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Updated March 26, 2007

DBE takes over export guarantee bond
NBE sets loan record

By Eskinder Michael

The Development Bank of Ethiopia (DBE) has taken over the export loan guarantee scheme from the National Bank of Ethiopia (NBE).
According to the report presented to parliament, the bank’s six month performance led the government to transfer the scheme from the NBE to DBE. Since the decision was taken in February, the NBE has been making necessary preparations for the shift.

NIB UP 100 mln birr

By Andualem Sisay

Shareholders of Nib International Bank (NIB) decided to raise the paid-up capital of the bank by 100 mln birr, at an extraordinary session held yesterday, March 24, 2007 at the Sheraton Addis.
“The great demand by the general public to buy NIB shares, coupled with the ready willingness of the bank to develop and expand its activities necessitated an increase in paid-up capital from 260 million to 360 mln birr,” said Lema Haile-Giorgis, Board Chairman of NIB. “This is the right time to offer NIB shares for sale.”

Fagat receives land for cement factory

By Groum Abate

Fagat Promotion and Internet animate Enterprise has signed an agreement and received land to establish a cement factory valued at more than 500 million birr in Degam district of North Shewa Zone, Oromia State.
According to the official website of the Oromia Regional Government, Fagat Promotion and Internet animate enterprise received 32.5 hectares of land in Degam district of North Shewa Zone, and have commenced activities to establish a cement factory.

Local News

Residents celebrate thirsty water day

420 mln in export earnings
Unrest in Somalia reason for slump in Khat export

Wonji Sugar Factory flooded

Building confidence of ownership
Issues related to rural land

Art & Culture

‘Cherakersh’
In praise of Ethiopia’s Leading Lady

Rotaract Abugida assists an exhibition

“Anqelba” at Asni Gallery


Interview

Luleged Reta

The most important event in the history of Ethiopian art was the establishment in 1941 of a Department of Fine Arts in the Ministry of Culture. First administered by sculptor Abebe Wolde Giorgis and with its assistant director, painter Agegnehu Engida, the Department in fits and starts, led to the birth of the Addis Ababa Fine Arts School.
The AAFAS is virtually synonymous with the well known modernist painter and educator, Ale Felege Selam Heruy. Ato Ale, or Mr. Ale, as his students call him, came from a family of eminent artists and was also an enterprising educator who organized a fundraiser attended by the imperial family. The 76,000 Ethiopian dollars (38,000 US) he managed to collect, he presented to the Emperor and beseeched him to help realize his dream of opening an art school. Kebede Michael was entrusted with the project by an appreciative Haile Sellassie I. Supervised by Ale Felege Selam Heruy and architect Michael Teodros, the school was officially opened by the Emperor himself, who in a now historic address said:
“We admire the work of the Creator not only for the things he provides us to nourish our bodies but also for the beauty that we observe around us. It is this aspect of creation that we can truly enjoy if we look and search beyond the material aspect of creativity.

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Entreprenuer Profile is Capital’s youngest page and is already eliciting warm reviews. We have received dozens of e-mails, scores of letters and a clamor of phone calls of appreciation, suggestions and ideas which will all contribute for a better Entrepreneur Profile strengthened by your continued participation.

		The history of resistance to the Italian Fascist invasion and occupation (1935-1941)
		Professor Richard Pankhurst is the son of Miss Sylvia Pankhurst, the great British suffragette and advocate of Ethiopia during and after Fascist Italy's occupation of Ethiopia. Professor Pankhurst taught for many years at Addis Ababa University and has written widely on Ethiopian history and culture. He is also the founder of Addis Ababa University's Institute of Ethiopian Studies and a founding member of the Axum Obelisk Return Committee and the Association for the Return of the MaqdalaEthiopian Treasures (AFROMET)
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Europe 's role in promoting democracy

Democracy and the Social Question II: In the third lecture of this academic year Ambassador Timothy Clarke spoke about Europe‘s commitment for democracy within and outside Europe and the EU‘s objectives in a partnership for developing African democracy. CAPITAL, media-partner of this series, publishes the Ambassador's speech and reports from the discussion that followed.