-General, Zaid Woldegabriel and Satcon Construction General Manager, Samuel Teklay and SunShine Construction General Manager, Samuel Tafesse and President of HAWK International Finance and Construction Co. Ltd, Mohammed Hizam. According to the agreement, Laska-Salayish, Arkit-Hossaenna, Mehal Meda and Dejen-Felegeberhan are the roads which will be upgraded. The roads, whose total length covers 353 kms are part of the Fourth Road Sector Development Program. Some of the roads will be upgraded to asphalt level, according to the agreement. Over 90 per cent of the fund for the construction of the road will be covered by the government while the balance by the World Bank. (ENA)

9 ships being built for Ethiopian Shipping Lines S.C.

Addis Ababa, June 25, 2011 (Addis Ababa) - Nine ships are being built for the Ethiopian Shipping Lines S.C. with a view to enabling the company give reliable transportation service to export and import goods.
Company Managing Director, Ambachew Abraha said at a consultation forum of customers here on Friday that seven of the vessels are multipurpose while the rest are to transport petroleum. Ambachew said the ships will significantly contribute to build the overall capacity of the company and also to give reliable transportation service to export and import goods. He said the company's capacity is getting strengthened from year to year in transportation of the export and import goods. The company has given special attention to transport the necessary materials for construction of the Grand Ethiopian Renaissance Dam, Ambachew said, adding, construction of the Dam has created additional jobs for the company and the business community as well.
He said the company has exerted utmost efforts to launch dry port and multimodal transport service. Currently, two dry ports are giving services in the country. The dry ports helped to reduce unnecessary cost caused by delay of import goods at Djibouti Port, he said. He said establishing additional dry ports and strengthening multimodal transport service is significant as the country's economy is growing.(ENA)

Ethiopia’s Commercial Bank Signs Mobile Banking Accord With IBM

Jun 28, 2011- Commercial Bank of Ethiopia, the country’s largest lender by revenue, has signed a deal for International Business Machines Corp. (IBM) to build a platform to deliver electronic banking services, as it aims to employ new technology to expand its business. The state-owned lender plans to increase the number of its branches by 500, from 372 at present, over five years and to boost account holders by 25 percent a year, from 2 million now, the Addis Ababa-based bank said in an e-mailed statement today. The statement was released jointly with New York-based IBM.
There’s growing demand for banking services in Ethiopia, whose annual economic growth rate of 8 percent last year was the fifth fastest in sub-Saharan Africa, after the Democratic Republic of Congo, Zimbabwe, Botswana and Nigeria, according to an International Monetary Fund report in April. The $3 million agreement aims to develop a platform, operational by August, that will enable the bank to introduce new mobile and Internet banking programs, the companies said. (bloomberg.net)
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The UN Security Council has voted a 4,200-strong Ethiopian peacekeeping force to the disputed Sudanese territory of Abyei.

6.27.2011-Sudan: UN authorises peacekeepers for Abyei
More than 70,000 people have fled the fighting in Abyei. The UN Security Council has voted unanimously to send a 4,200-strong Ethiopian peacekeeping force to the disputed Sudanese territory of Abyei. The force will monitor the withdrawal of Sudanese troops from Abyei, as well as human rights in the region. Northern forces occupied Abyei in May, heightening tensions ahead of South Sudan's independence on 9 July. Aid workers also report continued bombing in South Kordofan, which borders both Abyei and South Sudan. The clashes have raised fears of a renewal of Sudan's 21-year, north-south conflict. More than 170,000 people have fled the fighting in the two regions. The resolution establishes a new UN peacekeeping force, called the United Nations Interim Security Force for Abyei, or UNISFA. It comes a week after northern and southern leaders signed a deal in Addis Ababa, Ethiopia, to demilitarise Abyei and let Ethiopian troops monitor the peace. Sudan's ambassador to the UN, Daffa-Alla Elhag Ali Osman, said northern forces would withdraw as soon as the Ethiopian troops had been deployed. French UN ambassador, Gerard Araud, called the force's mandate "robust" . The resolution also orders UNISFA to protect civilians and to "protect the Abyei area from incursions by unauthorised elements". Humanitarian sources have told the BBC that five bombs were dropped from an Antonov aircraft on the village of Kurchi in South Kordofan. Sixteen people were killed - including an eight-month-old baby and a three-year-old, they say. The BBC has seen disturbing photos of the dead - in some cases their bodies torn apart by the bombs. Northern forces have been accused of bombing parts of South Kordofan inhabited by ethnic Nubans, who largely supported the south during the civil war. The fighting broke out after pro-southern groups were ordered to disarm after Ahmed Haroun was declared the winner of recent governorship elections.Mr Haroun is wanted by the International Criminal Court for alleged crimes against humanity committed in Darfur. Over the weekend, Mr Haroun said the situation was now safe and people have started to return to their homes. However, human rights group Amnesty International accused the authorities of forcing the displaced to go home despite continuing violence. (BBC.co.uk)

Ethiopia commences new routes to South Sudan’s Upper Nile

June 25, 2011 (ADDIS ABABA) - African carrier, Ethiopian Airlines has started additional flights to South Sudan’s Malakal town in the Upper Nile region, the second destination to the region the Airliner offers services to. Ethiopian Airlines announced that flights to Malakal began on 17 June 2011.In May 2006, the Ethiopian airlines for the first time launched weekly four flight services to South Sudan’s capital Juba, with stop over in Kenya and in Entebbe, Uganda upon the outward and return legs. The latest operation will bring the airline’s global destinations to 62. The airline will operate the routes to Malakal, four times a week on Sunday, Monday, Wednesday and Friday. South Sudan is due to officially become an independent state on July 9, making it the world’s newest state. With poor infrastructure and underdeveloped road system, the additional flight schedule will have an important part in allowing South Sudan connect with neighboring countries. "The new flight service to Malakal provides the best connectivity and convenience for business people as well as the general public of the South Sudan." said Tewolde Gebre-Mariam, chief executive officer of Ethiopian Airlines. "The new operation will connect Malakal to the vast Ethiopian route network worldwide via the Addis Ababa Bole International Airport hub’’ a statement from the company said. Similarly, Ethiopian airlines have begun new flight to Hangzhou, China five times weekly. The horn of Africa country, the continent’s biggest coffee exporter, beaome landlocked after its former northern region, Eritrea, declared its independence in 1993. Since then air travel has played an increasingly important role in the Ethiopia’s international transport services. (sudantribune.com)

Ethiopian Coffee export earns over 574 mln br

Addis Ababa, Saturday, 25 June 2011 – Ethiopian Grain Trade Enterprise (EGTE) said the country has gained over 574 million birr from coffee export in the past 11 months. Berhane Hailu, general manager of EGTE, told WIC that coffee export has been registering a steady growth due to the government’s persistent support to the sector.The ever expanding export destination of Ethiopian coffee is now reaching new markets in China, Korea and Japan.“We are doing massive promotional activities in these countries,” Berhane told WIC.
 The 11 months performance of the sector saw the country generating close to 574.5 million birr from export of over 111,000 quintals of washed and unwashed coffee. Last year the enterprise exported 85,671 quintals of coffee.“This year’s performance surpasses our projection by 15 percent,” Berhane said.The enterprise, which started coffee export only last year, has planned to increase the unprocessed coffee export to 200,000 quintals per annum in the coming five years. “We are also looking into ways of adding value to our export with a view to increasing our earnings,” Behailu told WIC. (waltainfo.com)

AngloGold ups stake in Ethiopian gold explorer Stratex

JOHANNESBURG 6/25/2011 − Aim-listed Stratex on Friday announced that South Africa-based AngloGold Ashanti had acquired a 11.5% stake in the company for £3-million through a private placement. The funds would be used to fast-track exploration in the Afar epithermal gold province in Ethiopia and Djibouti.The two companies are also involved in ongoing discussions regarding potential spin-off of Stratex's East African exploration assets.Chairperson Christopher Hall said that at least one-third of the funds raised through the private placement would be used to advance further exploration and development of Stratex's East African assets and potential spin-off listing costs. The remainder would be used for Stratex working capital purposes and the company’s development in Turkey and elsewhere.
AngloGold is already working with Stratex on its Megenta epithermal gold discovery also in the Afar region, where a 3 000 m drilling programme is currently under way. “We believe that AngloGold's clear understanding of the significance of the Afar region as a new epithermal gold province, which is demonstrated by its commitment to fast-track regional exploration, is one of the motivators behind this placement. “With this in mind, we are confident that this placement offers us the potential to rapidly add value to our exciting and expanding portfolio of gold exploration projects in East Africa,” said Hall. (miningweekly.com)

UAE, Ethiopia to strengthen investment, trade ties

Addis Ababa, Saturday, 25 June 2011- Ethiopia, Africa's fastest growing economy, boasting 11 per cent growth, is looking for greater investments from the UAE, a top Ethiopian government official said. 
 The UAE's investments in Ethiopia, just 800 million USD in the last seven years, are modest because of a ‘lack of information' about the opportunities available, Tadesse Haile, Ethiopian State Minister of Industry, told Gulf News.
Investment opportunities abound in agriculture, mining, infrastructure, manufacturing, tourism in Ethiopia's economy, experts agreed during a seminar briefing UAE-based companies on investment opportunities in Ethiopia on Thursday.
Despite the geographical proximity between the UAE and Ethiopia, it is India and China that are leading investments in Ethiopia, Tadesse said.In terms of trade, Germany is Ethiopia's top trading partner. "UAE-Ethiopia trade is far behind expectations...There is much to go in this area," he commented.
Ethiopia is Dubai's 71st trading partner with non-oil trade reaching Dh1 billion in 2010, said Abdul Rahman Saif Al Ghurair, chairman of the Dubai Chamber of Commerce and Industry (DCCI) that organised the event.
Investment potential
Ethiopia offers massive opportunities for investors: A large market with a population of over 80 million, over 1.14 million square kilometres or the equivalent of France and Spain combined, cheap labour, political stability and access to markets in the EU and US are just a few reasons to invest in Ethiopia, experts said.
Ethiopia has undergone a major overhaul in the past 10 years. It is the fifth biggest economy in Africa — after South Africa, Nigeria, Angola and Sudan — climbing up from 10th in 2003, according to Zemedeneh Negatu, Managaing Partner of Ernst and Young Ethiopia, in a presentation called ‘Investing in Ethiopia: Why now?'
By 2023, Ethiopia's GDP per purchasing power will hit an approximate 500 billion USD and it is set to become the third largest economy in sub-Saharan Africa, according to an Ernst and Young forecast.
Fastest growing
By 2015, Ethiopia is expected to become the third fastest growing economy in the world, said Zemedeneh. The government has reshaped the investment environment to attract foreign currency.
Ethiopia ranks higher in doing business than three of the four BRIC (Brazil, Russia, India, China) economies except China. Ethiopia is ranked 107th out of 183 countries in the Doing Business 2010 report by the World Bank while China ranks 89th.
Regionally, Ethiopia ranks ninth in the top 10 countries to do business within Africa, according to the same report. Ethiopia is expected to exceed 11 per cent growth this year, surpassing top players India and China, and has sustained double digit growth in the past few years.
If recent trends continue, Ethiopia's goal of joining the ranks of the middle income emerging market economies is achievable in less than two decades, said Zemedeneh.
While China is known for its cheap labour, Ethiopia undercuts even those rates. A worker in the manufacturing industry in China earns 420 USD a month but his Ethiopian counterpart gets just 80 USD, he added.
The major investment sector in Ethiopia is agriculture and agro-processing. The country has reserved 3.6 million hectares for foreign investors, said Zemedeneh.
There are 74 million hectares suitable for agriculture and 15 million hectares of cultivated land. The land is suitable for the production of food crops (wheat, maize, beans, lentils, chick peas and more), oil crops (sesame seed, rapeseed, cotton seed), coffee and tea, cotton, feed stocks for bio diesel (palm oil, castor oil) and for ethanol (sugarcane, sugar beet, potatoes and corn).
Agriculture contributes 45 per cent of the GDP, employs 85 per cent of the population and rakes in 90 per cent of the foreign currency earnings, said Tadesse.
Ethiopia also has the largest livestock population in Africa with 42 million cattle, according to the Ethiopian Investment Agency. There are opportunities in manufacturing textiles, leather products, construction and property development.
Tourism is also growing at 10 to 15 per cent a year, said Eyesuswork Zafu, president of the Ethiopian Chamber of Commerce and Sectoral Associations. Ethiopia's biggest exports are coffee, oilseeds, pulses, spices, chat, livestock and meat products, although flower and gold are emerging products too, said Eyesuswork.
With a 4.7 billion USD hydropower project, Ethiopia hopes to be a net exporter of energy to neighbouring countries in future, said Tadesse.
Foreign investment 
About 16 per cent of foreign direct investment (FDI) into Ethiopia is from licensed investment projects, he added.
With a restructured legal and institutional framework, Ethiopia has tried to attract investors through various incentives: no tax levies on exports, investors are exempt from customs duties and other taxes on imported or locally purchased raw materials used in exports, and exporters can retain and deposit in a bank up to 20 per cent of their foreign exchange earnings from exports to reinvest in business.
However, sectors exclusively for Ethiopian investors include banking, indurance and micro-credit services. This is only a temporary situation, said Tadesse. 
Security issues 
UAE-based food company IFFCO Group will be investing in palm oil plantations and cattle processing facility in Ethiopia — a country that could be one answer to UAE's food security issues, said a senior company official.
The company has signed a Memorandum of Association and has started recruiting staff there, said Anurag Sen, Head of Africa for IFFCO, a subsidiary of Allana.
Halcrow Group, a global construction and infrastructure consultancy, is also considering Ethiopia as a prime market for projects in water treatment plants, roads, rail and airports, said Tim Gamon, Development Director in the UAE.
(waltainfo.com)

Syrah Resources deals itself into prime gold exploration ground in Ethiopia

Syrah Resources deals itself into prime gold exploration ground in Ethiopia

2011 African Business Awards: Ethiopian Named Outstanding Businesswoman

Addis Ababa, Thursday, 23 June 2011 - Bethlehem Tilahun Alemu, founder and managing director of the footwear brand SoleRebels and one of the World Economic Forum’s Young Global Leaders for 2011, has been named Outstanding Businesswoman at this year’s African Business Awards, becoming the first Ethiopian to receive the accolade.
The fourth edition of the prestigious gala, which took place in London yesterday, boasted an impressive list of nominees, including Sandie Okoro with Barings Asset Management, Stella Kilonzo, Chief Executive of the Kenya Capital Markets Authority, and Pedu Adebajo of the Mouka group in Nigeria.“I am excited and deeply honored by this award and I accept it on behalf of all the persons who have played and continue to play a role in my success,” Bethlehem said in a statement. “My success has been and continues to be a truly collective effort.”Commenting on her award, “Omar Ben Yedder, Publisher of African Business magazine, stated: “Bethlehem is truly a remarkable entrepreneur and leader. She has built an incredibly successful company and a global brand from scratch. At the same time she has empowered her community and her country while presenting a galvanized, dynamic face of African creativity to the global market. With that in mind we are excited and honored to name her Outstanding Business Woman of the year.”Organized by African Business magazine, and the Commonwealth Business Council (CBC), the African Business Awards has become a platform to celebrate excellence and best practices in African business and recognizes those who have driven Africa’s rapidly transforming economy.“The African Business Awards is a key annual event for the African business world and its accolades are much sought after by Africa’s leading companies and entrepreneurs,” IC publications, the event’s host, notes on its website. (Tadias Magazine)

Eritrean opposition calls for international support as volcano kills seven

Addis Ababa,Thursday, 23 June 201 – An exiled Eritrean opposition group on Wednesday called on international community to immediately act to provide urgent assistance to the thousands of Eritreans it said are affected by the Narbo volcano that erupted over a week ago in the country’s south.The Addis Ababa-based Red Sea Afar Democratic Organization (RSADO) said the volcanic eruption has killed at least seven people, injured many others and displaced thousands of people.“We call on the international community to swiftly use diplomatic pressure over the Eritrean government to allow an international humanitarian aid to the thousands of volcano-hit people’’ reached by phone Yasin Mohamed Abdela, RSADO spokesperson, told Sudan Tribune from the Ethiopia-Eritrea border.Independent news about the eruption is hard to come by as Eritrea does not allow independent local journalists or foreign correspondents into the Red Sea nation. The RSADO official accused the Eritrean government of hiding the level of the disaster. He said that his party holds the Eritrean government accountable for the loss of life and other related damage caused by the volcanic activity. “The Eritrean government had the knowledge in advance on the occurrence of the volcanic eruption and evacuated hundreds of its soldiers from the area one day ahead of the eruption however [they did not give] advanced notice to the inhabitants nor did [the government] evacuate them to safety,’’ Yasin said.The UN or other NGOs are reportedly not allowed to leave the capital, for independent assessments of the situation of the people. Since Eritrea’s independence from Ethiopia in 1991 the country has been retiscent to allow a large UN and NGO presence in the country stating that it did want to become dependent on foreign aid.“The Eritrean government is well known of deliberately blocking access to foreign media coverage in the country to avoid any possible international intervention,’’ Yasin said.“This is what the latest incident proves - hide the level of the impact, neglect and trade its own people to its odd ties with the international community,” he added.After over a week-long silence, Eritrean state television last night confirmed the causalities after the Red Sea Afar rebels released a statement on their website regarding the deaths and damage the volcano had caused.The ongoing volcanic eruption is blowing ash and large amounts of poisonous gas such as sulfur dioxide causing pollution to the environment and other natural resources that 'remote community depends to lead their day-to-day life.“People in the southern Denkelyia region are in desperate need of humanitarian assistance. The local communities at the vicinity need an urgent supply of food, water, shelter and medical attention,’’ he said.“People, mainly children and mothers, are getting sick. Unless an urgent medical team is deployed the death toll will sharply rise in the days to come.’’The toxic gases emitted by lava in an eruption can cause asphyxia and death to both animals and humans if inhaled.ssh can travel for miles in the air and can also cause rashes and irritation to skin if it is left exposed.During the late evening of 12 June, Narbo exploded into life sending plumes of ash 14 km (eight miles) into the air and triggering two moderate earthquakes of 5.7 magnitude.According to the director general of Mines at the Ministry of Energy and Mines, Alem Kibreab, the volcano spewed so much ash and lava that it has created a new land mass measuring hundreds of square meters.A similar volcanic eruption in Eritrea occurred in 1861, in Dubbi, Southern Denkel.
The latest volcanic eruption on Eritrea has also affected at least 5,000 people living at the borders in Ethiopia, aid workers told the BBC.It has polluted water and salt beds in Ethiopian border villages, leaving children ill and killing animals. (Sudan Tribune)

Addis Ababa, Nairobi best locations for airlines hubs in Africa

Addis Ababa,Tuesday, 22 June 2011- Addis Ababa and Nairobi are the best locations for the creation of airline hubs in Africa, the Malaysia-Africa Business Forum reported.Ethiopia's Precise Consult International PLC managing partner Henock Assefa said this was because the best connections to African destinations were actually provided by Kenya Airways and Ethiopian Airlines.He pointed out that Ethiopian Airlines, an over-a-billion dollar company, right now flew to about 60 countries, which included more than two dozen flights weekly to India and China."The airlines industry is growing very fast in Africa even when the global aviation industry is falling apart. All African airlines, the one that are run well, happen to earn profits."We need more help and I know for sure, AirAsia, or any airline in Malaysia, would like to make a connection," Assefa said in response to a proposal by former Prime Minister Tun Dr Mahathir Mohamad that African countries should come together to set up airline hubs to derive more benefits and increase inter-connectivity.
Dr Mahathir has suggested that low-cost airlines such as AirAsia seriously consider flying to Africa to facilitate travel and increase trade and investment linkages.Currently, Johannesburg in South Africa is the known hub for Africa.
Assefa also emphasised that there were huge business opportunities in Africa for Malaysian businessman to explore, especially in the consumer market, infrastructure, construction and telecommunications sectors."There is so much demand for construction services in Addis Ababa, that when the government opened up applications for a low-cost housing project five years ago, 400,000 households signed up in a matter of two weeks."So, this is an opportunity that cannot be missed by Malaysians," he noted. (source..Malaysia-Africa Business Forum )

Ethiopia to start power supply to Sudan after Djibouti

Addis Ababa, June 22 - Ethiopia will start supplying electric power to neighboring Sudan next month as part of the Horn of Africa country’s plan to become a regional power exporter. Power exports to Djibouti began two weeks ago. Miheret Debebe, CEO of Ethiopian Electric Power Corporation (EEPCo.) on Monday announced that Ethiopia had begun supplying power to Djibouti as part of an agreement between the two countries. And following the near completion of transmission grids between Ethiopia and Sudan, the latter will be the second country to receive electric power from the landlocked country as of July, 2011. According to Miheret, EEPCo is expected to generate enough power in the next 36 months to enable Ethiopia to honor electric power demands from its neighbors. It was reported that Ethiopia had signed an initial agreement to supply 200 megawatts (MW) to Djibouti, 200 MW to Sudan, and 500 MW to Kenya.Ethiopia, which is undertaking Africa's biggest dam over the Nile River, is expected to generate around 5,250 MW of power upon completion of works, has an annual power generation capacity of 2,000 MW. The Horn of Africa country plans to boost its capacity by up to 10,000 MW, as envisioned in its ambitious Growth and Transformation Plan (GTP). Meanwhile, the country is set to launch its first ever wind farm in July, 2011. The 210 million euro wind farm project will provide the country with 120 MW. It adds to a number of multi billion hydro power projects as part of the country’s plan to reach a power generating capacity of around 10,000 MW in the next five years. But besides support from international financial institutions for Ethiopia's power projects as part of a wider regional integration programme in Africa, government estimates indicate that the country will spend about 3.3 billion euro on the construction of the hydro electric dam over the Nile River. (The Africa Report)