Millennial year Round up

The dawn of the third Ethiopian millennium was double significant to the editorial team, journalists, production, sales circulation and distribution staff of Capital as the first week of September was also when we launched celebrations to mark our 10th year of establishment.
The year opened with a terrific bang and ended with a barely perceptible whimper. The inflated and unrealistically high expectations generated by the very historic occasion of witnessing the first day of the third Ethiopian millennium, the crippling inflation that has the nation at ransom, increased tension with Eritrea and Ethiopia's continued and costly sacrifices in a Somali nation that is not ready to reconciliation, and as the international community dithers on releasing our forces; Ethiopia's domestic situation - the worrisome developments in the lack of political rapprochement, sterner laws and regulations, including on the private press, NGOs, persistent food insecurity which is described with conflicting assessments… These and other factors, some global in scope, have smothered much of the new millennium fervor.
Our extra large issue of September 9th 2007 featured on its front page a night shot of Tele Medhanialem square recently graced by the glittering Edna Mall complex. This area was not alone to shimmer, what with an excited Addis Ababa ablaze with colored lights and bunting, and frantically preparing for the Big Night of September 10, 2007 and the breathless countdown…
Constructed round the clock in time for the new millennium, the $10 mln Grand Millennium Hall was the focal point of official ceremonies including the all night concerts beamed across the nation and the world thanks to ETV having finally entered the space age.
Still beyond the considerable distraction of the new Millennium hub-hub however, committed journalists did find important morsels of regular news items. Following are brief snippets of news and newsmakers which made our pages. As a whole, the chronology provides a condensed overall perspective of a 2000 E.C. of highs and lows.

Economy

The Ethiopian economy has been attracting considerable investment from all corners of the world. This upward direction in foreign direct investment has targeted a diverse scope of sectors and according to formal estimates the main beneficiary has been agri-business. In this respect, the first week of September revealed a massive 15 billion ETB, multi-faceted project being implemented by Sunrise Industrial, Construction and Trading Services Eth plc, a company led by Ethio-American investors, to develop 30,000 hectares - creating 40,000 jobs in Oromia and SNNPS (Southern Ethiopia).
Akalu Alemu, GPS Solutions, pioneers the practical introduction of GPS technology in Ethiopia. Meanwhile the same week, EEPco enters an agreement for a Birr 393 mln Ethiopia-Djibouti Power Interconnection Project.
As world oil prices start to reach unprecedented levels, interest in bio fuel technology has risen, making Ethiopia's vast acreage a foreign investors' magnet. Bio Massive AB of Sweden signs 1.5 bln ETB agreement to develop a bio fuel industry in Amhara region to produce up to 100,000 tons of diesel and ethanol annually. As Ethiopian skies increasingly open up to foreign carriers, the U.K.'s bmi international launches Addis Ababa London route.
With a nation wide new millennium hangover still thumping away, the second week of September brought news of North Holdings Plc investing a billion dollars on a coal fired cement plant in Dejen, Amhara region. Yemeni businessman Murtadha Abduljalil earmarks $220 mln on diverse investments, including real estate and aluminum. Ethiopian born Saudi tycoon Sheih Mohammed Al-amoudi is honored by the inaugural First Order of the Millennium conferred upon him by P.M. Meles Zenawi at a ceremony held at the National Palace.
On September 21, the Africa Hall at the UN/ECA was the historic venue where the nation expressed its profound appreciation of the Council of Elders instrumentally led by renowned academician and peace worker, Prof. Ephraim Isaac, which secured the freedom of opposition leadership, members and others, jailed subsequent to the May 2005 elections fallout.
Over 150 members of the congregation and leadership of The Abyssinia Baptist Church begin a working tour across the length and breadth of Ethiopia.
In what is a long overdue consumer electronics development, Nokia introduces Ethiopic (Amharic) interface handsets, to wide public acclaim.
As September closed, the Ethiopian Telecommunications Corporation (ETC) announces the soonest introduction of Third Generation (3G) mobile phone service, complementing an Internet bandwidth upgrade.
The Indian Capacity Building Initiative launches design workshop for 40 Ethiopian designers, selected by the Embassy of India. Dr. Neeti S. Bose coordinates the highly successful project.
The banking sector receives a surprise guest when Germany's second largest bank, Commerzbank, announces it is about to open a Representative Office in Addis Ababa.

October 2007

Chancellor Angela Merkel of Germany arrives Oct 4, accompanied by Klaus Peter Muller. Commerzbank Representative, Merkel holds discussions with Prime Minister Meles Zenawi and other high ranking officials.
On the economic front, on Oct 3, the Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) organizes a forum which highlights challenges posed by inflation in urban areas.
Dutch energy engineer Van Hal, and Ethiopian spouse Genet Abebe announce a 40mln USD, real estate project in the Bole area of Addis Ababa.
Later in the week, Ethiopia warmly welcomes John Kufuor, President of Ghana, who paid a two day official visit. The president met with P.M. Meles Zenawi, President Girma W. Giorgis and African Union Commissioner, Prof. Alpha O. Konare.
On Oct. 11, Boeing Aircraft Company reveals news of delivery delays on the 787 Dreamliner. In the same week, Tadesse Haile, State Minister of the Ministry of Trade and Industry discloses that the national leather industry is enjoying 11% per annum growth in exports. Tadesse cites that, a few years ago, over 90% of leather exports constituted unfinished product while currently this has improved significantly with 36% of all leather consisting of high value, finished products.
Prominently featured the next week was the alarming finding revealed by Yakob Yala, State Minister of the Ministry of Agriculture and Rural Development, at a Hilton Hotel panel discussion on livestock trade, that, the nation loses potential earnings of over $138 mln annually to cross border livestock contraband.
From the House of Peoples' Representatives comes news of a long required yet delayed regulation in the works, a draft proclamation implementing mandatory third party vehicle insurance.
With condominium construction hardly keeping pace with high demand, the Commercial Bank of Ethiopia (CBE) extends a 9bln birr loan to the Addis Ababa City Caretaker Administration and 6 other regions for use on low cost housing.
Bilateral ties with the sisterly Republic of Ghana move forward with a joint Ethiopian-Canadian initiative to export table salt to Ghana, with an investment outlay of 90 mln birr. In a descriptive analysis of booming investment activity, Capital carries a front page news feature citing a report by the Ethiopian investment Agency which discloses that in the month of September alone, 173 investment projects, half of them by foreign investors have been licensed.

November 2007

As the power crunch slowed the nation down to days of forced idleness and pitch black nights, on Nov. 2, the Grand Millennium Hall hosted the first ever Ethiopian Exporters Awards, presented to 40 star exporters in diverse sectors by the P.M.
Global Energy Pacific, a Nevada, U.S.A. based company managed by Israeli experts and applying Israeli technology announces gargantuan jantropha/castor bean bio-diesel project in SNNPR (southern region), on 30,000 hectares.
Long running inter-tribal conflicts in the Omo-River ease after a joint Pastoralist Communication Initiative (PCI) and Office for Coordination of Humanitarian Affairs (UNOCHA) manages to arrive at consensus among the various peoples.
Dashen Bank, announces it is to begin Mastercard payment system. Meanwhile the same week, the Embassy of the United States makes public that non-immigrant visa requests are to be processed on-line.
The third week of November brings news of more progress in the Franco-Ethiopian initiative to streamline the national criminal justice system. Real Time Dispatch System (RTDT), speeding up the judiciary processes, is launched, first in selected courts in Addis Ababa.
The parliamentary opposition holds a press conference which included the Union of Ethiopian Democratic Forces (UEDF) led by Prof. Beyene Petros, the Oromo Federalist Democratic Movement (OFDM) of Bulcha Demeksa and Temesgen Zewde's Coalition for Unity and Democracy (CUD), to decry the new National Electoral Board as old wine in a new bottle. Meanwhile, the Donors Group's, Ken Ohashi - World Bank Country Director for Ethiopia and Sudan, at the 5th PBS Country Review, states that Ethiopia's 3 year performance on the Protection of Basic Services (PBS) program is satisfactory.

December 2007

A mutually satisfactory conclusion was reached over the long running and highly publicized row between Ethiopia and java giant Starbucks, when on Nov. 28 at joint press briefing, P.M. Meles Zenawi and Howard Shultz, Starbucks CEO, declared all differences solved, with Starbucks agreeing to pay premium prices for Ethiopia's fine coffees.
Dec. 5 saw Ethiopia welcoming U.S. Secretary of State Condoleeza Rice, in a visit during which she held talks with P.M Meles Zenawi, Uganda's Museveni, Paul Kagame of Rwanda, Pierre Nkurunziza of Burundi and other African leaders, focusing on the Great Lakes Region, Somalia, Darfur and health challenges such as HIV/AIDS, tuberculosis and Malaria.
The national airline, experiencing a steep climb in passenger number and freight volume, announces it is ordering a pair of MD-11 aircraft as it awaits delivery of 10 Boeing 787 'Dreamliners'.
The National Fluoride Steering Committee at a meeting at the ministry of Water Resources reveals that intensive farming of flowers and other water intensive farming of flowers and other investment activity has raised the number of people exposed to fluoride ingestion in Rift Valley areas.
The Ethiopian millennial year coincides with the 60th anniversary of India's independence, as well as the 100th birth year of the great humanist and icon of non-violent political struggle- Mahatma Gandhi. Ethiopia and India ties have blossomed, with promising developments in many sectors. Speaking at a workshop 'Economic Policy of a Developing Country in a Globalizing World', organized by the Indian Embassy for the House Standing Committee on Trade and Industry, India's Ambassador Gurjit Singh discloses that 263 private companies from his nation are engaged in investments that aggregate capitalization of over $ 465mln.
December's second week saw in a rapid deterioration of a once rock solid unity of purpose, as opposition party Coalition for Unity and Democracy (CUD) splinters Chair Hailu Shawul (Eng) suspends five senior members. The CUD executive committee vows to reverse the chairman's decision.
Unfazed by political goings on and also by the acutely felt electric power shortage, Ethiopian Roads Authority (ERA) steams ahead with project after mammoth project. Director General Zaid Weldegebriel announces to journalists that ERA has budgeted over 35 bln birr for road projects in the concluded year alone.
Over 50 years with a large footprint in Ethiopia, oil giants Shell seeks a buyer, the latest that week being state owned Nile Petroleum Company (NPC) - registered in Ethiopia in 2003. NPC is to assume 190 Shell retail outlets scattered across the nation.
Never out of the year's headlines was Somalia, and especially the dire humanitarian situation, the description of which by certain U.N. organs prompted P.M. Meles Zenawi to advise… "it is bad enough but the situation could do with less hype," on a BBC exclusive monitored that week. Pity that the P.M. has not been as readily available to be interviewed by responsible private Ethiopian Media.
The concluded Ethiopian calendar year 2000 besides the severe new millennium hangovers - blackouts, out of control, across the board inflation and others, the first year of new millennium also witnesses an 'escalation of tensions along the fragile 1000 kilometer border with Eritrea. On Dec 26 a firefight erupts at Tsorena inside the Temporary Security Zone (TSZ).
There's an oddly satisfying feeling one gets in the sense of Ethiopia not yet being formally linked up to the global market place, actually that underdevelopment has its rewards. As major banks in the UK, USA, France and other countries began to collapse and the inevitable domino effect took away others, Ethiopia's banking sector keeps sprouting new wings.
December closed with establishment by an assembly of founding - shareholders, of Oromia International Bank.

January 2008
With nearly everybody muttering about 85 birr chickens and 1000 Birr sheep, Ethiopian Christmas (Dec 7, 2000EC) is seen by many as the most expensive ever.
This was not all, however, what worried M.P. Lidetu Ayalew, Chairperson of United Ethiopian Democratic Party (UEDP MEDHIN). In an exclusive interview with Capital he said that the democratic process is challenged.
Ethiopia-Cuba relations, it is often stated, are forged in blood. This unique relationship, post cold war has waxed and waned and the new western year brings fresh vigor by a high level delegation led by urban vice-president Esteben Lazo Hernandez. A monument is erected honoring fallen soldiers of both nations during the Ethio-Somalia Ogaden war (1977).
A shocked government and nation stood powerless against 10-14 hour blackout spells, an ironic twist as EEPCo chooses the week to announce ambitious plans for hydropower generation - plenty for even the lucrative export of surplus energy.
The same week, huge sugar industry complex as being built in Tendaho and Fincha get a massive injection of a $640 mln loan from India. It is that remarkable nation's largest ever loan extended to any country.
The nation's first ever commodities exchange mechanism is introduced by Eleni Gebremedhin, a senior economist with the World Bank and Chief of Party at the Ethiopian Commodity Exchange (ECX), by launching membership registration at an event attended by Addisu Legese, Deputy Prime Minister and Minister of Agriculture and Rural Development.
Reflecting as a most welcome result of the new, revitalized global outlook emanating from a Sarkozy illuminated Elysee Palace, a French parliamentary delegation headed by Jean-Louis Christ M.P and mayor of Ribeauville pays a two day visit on which France-Ethiopia and France-Africa relations respectively, featured on a busy itinerary that did make time to give Capital an exclusive interview.
The tail end of January sees a highly security conscious Addis Ababa busily preparing for the 10th A.U. Ordinary Summit of Heads of State held from January 31 to February 2. In local business news, the All Africa Leather Fair is opened by P.M. Meles Zenawi, boasting an impressive 23 nations participating with a total of 165 companies represented. The P.M. states his conviction "Ethiopia and East Africa will be the center of the global leather industry."

February 2008

The 10th A.U. Ordinary Summit of Heads of State convenes from January 31 to August 2. Although its general theme had been Industrial Development of Africa, the summit is beset by a range of critical situations - including Somalia, Chad, Cote d'Ivoire and not least the shock of the December post election violence of Kenya.
The A.U. also replaced its outgoing Commissioner the respected Prof. Alpha Omar Konare with Gabon's candidate Jean Ping, a victory which overjoyed Gabon's long serving leader, President Omar Bongo - whose smiling image graced our Feb. 3 front page.
As the public begins to pay up to Birr 3 for a substandard candle, news issues of the Eastern Africa Power Pool, which aims to interconnect the power grids of seven Comesa countries, including Kenya and Ethiopia.
High flier Ethiopian, the same week announces yet another enhancement to already world class training facilities, with the installment of the Boeing 737 Next Generation Flight Simulator. CEO Girma Wake praises cooperation of Ethiopian, Boeing Aircraft and simulator supplier, Flight Safety International, for the achievement.
The House of People's Representatives votes to ratify proclamation for third party vehicle insurance.
The daring gilded steel for gold scandal at NBE kept on getting deeper news that a police search at the residence of just one of the suspects uncovers a stash of 60 mln birr in cash.
Federal President of the Republic of Austria, Doctor Heinz Fischer, pays a three day state visit and in an interview exclusively to Capital, expresses great satisfaction at the outcome of high level discussions with Ethiopian officials, on many bilateral and regional issues including Kenya's December violence, Chad and Darfur.
On February 26, Tesfaye Birru, former managing director of the Ethiopian Telecommunications Corporation (ETC), is set to appear in court, along with 12 co-defendants, to answer corruption charges.

March 2008

Dubbed 'Goldengate' by this paper, the gilded steel for gold scandal at the National Bank of Ethiopia keeps percolating. The Federal High Court, First Criminal Bench on Nov 29 grants the Federal Ethics and anti-Corruption Commission a 12 day period to further investigate and in due course press charges, on a now growing list of suspects.
The Human Development Index (HDI), a rather sophisticated system of benchmarking national progress, is again not kind to Ethiopia, giving a rank of 169 of 177 countries in the report.
With Ethiopian export trade leaping in both volume and cumulative value, the dire lack of adequate competitiveness of domestic industry was highlighted on a March 6 awards ceremony for eight enterprises selected for having conformed to International Standardization Organization (ISO) 9001 Quality Management Standard, organized by German certification agency, ZDH Zert-GMBH and the Ethiopian Quality and Standards Control Authority.
The same week, an internecine row surfaces when the Commercial Bank of Ethiopia (CBE) files suit against the Ethiopian Customs Authority, CBE charging it has lost millions of birr due to alleged improperly entered bills of lading.
Frantic it seems to soothe a power starved economy, it is disclosed that EEPCO envisions to expend a whopping $13.1 bln over the next decade on hydroelectric expansion.
Results of a business process re-engineering (BPR) convince the Council of Ministers to approve the re-structuring of the Ministry of Revenues into an authority.
Meanwhile that week, Hiwot Transport and Technical Services S.C 98% owned by the Ethiopian Red Cross Society goes under inventory to lead an eventual dissolvement.
In economic developments, the National Cement Company (NMC) signs an agreement with the Ministry of Mines and Energy, to exploit gypsum, in limited quantity in Aysha-Dewello, Somali Regional State and in larger volumes at Minjar-Shenkora, Amhara Regional State. NMC is the former Dire-Dawa Cement.

April 2008

April Fools Day came and went, many of us having used the opportunity to pull a few pranks. The ever worsening power shedding was not part of the April Fools Day pranking, and when word broke of a serious and unforeseen crisis confronting the Tekeze Hydropower project in northern Ethiopia it is more than alarming. EEPco General Manager, Mihiret Debebe tells Capital that a geological feature discovered well after major works were underway will incur an additional 400 mln birr to rectify.
April's second week has Capital in New Delhi, India, to attend complementary events and cover the historical India-Africa Forum Summit, which opened April 8 and closed the next day after achieving a considerable result - the signing if the groundbreaking Delhi Declaration.
In domestic affairs, industrial relations news emerges of a planned Prime Ministerial discussion panel with officials of the Confederation of Ethiopian Trade Unions (CETU) aiming to address issues and problems of labor union members.
The Addis Ababa City Infrastructure Development Office announces sudden and immediately effective ban on the issuance of construction permits. The office does not specify reasons behind the indefinite ban but observers state it is aimed at curbing alleged illegal land grabs committed during and after a certain election's troubles.
The week opened with the city and nation still grieving over the deaths of at least 3 and for over a dozen other injured by a cowardly act of terror when on April 14 bombs exploded at two separate NOC gas stations.
In parliament MP Gebru Gebremariam of the United Ethiopian Democratic Forces (UEDF) proposes the establishment of a ministry mandated for the Nile River, citing the high level of awareness about the Nile by Egyptian government and society, in remarkable contrast to Ethiopia's lax engagement with the important river.
Capital jets across Africa to Accra, Ghana to monitor the XII United Nations Conference on Trade and Development (UNCTAD), where UN. Secretary General Ban ki Moon sternly cautioned, "Make no mistake, we have to have fair play in world trade, of globalization benefiting each country of the world."
Our intrepid reporter manages to bag a rare interview - that of one of Africa's most respected statesmen, Ghana's President John A. Kufuor.
As the leather sector gains momentum from favorable conditions, a 100 mln birr finished leather products factory Crystal Tannery is announced.

May 2008

As the economy is blighted by insipid inflation, P.M. Meles attends a May 12 conference with the business community organized by the Ethiopian Chambers of Commerce and Sectorial Associations (ECCSA) at which the P.M. responded to various concerns of the business community, including investors.
The P.M in a report to the House of people's Representative, is recalled as stating two primary objectives - to sustain the rapid growth registering of recent years and to continue to maintain growth levels of not less than 10% per annum.
A high level foursome - Sendeku Araya EEPCO Head of P.R, Mihiret Debebe, EEPCO G.M, Alemayrhu Tegenu, Minister of mines and Energy, and Asfaw Dingamo, Minister of Water Resource disclosed on May 9 bleak tidings - power outage periods will increase by a half day more, bringing five days off in a two week period.
Handed over to a caretaker administration led by Provisional Mayor Berhane Deressa, Addis Ababa reverts to 'regular' mode with the election of former President of the Oromia Regional State president and later Defense Minister Kuma Demeksa to mayorship.
In what must be the highest ever earnings by any sector of the economy, the Ethiopian Telecommunications Corporation (ETC) releases news of profits of Birr 921.3 mln - in just the nine months of the fiscal year, 30% above the same previous period. Ethiopian also registers a record profit year, collecting Birr 484 mln or nearly a third higher than the preceding year.
On May 18, in a bid to offset rampaging inflation, the P.M, announces the lifting of VAT and turn over tax on grains, as of the following day.
Ethiopia's per capita vehicle accident rate, the world's deadliest is among other considerations for the Ministry of Transport and Communications (MoTC) to prepare to implement a ban on the importation of all vehicles manufactured more than five years ago.
June 2008

Beset by manipulated import and export trade documentation, the National Bank of Ethiopia (NBE) reveals that such fraudulent activities for the purpose of evading payment of due taxes will entail up to a 25 year prison sentence.
The Addis Ababa Exhibition Center (AAEC) at Meskel Square is probably the busiest venue in the city. That week the AACE features the 3rd Turkish Products Exhibition with an official opening by Tadesse Haile, State Minister of the Ministry of Trade and Industry.
The same week Capital features an exclusive interview given by H.E President Girma Wolde Giorgis after the environmentalist president presides over the establishment of the Consortium of Population, Health and Environment (CPHE), in Ambo town.
The private financial sector and parliament are abuzz over a draft formulated by the National Bank of Ethiopia, which among other stipulations would allow the state the right to borrow unlimited funds, as well as proclamation 471/98 which transfers NBE's accountability from the Council of Ministers to the Prime Minister.
The nascent Unity for Democracy and Justice (UDJ), under formation by former Coalition for Unity and Democracy (CUD) members, and led by chair Justice Birtukan Medeksa, informs Capital that its founding congress, scheduled June 13 at the Imperial Hotel, has been banned.
The UDJ eventually holds a founding congress at a 400 strong gathering and approves a 22 page party platform, by-laws, party anthem, and elects 60 permanent and fifteen alternates on a National Council.
The venerable quencher - Ambo Mineral Water, considers South African giant, SAB Miller Beverage for partnership, rationalizing it requires huge investment to upgrade this hugely popular mineral water plant.
The Ministry of Revenues (MoR) announces it is soon to implement a system allowing for tax refunds, among other recommendations of tax reform the MoR has proposed to government.
Report and counter reports as to the true extent of the food insecurity being caused by drought, high inflation and other corners fill the print and electronic media. Inflation is pushing the high thirties…
Meanwhile, Addis Ababa University brings a little cheer when Professor Abiy Ford announces the AAU is launching a School of Cinema, at a workshop aiming to bolster Ethiopia's young but vibrant film industry.

July 2008

Ethiopia's agro-industrial premise has been the year's darling for investment interest. Dutch company Africa Juice, sources disclose is negotiating with potential partner.
Privatization and Public Enterprise Agency to develop 1200 hectares in the upper Awash Valley, 146 km from Addis Ababa, at Merti, famed for its canned marmalade and other products.
Hard on the heels of such good tidings comes the 'July Shocker", news that the Ethiopian Government has been notified that as of August 15, 2008, Djibouti would raise port tariffs and other service charges by up to 15% variously. Ethiopia registers its great displeasure and high level negotiations commence.
Pioneer in oil products wholesale and retail, Shell Petroleum Ethiopia and Djibouti LTD is acquired by Oil Libya.
On July 9, at the office of Abadula Gemeda, Oromia Regional State president, Sultan Ahmed bin Sulayem, chairperson of Dubai World signs on to invest several billion dollars in oil pipelines and on rehabilitating the moribund Ethio- Djibouti railway.
Mr. Premduth Doongoor, Ambassador of Mauritius to Ethiopia, Kenya, Uganda, A.U and UN/ECA, proposes a bold plan to form an organization of non-oil producing countries (ONOPC).
President Ismael O. Guelleh of Djibouti conducts visit and is presented by Oromia Regional State with a lakeside location on which to build a private residence.
Melaku Fanta of the former MoR is appointed to head the reformed Revenue and Customs Authority.
Tata International Limited, one of Asia's largest conglomerates announces the opening of an Ethiopia office, following a visit by Tata president, Ram Balasubramaniam.
Haim Devon, Deputy Director General, Israel Ministry of Foreign Affairs, Head of Israel International Cooperation agency MASHAV, and a former Ambassador to Ethiopia, arrives for high level talks and to put his signature on a tripartite MoU with the Ethiopian Ministry of Agriculture and Rural Development to raise agricultural productivity across the nation.
Djibouti First Lady, H.E. Khadra Mohammod visits Ethiopia and particularly the town of Sebeta, a center of the booming flower industry, and receives a 20 hectares plot on behalf of her son to engage in the flower farming.

August 2008

With tens of thousands of Ethiopians leaving yearly to seek their destiny abroad, remittance payments have skyrocketed to reach the symbolic milestone figure of $ 1 bln.
Some good news for a change, when the week reveals that the feared Djibouti port tariff increment, which had been scheduled to be effective as of August 13 has been indefinitely put on hold, after intensive consultations between the highest levels of the respective nations.
Arkebe Oqubay, the highly popular former mayor of Addis Ababa and currently State Minister of the Ministry of Works and Urban Development (MoWUD), in an exclusive interview with Capital discloses plans to contract one million dwelling units over the next decade.
The National Election Board of Ethiopia (NEBE) at last accredits UDJ, after a series of starts and stops in the process.
Mr. Rafeeque Ahmed, president, All India Skin, Hide, Tanners and Merchants Association leads a 14 member working delegation around the Ethiopian leather industry and states his association is embarking on a wide range of investment where 'the world's best leather is found', i.e. Ethiopia.
With the end of the millennial year in plain view, more Indian investment is announced, this time by the Chadha Group, which disclose earmarking about 200 mln USD on sugar, paper and ethanol projects.
In a welcome albeit belated development, the Privatization and Public Enterprise Agency (PPESA) announced that eight properties nationalized sans-decree by the Derg regime are to be returned to their rightful owners.