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Ethiopian power EX-CEO faces corruption charges

The former CEO of Ethiopian Electric Power (EEP), Azeb Asnake (Eng.), became the latest high-ranking official to be implicated in the high-profile corruption case involving the USD 6 billion Grand Ethiopian Renaissance Dam (GERD), it was learnt.

Power disruptions hobble Ethiopia’s railway lines

A new study by a local research firm has indicated that the Ethiopian railway operation has been suffering from recurrent power outages, exacerbated lack of sound legal system, least available maintenance facilities and most importantly the absence of funding.

PepsiCo joins Veris Investments

PepsiCo has joined Veris Investments, a growing and influential investment company, as a major shareholder in Crisps Company, Senselet Food Processing Plc. (Senselet), in Ethiopia.

Alibaba, MiNT collaborate on training program

A month after Jack Ma, cofounder of Alibaba, visited the capital; a new training program is set to be launched in collaboration with the Alibaba Business School and the Ethiopian Ministry of Innovation and Technology.

Ethiopian Air Force to undergo fleet renewal

The Ethiopian Air Force has proceeded with its fleet modernization program aimed at replacing the aged Soviet Era aircraft; and as part of the renewal program, the Ethiopian Air Force has recently taken delivery of six new German made trainer aircraft.

Draft proclamation opens new doors for foreign investors

A new draft bill, intending to amend the existing investment proclamation has been tabled before the House of Peoples’ Representatives (HPR). The latest bill proposes amending provisions that would offer more opportunities for foreign investors, who seek to jump into local investment areas including the ones preserved to local investors.