Addis Fortune (Addis Ababa)

13 January 2013

Ethiopia: News in Brief

INVESTMENT

Investment Projects Underway in Kombolcha

Close to 220 investors with 20 million Br combined capital are undertaking various investment projects in Kombolcha town, Amhara Regional State. The foreign and domestic investors are engaged in manufacturing, construction, education, health, agriculture and tourism. Upon going fully operational, the projects are expected to create 50,000 jobs, Abebe Abera, mayor of the town said.

Publication: Ethiopian Herald, January 08, 2013.

Investors in North Shoa Undertaking Projects Worth 940m Br

Investors with 940 million Br combined capital are engaged in the agriculture sector in the North Shoa zone of Amhara Regional State. Some of these investors are undertaking agricultural development on 4,000ha of land in all weredas of the zone. The investment projects have created close to 20,000 employment opportunities, Ibrahim Habib, department head of the zone said.

Publication: Ethiopian Herald, January 07, 2013.

CONSTRUCTION

Guraghe Zone to Construct 1,477Km Long Rural Road

Close to 1,477Km rural road will be constructed in Guraghe zone of Southern Regional State with 718 million Br, to achieve the five year Growth and Transformation Plan (GTP) through Universal Road Accessibility Programme (URAP). The roads will be constructed in 410 localities in the zone in collaboration with the government and the public, said Fekadu Bireda, department head of the zone.

Publication: Ethiopian Herald, January 08, 2013.

Ethiopian Roads Construction Builds, Repairs 3,400Km Road

The Ethiopian Roads Construction Corporation (ERCC) said it has carried out construction and heavy maintenance of 3,400Km roads in the first five months of the current fiscal year. This achievement comprises of 94pc of the corporation plan, Amente Daddi, corporation representative said. The corporation also plans to construct 11,342Km of road during the current fiscal year. The ERCC is currently undertaking eight road projects with 4.8 billion Br.

Publication: Ethiopian Herald, January 06, 2013.

Zone Construction, Renovating Water Facilities at 170m Br

Construction and renovation of 980 clean water facilities is underway in North Shoa zone, Amhara Regional State at 170 million Br. The construction and renovation of the facilities is being undertaken in 22 weredas and five urban administrations. Upon going fully operational, the facilities are expected to benefit two million people and raise clean water service of coverage of the zone to 97.3pc from 93.4pc.

Publication: Addis Zemen, January 09, 2013.

FINANCE

Ethiopian Hydro-dam Performance Attracting Global Financiers

The performance of Ethiopian Hydro-Dam Power Projects is attracting international financial institutions as the projects are interconnecting regional electric power grids. The increasing market for electric power appears to have convinced international financiers to fund the projects, according to the CEO of Ethiopian Electric Power Corporation (EEPCo). Ethiopia has begun to make millions of dollars by exporting electric power to neighbouring countries like Djibouti and Sudan.

Publication: Ethiopian Herald, January 08, 2013.

INFORMATION TECNOLOGY

Samsung Introduces New Smart Phone

Samsung Electronics Company introduced a new smart phone, Samsung Galaxy Pocket, in Ethiopia, last week. Following the high market demand in Ethiopia, Samsung is striving to introduce additional new and modern technological devices that fit each individuals personal capacity, Tadiwos Awel, country director of the company said at the launching ceremony. The new galaxy pocket smart phone has 200MB of free internet access, a six month guarantee and is part of the android system.

Publication: Addis Zemen, January 06, 2013.

PARLIAMENT

Parliament Endorses Bill on Prevention of Terrorism Financing

The house of peoples' representative, yesterday, endorsed a draft bill on money laundering and prevention of financing terrorism. The bill helps to put in place sound financial systems in the country based on the principles of international and continental financial relations.

Publication: Ethiopian Herald, January 08, 2013.

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