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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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  • Kenya: No Changes to Obama Schedule in Kenya After Leak - White House

    Washington, United States — US President Barack Obama does not need to reshuffle his visit to east Africa after a posting of some details of the trip were made public in Kenya, a White House spokesman said.

    Responding to a question about Kenya's Civil Aviation Authority issuing details of the president's arrival time to the country that became public, spokesman Josh Earnest said there is not enough cause for concern to change Obama's schedule.

    "The details of the president's schedule that are critical to keeping safe are details that have not been disclosed publicly at this point," he told reporters.

    "We do not believe at this point that a scheduling change or any change to the president's itinerary is necessary."

    Earnest pointed out that traveling to Kenya was not like going to war zones such as Iraq or Afghanistan, where all schedule details are kept tightly under wraps.

    "Extensive amounts of information about the president's schedule have already been distributed," he said.

    Obama makes the first presidential visit to Ethiopia and his first to Kenya while president.

     

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  • 5 Ways Ethiopia Will Surprise You

    Last January, I was unexpectedly gifted with a few extra weeks of vacation time, which inspired me to stretch a layover in Addis Ababa into a two-week trip. I knew very little about Ethiopia other than: a) The legendary Queen of Sheba is often associated with the ancient region that now encompasses modern-day Ethiopia, and b) In the 1980s, images of malnourished Ethiopians became the symbol of cause-related anti-famine efforts. While poverty and hunger are still a huge issue in the country, especially in rural areas, in other parts of Ethiopia an economic boom and cultural renaissance is in full swing. Here are just five ways Ethiopia surprised me:

    1. Addis Ababa is a boom town.

    2. There are restaurants that look like a set from Mad Max.

    3. The jazz scene is hot, hot, hot.

    4. You can easily hop back to the 17th century, or earlier.

    5. That famous coffee comes with a ritual.

    Source: www.afar.com

     

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