The high cost of doing business and lack of sector-specific incentives is costing Kenya foreign direct investment in the flower industry.The scenario is in favour of Ethiopia where the government provides electricity and constructs roads for investors.
This, coupled with low interest government loans and favourable climate has seen the country’s flower industry grow to cover 9,000 hectares in five years, compared to Kenya’s 200,000 hectares built over the past 50 years.
Read more: Ethiopia overtakes Kenya in horticulture frontier
AUG 29, 2010 | Reuters
CAIRO - Egypt's ASEC Company for Mining (ASCOM) (ASCM.CA: Quote) said on Sunday it had found two gold mining targets in an Ethiopian concession with enough tonnage and grade potential to suggest an economic discovery is possible.
ASCOM plans to start drilling on the 800-square-kilometre Asosa concession in Western Ethiopia in October, it said in a statement.
The company, 39-percent owned by Egyptian private equity firm Citadel Capital (CCAP.CA: Quote), also said preliminary satellite investigations had identified "numerous" exploration targets in its 3,000-square-kilometre concession in Sudan.
Read more: Egypt's ASCOM says found gold targets in Ethiopia
Aug 20, 2010 | Fortune
Humbled by an electoral victory beyond his imagination, Prime Minister Meles Zenawi had pledged to revise the budget proposed during the concluding Ethiopian fiscal year to come up with a big surprise that his administration brought to the public in the form of the Growth and Transformation Plan.
Projected to have a cost of up to one trillion Birr, a projection still on the drawing board, the administration seeks to either register an annual growth rate of 11pc or, if possible, double the current growth.
Aug 16, 2010 | Reuters
ADDIS ABABA - Ethiopia's year-on-year inflation rate slowed to 5.7 percent in July from 7.3 percent in June, helped by easing food prices, official data showed on Monday.
"The food index showed a decline of 1.5 percent," the Central Statistical Agency (CSA) said on its website.
Non-food prices generally increased. "The prices of construction materials, clothing and footwear, furniture and personal care products are on the rise," the CSA said.
Coffee Review, an international guide to specialty coffee, recently gave Coffea Roasterie's Ethiopia Nekisse a top review.
The medium roast coffee received a score of 96 out of 100 points from Kenneth Davids, co-founder of Coffee Review.
The score is the highest of the year so far, according to Coffea co-owner Jenna Aukerman. Co-owner Jon Brudvig roasted the Nekisse.
"He used a certain roast profile to let the Ethiopia shine," Aukerman said.
Read more: Coffea Roasterie's Ethiopia Nekisse earns high score
August 13, 2010
By Barry Malone (Reuters) – Ethiopia’s Prime Minister Meles Zenawi said on Wednesday he would look into claims Ethiopian coffee exporters have been defaulting on contracts since U.S. arabica futures hit a 12-1/2-year high.
Sources at the Ministry of Agriculture in Addis Ababa told Reuters they were aware of several complaints from European buyers and were investigating how widespread the defaulting might be.
Meles said he had not previously been aware of the claims but that he would investigate them.
Read more: Ethiopia PM says will probe coffee export defaulting
Disputes with the Djibouti aviation authority are delaying 64-year-old route between Addis Ababa and Djibouti.
Ethiopian Airlines could be close to settling a dispute with the Civilian Aviation Authority in neighboring Djibouti over the type of aircraft used by the airline, according African news portal Afrik News. Ethiopian Airlines is hoping to use turbo-propelled aircraft, while the Djibouti authority is pushing them to use jet-propelled planes for flights to that country. The two parties have recently entered negotiations.
The dispute started when Ethiopian Airlines wanted to introduce eight Q-400 turbo-propelled aircraft purchased from Canadian manufacturer Bombardier as part of its regional and international expansion plan. Djiboutian authorities, however, refused to let the new planes land.
Read more: Ethiopian Airlines negotiating return to Djibouti
ADDIS ABABA, Aug 08, 2010 (Xinhua via COMTEX) - Trading Markets
A Chinese Company, Huang Shan Cement plc of the Guangdong Chuanhui Technology Development Group Co. Ltd. on Sunday officially commenced production of clinker and cement in Mojo town of the Oromia Regional State about 75 km south of Addis Ababa, the capital of Ethiopia.
The Group invested in the cement manufacturing company in 2009.
Speaking at the official launching ceremony of the production, Gu Xiaojie, Chinese Ambassador to Ethiopia, said the operation of Huang Shan Cement Clinker Production line is an excellent showcase for the successful cooperation in the field of investment between China and Ethiopia.
Read more: Chinese company starts clinker, cement production in Ethiopia
By Barry Malone - August 6, 2010 | Reuters
ADDIS ABABA, - Resurgent coffee sales and diversification into other products lifted Ethiopia's exports to a record $2 billion in 2009/2010 from $1.5 billion in the previous year, the trade ministry told Reuters on Friday.
"Coffee has bounced back to $528 million this year," trade ministry spokesman, Amakale Yimam, told Reuters.
Ethiopia's export total fell well short of the $2.9 billion predicted by Minister of Trade, Girma Birru, in an interview with Reuters in November.
But Amakale said the Horn of Africa nation projected $3 billion in export revenue for 2010/2011 based on growth in new export commodities.
Read more: Coffee helps boost Ethiopia exports to $2 bln -ministry
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- Ethiopia triples gold revenue to $300 mln
- Ethiopian Gold export shines
- Ethiopian Exports Rose 37% to $2 Billion Last Year, Ministry of Trade Says
- Ethio-German Joint Venture On Wind Energy Development in Ethiopia
- Ethiopia Secures 120 Million US Dollars From Products Exported Via Humera
- NOC inaugurates 43 mln Birr worth aviation fuel depot, aircraft refueling facility
- Ethiopia Plans Power Exports to Sudan After Rains Boost Dams
- Enterprise Exports 515 Million Birr Coffee
- Petronas May Begin Ethiopian Gas Exports in 2015, Ministry Says
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