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Al Amoudi’s wealthy drops : $15.3 to $8.1 Billion !

Al Amoudi’s wealthy drops : $15.3 to $8.1 Billion !

Ethiopia born Mohammed Al Amoudi drops to 159th in the latest Forbes list of the world’s richest people. Forbes estimates Al Amoudi’s wealth at $8.1 Billion, nearly half of his…

Nile Basin countries building bridges over Ethiopian dam

Nile Basin countries building bridges over Ethiopian dam

IN SUMMARY Tension among the five Nile Basin countries started building in October last year when Ethiopia’s Oromo people staged anti-government protest over land in which over 300 died, forcing the…

Why are cars so expensive in Ethiopia?

Why are cars so expensive in Ethiopia?

Owning a car for many Ethiopians – even those with ready cash to spend in one of the world’s fastest-growing economies – remains a pipe dream. “I have been saving…

Saudi official visits Ethiopian Renaissance Dam

Saudi official visits Ethiopian Renaissance Dam

An informed source said that the advisor to the royal court of Saudi Arabia, Ahmed al-Khatib, visited the Ethiopian Renaissance Dam while he was in the capital of Addis Ababa;…

Ethiopia completes €1.5bn power plant

Ethiopia completes €1.5bn power plant

Addis Ababa: Ethiopia inaugurated on Friday a €1.5bn ($1.57bn) hydropower plant along the Omo River in the country’s south that will nearly double total electricity output to 4,238MW. With a…

Ethiopia Set to Gain Transport Lifeline to Sea with New $4 Billion Railway

Ethiopia Set to Gain Transport Lifeline to Sea with New $4 Billion Railway

Construction of a Chinese-funded electric railway, linking Ethiopia’s capital along its main trading route to neighboring Djibouti, has been completed, providing the African nation with much-needed improved rail access to…

Toshiba to partner with Ethiopian power utility on geothermal development

Toshiba to partner with Ethiopian power utility on geothermal development

Japanese Toshiba Corp. signs comprehensive geothermal power partnership agreement with Ethiopian Electric Power, for the collaboration on project and personnel development. Eastern Africa remains an important market for Japanese turbine…

Ethiopia’s growth rate drops to single digit

Ethiopia’s growth rate drops to single digit

Economy slows down to single digit of 8.5 percent for first time in decade, Prime Minister Hailemariam Desalegn says (By Addis Getachew) ADDIS ABABA, Ethiopia Ethiopia on Tuesday said its…

Ethiopians Desperate to Keep Their Coffee Fix

Ethiopians Desperate to Keep Their Coffee Fix

ADDIS ABABA, Ethiopia—In the birthplace of coffee, a conflict is brewing over who gets Ethiopia’s best beans. The government of this East African country wants hard dollars to build infrastructure,…

Ethiopia: Double Digit Growth or Collapsing Economy?

Ethiopia: Double Digit Growth or Collapsing Economy?

(By Andualem Sisay) Addis Ababa — Ethiopian government’s increasing reliance on foreign loans is posing a serious risk of economic collapse, a renowned economist has revealed. “Take for instance China,…

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