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Ethiopian News

  • Do Good Thing, Good Things Happen to You


    Artist Solomon Bogale Puts his own Car for auction to help Children with Kidney failure for a transplant at the held at Harmoney Hotel and what happens was amazing. 

    The Auction has to be postponed because of the increase in number of people participating and shortage of time at the event. So far 2.5 Million Birr has been collected including source from the Diaspora in Europe


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  • Ethiopia ranks high in foreign investment attraction

    Ethiopia ranks high in foreign investment attraction 


    South Africa based investment bank graded the top 10 African countries with "dynamic" performance in attracting foreign direct investment.

    According to the report by Rand Merchant Bank, the first ranking South Africa led Nigeria, Ghana, Morocco, Tunisia, Egypt, Ethiopia, Algeria, Rwanda and Tanzania.

    The survey analyzed variables such as market size or Gross Domestic Product (GDP), economic growth (GDP growth forecasts over the next five years), and an operating environment index to gauge performance.

    "Rwanda and Ethiopia are the most unexpected countries in the top 10, but both deserve their elevated status. 
    Rwanda's rating reflects the excellent reforms of the past decade and Ethiopia's reflects its sheer size and phenomenal growth rates," said the report.
    Source: Globaltimes


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  • Haile becomes Total Ambassador

    The veteran and world-acclaimed runner Haile Gebreselassie has signed a three years partnership contract to maintain Total’s brand awareness in Ethiopia. “For me it is an honor to become the ambassador of total because Total is very well known and is always dedicated, associated with best quality and performance,’’ Haile praised Total’s brand at the signing ceremony. The former Total Ethiopia Managing Director Marc de Lataillade is also
    replaced by Lassina Toure.

    source : Capital

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  • Obamamania sweeps Kenya as resourceful businesses cash in on visit

    (CNN)Obama's visit to his father's homeland might be a short one, but Kenyan entrepreneurs are hoping that it will have long lasting benefits on the country's economic development.

    Preparations have been in full swing for weeks, with Nairobi abuzz with excitement and anticipation.

    The U.S. president will travel to the Kenyan capital later this week to address the sixth Global Entrepreneurship Summit. The immediate consequences of the visit will be clearly felt in the city, with airways and roads gearing up for a complete lockdown.

    Readmore: CNN



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  • China to Provide 700 Million USD Loan to Ethiopia

    Addis Ababa July 23/2015 China has pledged 700-million-USD loan to Ethiopia for its infrastructure and industrial development.

    Prime Minister Hailemariam Desalegn held talks today with a delegation led by Jiang Jianqing, Chairman of the Board of Directors and Executive Director of Industry and Commercial Bank of China (ICBC).

    The pledge was made during the occasion.

    China had earlier decided to extend 550 million USD loan for Omo Kuraz Sugar Project, it was learned.

    During the discussion, Hailemariam said Ethiopia needs governmental and non-governmental financial institutions that help it sustain its rapid growth.

    In this respect, the willingness of the Industry and Commercial Bank of China to work with Ethiopia coincides with the interest of the country, he stated.  

    The PM indicated that the request of Chinese financial companies to jointly work with Ethiopia is of mutual benefit to the countries and the partnership would be consolidated in this regard.

    Jiang Jianqing said on his part that the bank is ready to further collaborate with Ethiopia in industry and infrastructure development sectors in the future. - See more at: http://www.ena.gov.et/en/index.php/economy/item/1159-china-to-provide-700-million-usd-loan-to-ethiopia#sthash.ZvsguKM4.dpuf


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