Posts Tagged ‘Ethiopia’

Uganda remains best investment destination in East African region

(HornTrade) – The World Investment Report has again ranked Uganda the leading investment destination in East Africa for the fourth year running. The WIR report prepared by the United Nations Conference on Trade and Development (UNCTAD) simultaneously released globally; indicated that in the year 2009, Uganda’s Foreign Direct Investment was $799 million (Shs1.79 trillion) up from the $787 million (Shs1.45 trillion) recorded the previous year. Read the rest of this entry »

Ethiopia: Expansion of the Electric Power Service in Jijjiga and Degehabur Towns

(HornTrade) - Ethiopia and OPEC Fund for International Development (OFID) signed a loan agreement amounting to 20 million USD.

According to a press release the Ministry of Foreign Affairs sent to WIC, the agreement was signed in Vienna, Austria on 6 July 2010.

The fund will be utilized to expand electric power service in Jijjiga and Degehabur towns. Read the rest of this entry »

Petronas May Begin Ethiopian Gas Exports in 2015

(HornTrade) – Petroliam Nasional Bhd., Malaysia’s state-owned oil company, may begin exporting natural gas from Ethiopia in five years, when production starts at a plant it is building in the country, a Mines Ministry official said.

Fields being developed by Petronas in Ethiopia contain as much as 4 trillion cubic feet of gas, Eshetu Chala, senior economist at the Addis Ababa-based ministry, said in an interview yesterday in Kampala, Uganda. Annual production figures have yet to be determined, he said.
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Stratex: Gold opportunities in Ethiopia and Djibouti in the Horn of Africa

(HornTrade) – Gold and base metals play Stratex International awaits potentially encouraging drilling results from Turkey and sees possibly much larger rewards in Ethiopia.

Steered by chief executive officer Bob Foster, Stratex, which expects its first production from Turkey in late 2011, has also positioned itself to exploit what it argues are long-neglected gold opportunities in Ethiopia and Djibouti in the Horn of Africa, a region now attracting growing mining interest. Chip samples from one prospect, Magenta, have shown low-grade intersections of 0.1 to 0.5 grammes of gold per tonne of ore, though one 0.6 metre sample shows 16.75 grammes a tonne. Read the rest of this entry »

Ethiopia, Djibouti Customs to Share Port Database

(HornTrade) – Revenue and Customs Authority of Ethiopia (RCuA) is going interface its database with Djibouti Customs Office, reports Capital. This is meant to better manage and control incoming and outgoing goods of the country, according to the news report.

The authority negotiated with their counterpart of Djibouti and reached an agreement to interface their database to supply detailed information about incoming and outgoing goods in Ethiopia, according to sources at the authority. Read the rest of this entry »

Horn of Africa To Receive EUR20 Million Aid Package For Drought

(HornTrade) – The European Commission adopted Wednesday a € 20 million humanitarian financial package to support 12 million people affected by drought in Djibouti, Eritrea, Ethiopia, Kenya, Somalia and Uganda. This funding will help efforts to develop the populations’ resilience to drought and adapt to climate change.

The Greater Horn of Africa has been severely affected by recurrent and persistent manmade and natural hazards, leaving populations highly vulnerable to drought, human and livestock disease outbreaks, and to a lesser extent Read the rest of this entry »

Ethiopia: a billion Euros worth of fuel in the past 11 months

(HornTrade) -  Ethiopia imported one billion Euros worth of fuel in the past 11 months, which shows the country’s ever rising fuel consumption, APA learns here on Monday.

The Ethiopian Petroleum Enterprise said that the rise in fuel consumption has been witnessed due to the rapid economic growth of the country.
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Lufthansa Challenges Air France in Ethiopia, Congo, Figaro Says

(HornTrade) - Ethiopia Airlines is close to signing an agreement to join Deutsche Lufthansa AG’s Star Alliance, French daily Le Figaro reported, citing unidentified executives at the International Air Transport Association. Read the rest of this entry »

Ethiopia to lengthen fibre-optic line

(HornTrade) – Ethiopia is working to extend the current 7,000 kms of fiber-optics line to 10,000 kms in the coming three months with the aim of expanding telephone and internet services. This is indicated by the Minister of Finance and Economic Development, Sofian Ahmed, while presenting five year performance report of the ministry to the country Parliament.
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Stratex expanded its activities in the Ethiopia-Djibouti border

(HornTrade) – Gold and base metals explorer Stratex International has expanded its activities into Djibouti with the award of six new licences covering 535 sq km.

They brings the company’s total land package in the Afar Depression to 2,780 sq km, straddling the border of Ethiopia and Djibouti. Read the rest of this entry »