Ethiopia moves to diversify exports

It's a scene more commonly associated with France's Bordeaux region or America's Napa Valley than Ethiopia, which typically conjures notions of famine, poverty, and repression. The vineyard is owned by French beverage company Castel, which plans to export half of its 750,000-thousand bottle … [Read more...]

Kenya to import Ethiopian energy

The line will have the capacity to transmit 2000MW. “We are discussing how to transmit 400MW from Ethiopia to Kenya through high voltage line stretching 4000 kilometres. Its an expensive project that will cost us Sh64 billion,” the minister said. He added: “We are almost through with negotiations … [Read more...]

ABB to strengthen power grid in Ethiopia

Ethiopia is among the world’s oldest civilizations, with a population of about 82 million, making it the second-most populous country in Sub-Saharan Africa. In recent years it has been one of the fastest growing economies in Africa and has made significant progress in improving key human development … [Read more...]

Foreign firms invest over US$6 bn in potash mining

Potash, used primarily as an agricultural fertiliser is a source of soluble potassium, one of the three primary plant nutrients. There are large deposits of potash in Ethiopia. 

Allana Potash last week said that it had tested potash deposits at the three points in the south western part of its … [Read more...]

Ethiopia’s ‘Distorted’ Monetary Plan Needs Reform, IMF Says

The Horn of Africa country’s five-year economic-development plan that starts in the fiscal year beginning July 8, 2010, and targets annual growth of 11.2 percent is “very ambitious,” the Washington-based lender said. The IMF projects output for the period will range from 6 percent to 8 percent a … [Read more...]

IMF Executive Board Concludes 2011 Article IV Consultation with Ethiopia

Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system. The IMF’s appraisal of such policies involves a … [Read more...]

Ethiopian fruit company’s vision is more than a quick buck

The reason for O’Halloran’s trip to Ethiopia was to visit his company BusinessMinds’ passion fruit venture, called africaJUICE, about 150 km to the south-east of the capital Addis Ababa. Before starting the Ethiopia project in 2007, BusinessMinds only advised companies on sustainable business … [Read more...]

China has lent Ethiopia US$ 500 million

Ethiopian Finance and Economic Development Minister, Sofian Ahmed who signed the agreement with his Chinese counterpart said the loan will be used to implement 15 development projects. “The projects to be implemented have already been finalised and will be discussed with the Chinese government,” … [Read more...]

Infilation in Ethiopia jumped 39.2 in July

Cigarettes and tobacco prices rose 44.8 percent, while transport and communication costs were up 44.3 percent, the office said on its website. Rising inflation has been a common problem for economies in the east and horn of Africa this year, as poor rains have affected farming while oil prices have … [Read more...]

Ethiopia says eyes gas production in six years

Chinese firm PetroTrans signed a deal in July for concessions to Ethiopia's Calub and Hilala gas fields. The company will spend $4 billion to develop the reserve, according to the ministry of mines. "Our effort is to develop the discovered resources as quickly as possible," Ketsela Tadesse, head of … [Read more...]