Last week, Zemedeneh Nigatu, Fairfax Africa Fund Global chairman, blast on the local and international media outlets with his USD 4 billion oil refinery project planned to be located in the central Ethiopia (Awash area), in Afar Regional State.
The past two years had been particularly hard on Ethiopia’s tourism sector. The political unrest in Oromia, Amhara and Ethio-Somali regional states have stained the relatively peaceful Ethiopian political environment.
Last week, the who’s who of the Ethiopian business community congregated in the UNECA conference hall discussing an issue which is dear to their heart: the establishment of a stock market in Ethiopia. Although the discussion has been going on for past 20 years the authorities are yet to pay attention to it.
Somalia has gone through an unprecedented protracted conflict since 1991. Today, it is one of the few territories in the world without a fully functioning government structure in place. Somalia gained its independence from colonial Italy in 1960 under the leadership of a civilian administration.
If the recent rhetoric from Egypt’s politicians and some government officials is something to go by, the spirit of negotiation among the three nations – Egypt, Sudan and Ethiopia – regarding the Grand Ethiopian Renaissance Dam (GERD) is fast disappearing. In a matter of a few weeks, the president, ministers and parliamentarians of Egypt started taking a hostile path against Ethiopia and the GERD. What is odd is the speed with which the tripartite cooperation has shifted to tension.
After a marathon session of intraparty debate and criticism and self-criticism processes, the Tigrayan People’s Liberation Front (TPLF), the oldest among the four-party coalition, the Ethiopian Peoples’ Revolutionary Democratic Front (EPRDF), announced the removal of his chairman and other prominent members.
Foreign Direct Investment has been one means of getting capital for capital intensive investments. And countries that attract foreign capitals have been using them to attain their goals in different forms and there are both success and failure stories in this regard.