Nation’s Most Expensive Dam Undertaken by Sino-Ethiopia JV

Addis Ababa, Ethiopia – A joint venture between two Chinese and one Ethiopian contractor are undertaking the construction of the twin Gebba Hydro electric power dams, with 9.3 billion Br in financing from China. The dams will be built on the Gebba River in western Ethiopia across the Jimma and Ilu Aba Bora zones of […]

Ethiopia’s Impressive Economic Growth

Ethiopian Economy The country which is sub-Saharan Africa’s fifth biggest economy is at the focal point of emerging economies’ interest with various delegations of foreign investors seeking investment opportunities in the largest landlocked country in the continent. “If you look at it [Ethiopia] from an economic stand point, I think Ethiopia is one of the countries that […]

In conversation: Eleni Gabre-Madhin

Eleni Gabre-Madhin With her new company, Eleni Gabre-Madhin aims to take the commodity exchange momentum that started with the Ethiopian Commodity Exchange, to the rest of Africa. Report by James Jeffrey in Addis Ababa. Addis Ababa, Ethiopia – The offices of commodity exchange company, eleni, occupy the top two floors of Tracon Tower, where one can gaze north and south along […]

Ethiopia Earns $245 Million from Horticultural Products

Ethiopian Floriculture Addis Ababa, Ethiopia – The Ethiopia Horticulture Development Agency said 245 million USD was earned from export of flowers, vegetables and fruits during the just-ended Ethiopia fiscal year. Agency Director-General Alem Woldegerima told Ethiopian News Agency that of the total revenue earned 199.74 million USD was secured from flowers, 40 million USD from vegetables and 6 […]

Foreign Ban Challenges Khat Export, While Gov’t Remains Indifferent

Khat Export By Abdi Tsegaye, Addis Fortune Addis Ababa, Ethiopia – Just like most of his countrymen in the East and West Haraghe Zones of the Oromia region, there is a lot at stake for Abdella Yusuf, 41, with the one item he knows most, Khat, coming under threat. The legend behind the discovery of this addictive leaf […]

Oilseed overtakes coffee as Ethiopia’s top export earner

Oilseeds Export Addis Ababa, Ethiopia – Export of oilseeds has become the biggest foreign exchange earner for Ethiopia overtaking coffee, the country’s number one export item for decades. A ten-month performance report obtained from the Ministry of Trade (MoT) reveals that Ethiopia obtained just under 585 million USD from export of oilseeds, knocking coffee off its perch for […]

Southwest Holdings Expands its Investments

Tewodros Ashenafi By Kaleyesus Bekele, The Reporter SouthWest Holdings is an Ethiopian investment group comprising SouthWest Development, SouthWest Energy, and SouthWest Technologies, among others. It is also in the process of establishing SouthWest Foundation. Kaleyesus Bekele of The Reporter sat down with Tewodros Ashenafi, chairman and CEO of SouthWest Holdings, in his Addis Ababa office and discussed the […]

Ethiopia, World Bank Sign $203 Million Financing Agreement

Ethiopia World Bank Addis Ababa, Ethiopia – The government of Ethiopia and World Bank yesterday signed financial agreement amounting to 203 million USD for the development of geothermal energy. Of the total amount 178.5 million USD is provided in the form of loan, while the balance (24.5 million USD) is donation. The assistance will enable Ethiopia develop its […]

Chinese Ethiopia Visit Stirs Investment Interest

Girma Temesgen, Ethiopia’s Consul General in Chongqing, China.(Photo: AddisFortune.net) - The delegation of businessmen were especially interested in joining the hotel sector, which had left them disappointed.. By Ayenew Haileselassie Addis Ababa, Ethiopia - A group of Chinese businesses and businessmen are talking to a major British consultancy firm about huge investments they are considering in Ethiopia. This came after they visited the country in early May […]

US says committed to support Africa’s economic growth

U.S. Secretary of State Penny Pritzker on Saturday reiterated commitment to supporting Africa's integration into world economy (Photo: World Bulletin) - Addis Ababa, Ethiopia -U.S. Secretary of State Penny Pritzker on Saturday reiterated commitment to supporting Africa’s integration into world economy.    “Africa is proving economic success, good story to the world and U.S. aspires to support African economic growth,” Pritzker said at the conclusion her two-day visit to Ethiopia along with Congresswoman Karen Bass.    Describing Ethiopia as “one of […]
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