By William Davison Bloomberg- Ethiopia will grant Tullow Oil Plc (TLW) an extension to its exploration license after the company reported “encouraging” results in its search so far, Mines Minister Tolesa Shagi said. “We will definitely grant them because they’ve done so much and we appreciate whatever they’ve tried to do,” Tolesa said in a
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The agreement allows for 7 flights per week between Manila and Ethiopia, and unlimited flights between the African aviation hub and other Philippine airports Rappler.com MANILA, Philippines – The Philippines and Ethiopia signed a maiden air services agreement (ASA), expanding their aviation relationship and traffic rights, the Civil Aeronautics Board (CAB) reported. The air talks
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Bloomberg By Rene Vollgraaff Sub-Saharan African economies need to better prepare for the risks of the Ebola outbreak, wider budget shortfalls and security threats from militant groups, according to the World Bank and International Monetary Fund. “Risks that require enhanced preparedness include rising fiscal deficits in a number of countries, economic fallouts from the activities
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Prepares bid documents The Chinese company that acquired the Calub and Hilala gas fields in eastern Ethiopia, POLY GCL Petroleum Investment Limited, this week announced that it plans to start extracting natural gas from the gas fields by 2018. On November 16, 2013, the Ethiopian Ministry of Mines and POLY GCL Petroleum Investment Limited signed
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4.4 billion people around the world still don’t have Internet. Here’s where they live The Washington Post By Roberto A. Ferdman The world wide web still isn’t all that worldwide. An exhaustive new study by McKinsey & Company (really, it’s 120 pages long) about the barriers to Internet adoption around the world illuminates a rather
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IB Times By Boby Michael Despite Ethiopia’s achieving robust economic growth, while keeping inflation below 10% and improving social indicators, the International Money Fund says the country must now replace its public sector-led growth strategy with a private investment-led model for sustainable growth. “The sustainability of the current public sector-led growth strategy was threatened by several
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By Clare Kennedy Minneapolis / St. Paul Business Journal A St. Paul entrepreneur has perfected a machine that makes injera, a flatbread that is a staple item in East Africa, and now he plans to sell the systems to other wholesale bakers. Francesco O’Ryan also is the owner of East African Bakery, which sells injera
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World Bank PRESS RELEASE WASHINGTON – The World Bank’s Board of Executive Directors today approved a US$600 million International Development Association (IDA*) credit to Ethiopia for the Productive Safety Nets Project 4 (PSNP4). The funds will be used to expand access to safety net and disaster risk management systems, as well as provide nutrition services and income support
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How We Made It In Africa By Dinfin Mulupi Ethiopia is home to the biggest population of cattle in Africa. The leather and textile industry is central to the economy of the East African nation and has attracted millions of dollars in foreign investment. There are over 230 textile and garment factories in Ethiopia. In 2010 Swedish
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The Thrillist BY DAN GENTILE If coffee growing was an Olympic event, it’d be a marathon not a sprint. And not just because Africa totally dominates. Being a coffee superpower requires years of economic, infrastructural, and government investment. Plus a bean-friendly terrior, farmers dedicated to quality control, and a trust in industry buyers to bring
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