Business

Finally the dust has settled in the Kenyan capital Nairobi. The streets have resumed their normal activities. The situation today stands in stark contrast to the one a week ago, when 10,000 visitors from the Far eastern nation, Japan, and from the rest of Africa descended on Nairobi.

Ethiopian Airlines is building a four star hotel at its main hub in Addis Ababa at a total cost of 65 million dollars.

To import 500 additional trucks Dangote Cement (Ethiopia) is contemplating to expand its cement export and dominate neighboring countries’ cement market.

The governments of Ethiopia and the United Arab Emirates (UAE), which have strong diplomatic and trade relations, have once again failed to sign bilateral air service agreement (BASA) that allows airlines of the two countries connect the countries by air transport.  

Financial sector business leaders are going to deliberate on the challenges and opportunities in the Ethiopian financial sector.

Toyota Tsusho signs MoU to partake in geothermal plant, textile machineries By Birhanu Fikade, Nairobi, Kenya At the sixth Tokyo International Conference on African Development (TIACD VI) major Japanese companies have expressed their interests of investing in Ethiopia and company leaders have met with Prime Minister Hailemariam Dessalegn at the summit in Nairobi where the conference is being hosted in Africa for the first since 1993.

The Import-Export general manager and member of the committee that approves foreign exchange allocation at the Cooperative Bank of Oromia (CBO), Birhanu Weldesenbet Negera, has been suspected of corruption and has been detained on Monday.

Previously pledged USD 32 bln to be reviewed   By Birhanu Fikade, Nairobi, Kenya In the first ever meeting to be held in Africa, the Japanese government initiative dubbed “Tokyo International Conference on African Development-TICAD” a.k.a. the TICAD Summit has congregated some 30 heads of state and government and other 10,000 delegates in Nairobi to have multilateral and bilateral meetings on economic and social objectives of the continent.

Amid warnings issued by the government regarding the outbreak of Acute Watery Diarrhea (AWD), which has already posed national risk, the raw meat market is conducting business as usual with butcheries catering to raw meat eaters.

The Vancouver-based mineral exploration company, East Africa Metals, has asked the Ethiopian Ministry of Mines, Petroleum and Natural Gas to be given large scale mining license that enables it to produce gold and silver minerals in the Tigrai Regional State.