US Retailer Walmart in Ethiopia : Negotiation Underway

Washington, DC. – Walmart, the US multinational retailer corporation that runs chains of large discount department stores and warehouse stores, and the Ethiopian government are conducting negotiating on the question of the former... Read more »

The 2012 Black Billionaires List, Al-Amoudi Comes to Top

Nigerian billionaire Aliko Dangote is no longer the richest black person in the world. He’s been ousted by Ethiopian-born Saudi billionaire Sheikh Mohammed Al-Amoudi who is worth an estimated $12.5 billion. That’s... Read more »

Saudi Billionaire Mohammed al- Amoudi to Invest $3.4 Billion in Ethiopia in 5 Years

(Bloomberg) — Derba Group, an amalgam of three Ethiopian companies owned by Saudi billionaire Mohammed al- Amoudi, said it plans to invest 59 billion birr ($3.4 billion) in seven industrial projects over... Read more »

Ethiopian Customs to Start Electronic Tracking System

The Revenues and Customs Authority of Ethiopia is to launch an electronic cargo tracking system on the road between Addis Ababa and Port Djibouti. The effort, which will commence in two weeks,... Read more »
Ethiopian tantalum

Ethiopia Invite Chinese and Germans Investors for Stake in Tantalum Mine

(Bloomberg) — Ethiopia’s government is courting investors from at least four countries including China and Germany to buy a stake in the state-owned company that operates what it says ranks among the... Read more »
Ethiopian castel vineyard

Castel to Export Ethiopian Wine

In an effort to move beyond just coffee, Ethiopia now exports leather, vegetables, flowers, and yes, the occasional bottle of wine. Addis Ababa, Ethiopia About three hours south of the Ethiopian capital,... Read more »

Ethiopia’s tribes cry for help – Al Jazeera

A drive to become a world leading sugar producer threatens the livelihoods of thousands of people in rural areas. Addis Ababa, Ethiopia – The Lower Omo Valley in south-western Ethiopia is a vast... Read more »

Ethiopia’s Biggest Cement Factory Inaugurated

Derba MIDROC Cement Plc, Ethiopia’s biggest cement factory, was inaugurated here on Sunday in the presence of Prime Minister Meles Zenawi and other invited guests at a ground-breaking ceremony held with in... Read more »
Ermyas Amelga

Ermyas Amelga Banned from Banking Industry

The National Bank of Ethiopia (NBE) has notified Ermyas Amelga, founding shareholder and former board chairman of Zemen Bank— the only one-branch bank in Ethiopia— that he has banned from holding a... Read more »

Ricardo to produce engines for Lifan’s SUV in Ethiopia

The Reporter – Ricardo, an engine maker giant based in the U.K., has partnered with Lifan, a Chinese car maker, to produce the engine for Lifan’s sport utility vehicles (SUV) expected to... Read more »