Kanoria Industries Setting Up Denim Plant In Ethiopia

Kanoria African Textiles Plc, a subsidiary of India’s Kanoria Chemicals and Industries, is setting up a denim fabric manufacturing plant that will be a first for Ethiopia and East Africa and will create 350 jobs, mainly for Ethiopians. This is one of the 577 projects on which Indian investers … [Read more...]

Ethiopian Signs Agreement with Djibouti Airport for Sea – Air Transport

Ethiopian Airlines signed a Memorandum of Understanding (MoU) with Djibouti International Airport for the provision of sea-air and air-sea cargo transport of goods in East Africa. The MoU was signed at Ethiopian Airlines headquarters on Monday, 22 April 2013, between Mr. Tewolde Gebremariam, CEO … [Read more...]

Ethiopia inflation falls for fourth month in row

The Central Statistics Agency said food inflation dropped to 21.5 percent from 29.2 percent in May, while non-food inflation rose slightly to 19.8 percent from 19.6 percent. Month-on-month, prices did not change, compared with a rise of 0.9 percent in the previous month, the agency said. Although … [Read more...]

African roses bloom on Dulles’ runways

Vendors in Japan, Russia, the Netherlands and Germany have embraced the relatively new commodity, but the distant farms pose a logistical challenge for U.S. markets. That’s all changing, as one local airport is making an effort to take advantage of the burgeoning market and help the local economy … [Read more...]

Ethiopia inflation drops to 25.5 pct in May

Although the African country has registered one of the highest economic growth rates in the world for the last few years, the International Monetary Fund says the biggest challenge facing policymakers is the high rate of inflation. Food inflation slowed to 29.2 percent in May from 36.7 percent in … [Read more...]

Dubai Chamber discusses investment opportunities in agribusiness, building materials, construction and tourism with Ethiopia

The organisation hopes this will lead to the creation of new business networks that will enable and assist its members with expansion into new and emerging markets. These networks will also raise the competitiveness of Dubai as a leading international business hub globally. H.E. Hamad Buamim, Dubai … [Read more...]

Huajian of China’s Ethiopian Export Zone May Generate $4 Billion

“It should start in May with my own investment,” she said. “We will own it and we will manage it. The government promised me in two weeks’ time to finalize the process.” Huajian Group, based in Dongguan, Gaungdong province, produces about 20 million pairs of shoes a year for brands including Calvin … [Read more...]

China, Germany, 2 Others Sought to Develop Tantalum Rare Earth Mine in Ethiopia

Zerihun Desta, general manager of Ethiopian Mineral Development SC (EMDSC), told Bloomberg News proceeds of the sale of EMDSC will enable the government to pursue the expansion of the Kenticha mine as well as build a factory to facilitate the processing of the rare earth metal. No details, however, … [Read more...]

Tullow Seen Beating Peers With $30 Billion Africa Find: Energy

With Canadian partner Africa Oil Corp., Tullow is aiming for at least 300 million barrels of oil worth $30 billion or more with its first two sites in an underdeveloped area stretching from Kenya to Ethiopia, a plot almost the size of England. Shallow wells for seismic surveys have shown so-called … [Read more...]

Ethiopian Airlines Revealed as Customer for Five Q400 NextGen Turboprops

Ethiopian Airlines, the flag carrier of Ethiopia and one of Africa’s leading airlines, serves 64 international destinations. The order announced on February 16 will increase the number of Bombardier Q400 NextGen airliners purchased by Ethiopian Airlines to 13. Based on the list price for the Q400 … [Read more...]