Tullow involvement in South Omo is a significant step forward

South Omo has some promising geology. It is within the tertiary age East African Rift and in the same petroleum system as Africa Oil’s Kenya Block 10BB and Tullow’s Ugandan discoveries.Agriterra chairman Phil Edmonds said: "This is a significant step towards accelerating exploration on the South Omo … [Read more...]

Ethiopia’s H1 exports increase but miss target

Officials had set a goal of $1.29 billion in revenue for the first half of the financial year, but its earnings by the end of the period met 86 percent of that at $1.11 billion. Coffee earnings in Africa's biggest exporter of the beans hit $320 million from the export of 95,102 tonnes, … [Read more...]

SABMiller Taps Ethiopia’s ‘Holy Water’

Resource-rich Africa long has been a battlefield for foreign companies vying to extract and export. Now, there's a scramble to sell in Africa itself, a billion-person marketplace with a growing middle class that is stepping into the global economy.But while poverty rates have fallen in the past … [Read more...]

Africa’s impressive growth

On IMF forecasts Africa will grab seven of the top ten places over the next five years (our ranking excludes countries with a population of less than 10m as well as Iraq and Afghanistan, which could both rebound strongly in the years ahead). Read more (The Economist) … [Read more...]

Ethiopia imposes price caps to fight inflation

"The measure is meant to stabilise the market by regulating price gouging and hoarding," Meles said at the event. Officials accused traders of inflating prices off the back of global price hikes and Ethiopia's recent currency devaluation. Addis Ababa devalued the birr currency by 16.7 percent … [Read more...]

Ethiopia export earnings up 64 pct in Q1 2010/11

Coffee earnings in Africa's biggest exporter hit $184.7 million in the first quarter of 2010/11, compared with $104.7 million in the year ago period, trade ministry figures showed. The country earned $528 million from coffee in the 2009/2010 fiscal year. The Horn of Africa prides itself on … [Read more...]

Ethiopia inflation rises to 10.6 pct in October

The CSA said non-food inflation rose by 18.7 percent, with imported goods like cigarettes, construction materials and clothing showing big increases."Cigarettes and tobacco increased by 33.9 percent, clothing and footwear by 25.1 percent, house rent, construction material, fuel and power by 16.5 … [Read more...]