Chinese Med-Tech Companies Express Interest to Invest in Ethiopia

A Chinese investment delegation, consisting of representatives from giant Chinese medical technology firms, expressed their keen interest to positively contribute to Ethiopia's healthcare sector through experience sharing and knowledge transfer, once their companies commence operations in the Ethiopia.

Aklilu Hailemichael, Ethiopia's State Minister of Foreign Affairs, received the delegation in Addis Ababa on Wednesday.

The state minister, on the occasion, called upon the Chinese technology firms to delve into the multitude of investment opportunities Ethiopia has to offer. Mr. Aklilu specifically extended an invitation to involvement in the medical technology sector.

"The Ethiopian Ministry of Foreign Affairs, in partnership with the Ethiopian Ministry of Health and other relevant institutions, will support Chinese firms to invest in the medical technology sector," Mr. Aklilu said.

Furthermore, the representatives noted that Chinese high-end medical equipment would help Ethiopia's efforts to modernize its healthcare sector, with particular importance to the treatment of cancer and related diseases.

Source: http://www.xinhuanet.com/english/2019-05/24/c_138086570.htm

 

SkyWay Aims to Bring Cable Cars to Ethiopia's Skies

SkyWay Investment Group (SWIG), a firm based in Belarus, aims to bring cable transport to Ethiopia. The company presented the idea of building a commercial cableway to the Ethiopian Minister of Transport and her staff. This new technology aims to save more space in urban areas.

Cable car construction has competitive advantages over the traditional railway construction method, according to SWIG, as it significantly reduces the land use for roads and infrastructure. Moreover, it eliminates embankments and transport tunnels and reduces the use of financial and human resources on a larger scale.

Cable cars will be used to connect airports to downtowns, city centers to suburbs and neighboring cities, once the construction comes to completion. It is specifically suited for mountainous areas, as well as for areas difficult to access, SWIG says.

Regarding financing of the project, SWIG has proposed to the ministry public-private partnerships, a mode that will enable the public to invest in it.

“Apart from the cost of rolling stock, passenger stations, terminals and infrastructure, the value of an urban high-speed rail line is estimated at about $3 million per kilometer,” the group said.

Ethiopia’s wing of SWIG was first started as a railway construction company named Technossat, established in Ethiopia by Ethiopians and committed to develop and adapt various technologies locally. It then went on to be an official partner of SWIG for the implementation of the Ethiopian cable car.

 

Sources: https://fanabc.com/english/2019/05/construction-of-cableway-under-study-in-ethiopia/

 

Trybus Starts Exporting Suits from Ethiopia

Trybus Group, a Texas-based menswear clothing company, started exporting by dispatching 4,000 men’s suits worth $60,000 from Kombolcha, Ethiopia on May 22, 2019.

The company has created 533 jobs in the first phase of its operations and plans to export more and generate better forex, it was learned.

When fully operational, Trubus’ plant at Kombolcha will create 1000 jobs.

Source (Including Image): Ethiopian Investment Commission

http://www.investethiopia.gov.et/index.php/information-center/news-and-events/824-american-menswear-clothing-company-begins-exporting-products-from-ethiopia.html

 

 

Afdb’s Sustainable Energy Fund Approves Grant to Spur Ethiopia’s Renewable Investments

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank on 17 May 2019 approved a $995,000 grant to support the roll out of a sustainable procurement framework for Independent Power Producers (IPPs) in Ethiopia.

The SEFA grant will encourage private investments into hydropower projects through Ethiopia’s Renewable Energy Program.

It will strengthen the government’s capacity to undertake bankability and technical analysis including feasibility assessments of projects in the hydro priority pipeline. The grant also provides for environmental and social impact assessments, resettlements action plans, and preparation of bidding documents for hydro projects.

“A well-structured procurement framework is crucial in mobilizing the investments necessary to achieve universal energy access in Africa. The SEFA program will boost private IPPs participation, and spur investments into the Ethiopian hydro power sector," said Wale Shonibare, the Bank’s acting Vice President for Power, Energy, Climate Change and Green Growth.

The program also complements the assistance provided by the Bank’s Institutional IPP/PPP Support Project, as well as the Bank-financed Mekele-Dallol and Semera-Afdera Power Supply for Industrial Development and Access Scale-up Project”, Shonibare added.

Ethiopia has a vast but untapped renewable energy potential. Under a long-term development strategy, the government has outlined a National Electrification Program (NEP), targeting universal access by 2025 through a 65% on-grid, and 35% off grid combination. The goal is to transform the country into a regional energy hub by 2030.

The Ethiopia Renewable Energy Program, supported by the SEFA grant, is in line with the country’s Growth and Transformation Plan (GTP II) 2015/16 – 2019/20 and with the NEP targets. It also aligns with the Bank’s Energy Sector Policy (2012), the New Deal on Energy for Africa, especially focusing on “Renewable Energy” and “Early Stage Project Finance”.

Source: https://www.afdb.org/en/news-and-events/ethiopia-african-development-banks-sustainable-energy-fund-approves-grant-to-spur-renewable-investments-19296/

 

 

Isuzu Motors to Open Assembly Plant in Ethiopia

Isuzu Motors Ltd said it has finalized preparations to open a vehicle assembly plant in Ethiopia in August 2019.

Mr. Taro Kunifusa, General Manger of the company, announced the plan during the talk he had with Ambassador of Ethiopia to Japan, Kassa Tekleberhan.

A Japanese vehicle manufacturer, Isuzu Motors supplies a wide range of products to the Ethiopian market, trucks in particular.

“We want to engage in other investment sectors to take advantage of Ethiopia huge market potential. We have finalized preparations to open a vehicle assembly plant in August 2019” he said.

Ambassador Kassa assured the company of government’s commitment to provide the support the company needed to set up an assembly plant.

The ambassador also briefed other officials of the company about the investment opportunities in Ethiopia, according to Ethiopian Embassy in Tokyo.

Source:https://fanabc.com/english/2019/05/isuzu-motors-ltd-to-open-assembly-plant-in-ethiopia/

 

 

Ethiopian Investment Commission Launches Online Platform for Chinese Investors

The Ethiopian Investment Commission (EIC) has launched an online services platform where investors can apply for new investment permit and its renewal, it announced.

The platform also enables online administration of investment incentives, said Abebe Abebayehu, Ethiopian Investment Commissioner on twitter.

The Commission has also launched a Chinese web-portal that is intended to provide up-to-date information to Chinese investors, he added.

The web-portal can be accessed at: cn.investethiopia.gov.et, EIC further noted.

Source (Including Image): Ethiopian Investment Commission

http://www.investethiopia.gov.et/index.php/information-center/news-and-events/827-eic-launches-online-investment-service-platform.html

 

 

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