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U.S. $1 Million Limalimo Lodge to open in 2015 at Simien Mountains

Addis Ababa ,July 15/2014, African Wildlife Capital, a mission-based investment company has signed agreements with a British-Ethiopian venture to build a world-class boutique hotel in Ethiopia’s Simien Mountains National Park, one of More »

Meskel Ethiopia

ሰበር ዜና – የመስቀል ክብረ በዓል የዓለም ቅርስ ሆኖ በዩኔስኮ ተመዘገበ

የኢትዮጵያው የመስቀል ክብረ በዓል በዓለም ቅርስነት መመዝገቡን ዩኔስኮ አስታወቀ፡፡ ዩኔስኮ የመስቀል ክብረ በዓልን (Commemoration feast of the finding of the True Holy Cross of Christ) በዓለም ቅርስነት መመዝገቡን ኅዳር 25 ቀን ይፋ More »

Ethiopian government signs $865 mln railway financing

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(Adds details of ECA financing, banker’s quote)

By Sandrine Bradley

Oct 27 (Reuters) – The Ethiopian government has closed a $865 million financing package that funds the development of some of the country’s railway infrastructure.

The proceeds of the financing will be used to build the Awash-Weldia/Hara Gebeya Railway Project, one of the key railway corridors that will form part of the National Railway Network of Ethiopia.

The financing is split between a $450 million seven-year commercial loan, which includes a syndicate of lenders from Europe, Africa, the Middle East and the US, and pays 375 basis points over Libor.

A $415 million 13-year loan backed by the Swedish Export Credit Guarantee Board (EKN), Eksport Kredit Fonden (EKF) and Swiss Export Risk Insurance (SERV) export credit agencies is also included.

Credit Suisse acted as co-ordinating commercial facility arranger and export credit agency facility lead arranger. Some of the loans have already been disbursed.

Ethiopia’s GDP Reaches 1.5trillion Birr

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The Ministry of Finance and Economic Development has announced that Ethiopia’s Gross Domestic Product (GDP) has reached 1.5 trillion birr, and registered an estimated 10.3 percent economic growth last Ethiopian fiscal year (EFY).

The State Minister, Dr. Abraham Tekeste, said Ethiopia has shown rapid and stable macroeconomic growth and had managed to increase per capita income to 632 US dollars from 558 US dollars the previous fiscal year. Inflation remained in single figures.

Dr. Abraham said domestic saving reached 22.5% of GDP, and the rate of investment and export of goods and services accounted for 40.3% and 11.7% percent respectively. The State Minister said the industry sector grew faster than agriculture and service sectors, registering 21.2% annual growth, compared to agriculture (5.4%) and service (11.9%) during the past fiscal year.

The overall share of agriculture in the national economy decreased from 42% in 2005 EFY to 40% in 2006; industry grew to 14%, up from 13%. The service sector reached 46%, up from 45%. Ethiopia Fiscal Year 2006 was the 11th consecutive year in which Ethiopia’s economy grew on average by 10.9 percent.

The State Minister said agriculture, industry and service registered 9, 13.8 and 12.2 annual growth respectively. He added that the low performance of exports in the economy, especially in the manufacturing sector, was, however, a challenge to the country during the period.

Amnesty Says Ethiopia Detains 5,000 Oromos Illegally Since 2011

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Ethiopia’s government illegally detained at least 5,000 members of the country’s most populous ethnic group, the Oromo, over the past four years as it seeks to crush political dissent, Amnesty International said.

Victims include politicians, students, singers and civil servants, sometimes only for wearing Oromo traditional dress, or for holding influential positions within the community, the London-based advocacy group said in a report today. Most people were detained without charge, some for years, with many tortured and dozens killed, it said.

“The Ethiopian government’s relentless crackdown on real or imagined dissent among the Oromo is sweeping in its scale and often shocking in its brutality,” Claire Beston, the group’s Ethiopia researcher, said in a statement. “This is apparently intended to warn, control or silence all signs of ‘political disobedience’ in the region.”

The Oromo make up 34 percent of Ethiopia’s 96.6 million population, according to the CIA World Factbook. Most of the ethnic group lives in the central Oromia Regional State, which surrounds Addis Ababa, the capital. Thousands of Oromo have been arrested at protests, including demonstrations this year against what was seen as a plan to annex Oromo land by expanding Addis Ababa’s city limits

No Ebola detected in Ethiopia: spokesman

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By Abebech Tamene, Wednesday, August 13, 2014

ADDIS ABABA – Ethiopia has denied reports of the spread of Ebola in the country, saying steps were being taken to raise awareness about the deadly virus.

 

“So far no Ebola case was reported in Ethiopia,” Abel Yeshaneh, spokesperson for the Ethiopian Public Health Institute, told Anadolu Agency on Wednesday.

 

Yeshaneh said the Ethiopian authorities had adopted measures aimed at enhancing their ability to detect Ebola infections, adding that health workers were being trained to combat a possible outbreak.

 

“So far 300 health workers drawn from different health institutions in Addis Ababa have already received training and they will in turn give training to others,” Yeshaneh said.

 

According to the spokesperson, the training focuses on the causes and symptoms of Ebola, along with methods of prevention.

 

“Health professionals working in different health facilities in regional states will arrive here next week to undergo similar training,” he said.

Ethiopia done with 35.8 percent of construction at controversial dam

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Ethiopia said Friday it had completed 35.8 percent of construction at its Renaissance Dam.
A picture taken on 28 May 2013 shows the Blue Nile in Guba, northwest Ethiopia, during the river’s diversion ceremony

The announcement comes just weeks before Ethiopia is set to resume negotiations in Sudan with Egypt, which opposes the project. Egypt fears the Dam will diminish the flow of Nile water to its cities and has urged Ethiopia to conduct more joint studies on the project.

An official at Ethiopia’s national council, which supervises the project, was quoted by Anadolu Agency as saying that his country “is working hard to finish the project on time.”

“There is no shortage in funding and the Italian company running the project has confirmed this,” the official added.

The Dam is scheduled to be ready by April 2017

Ethiopian inflations slows to 6.9 pct in year to July – stats office

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ADDIS ABABA Aug 8 (Reuters) – Ethiopia’s inflation rate dropped to 6.9 percent in the year to July from 8.5 percent the previous month, due to a drop in both food items and non-food products, official data showed on Friday.

The Central Statistics Agency said food price inflation slowed to 5.8 percent in the year to July from 6.2 percent in June, owing to a drop in bread and cereal prices.

Inflation of non food items also eased to 8.2 percent in July from 11 percent the previous month. (Reporting by Aaron Maasho; Editing by Drazen Jorgic)

UK summons Ethiopian diplomat over opposition official’s arrest

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(Reuters) – Britain summoned Ethiopia’s chargé d’affaires on Monday to raise its concerns about the arrest of a British national being held in Ethiopia who has been sentenced to death over his involvement with an opposition political group.

Andargachew Tsige was sentenced to death in 2009 in absentia and another trial handed him life behind bars three years later. He was arrested in Yemen earlier this year and extradited to Ethiopia. [ID:nL6N0PK3GT]

On Monday, Britain summoned one of Ethiopia’s top diplomats in London to meet Foreign Office minister Mark Simmonds, who expressed “deep concern” that Andargachew had not been granted access to the British consulate.

“Mr Simmonds asked the chargé to urge his government to deliver on previous commitments to provide consular access without further delay, and to provide assurances that they do not intend to carry out the death penalty imposed in absentia,” a statement from the Foreign Office said.

Andargachew, secretary-general of the Ginbot 7 group, was among 20 opposition figures and journalists charged with conspiring with rebels, plotting attacks and attempting to topple the government.

(Reporting by William James; Editing by Andrew Osborn)

Addis Guday,Lomi,Enque,Fact,Jano Magazines and Afro-Time Newspaper Facing Criminal Charges

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Ethiopia Ministry of Justice stated that the six periodicals and their publishers to be charged due to “repeated acts of incitement and dissemination of false rumors intended to cause a violent overthrow of the constitutional order and to undermine the public trust on the government”.
The five magazines and publishers facing charges are:

-Addis Guday Magazine, published weekly by Rose publishing P.L.C.;

- Lomi Magazine, published weekly by Dadimos publishing P.L.C;

- Enque Magazine, published two-weekly by Alemayehu publishing P.L.C;

- Fact Magazine, published weekly by Yofa publishing P.L.C; and

- Jano Magazine, published two-weekly by Asnake publishing P.L.C;

-Afro-Time Newspaper