Ethiopia Inaugurates Second Toll Road

The newly upgraded Dire Dawa – Dewale, the 220 kilometers road network linking Ethiopia with Djibouti, has gone operational. The toll road is the second to Ethiopia next to the one linking Addis Ababa with Adama.


The upgrading of the previously gravel road into asphalt toll road has cost Ethiopia 5.2 billion birr, according to Samson Wondimu, Communications head of Ethiopian Roads Authority.

The road is part of the planed highway extending up to Addis Ababa from Djibouti’s Dewale. When the Adama – Awash – Mieso toll roads will be constructed, Addis Ababa will be directly connected with Djibouti by toll road.

The new road is expected to shorten the time trucks used to transport goods between the two countries. “The old gravel road used to take one day or more previously. But now we can reach Djibouti in three hours from Dire Dawa, “said one truck driver.

Currently 90% Ethiopia’s import export goods are being handled by Djibouti Port. Currently over 700 trucks are transporting goods between the two courtiers daily. The new road is expected to facilitate the logistics.

Source: https://newbusinessethiopia.com/ethiopia-inaugurates-second-toll-road/

 

Ethiopia To Use Drones For Mineral Exploration, Oil Pipeline Safety

The Ministry of Mines and Energy of Ethiopia is set to use drones equipped with cameras for exploration and monitor the safety of oil pipelines.


The technology, which allows identifying the minerals found in the ground at centimeters level, is said will enable Ethiopia to properly develop its mineral resources. The drones will be provided by Ministry of Innovation and Technology of Ethiopia.

In order to utilize the technology, the recently established the Ministry of Innovation and Technology of Ethiopia and the Mines of Mines and Energy have signed an agreement.

The agreement aims to support the safety of Ethiopia’s mineral exploration and oil pipeline with technology. The agreement is signed on Tuesday by Minister of Innovation and Technology, Getahun Mekuria (Dr/Eng), and Minister of Mines and Energy, Samuel Yurkato (PhD).

The technology will also be used to ensure the safety of the 800 kilometers oil pipeline, which will be constructed between Ethiopia and Djibouti. The technology also allows detecting defects and damages that may occur on the pipeline.

In the agreement the two sides have signed it is also indicated that the technology will alert any threat on the oil pipeline. It is also indicated that the drones will gather information and do the monitoring on every 150 kilometers along the pipeline and provide information to the control center.

According to the agreement signed between Ethiopia, Djibouti and POLY-GCL last September, the gas pipeline will transport 12 billion cubic metres of natural gas a year from Ethiopia to Djibouti every year.

This translates into export 10 million cubic metres of liquefied natural gas to China annually, earning the country about $1.5 billion every year.

Source: https://newbusinessethiopia.com/ethiopia-to-use-drones-for-mineral-exploration-oil-pipeline-safety/

 

Ethiopia Eyes $100m to Develop Off-Grid Electricity Provision

Ethiopia will receive 100 million dollars through a financing facility from the African Development Bank to develop off-grid electricity, a plan designed to reach over five million households by 2025.

This is a fraction of the 35 million Ethiopians believed to be unserved by the current national electricity grid.

A letter of intent was signed with the Bank today on the side of the first African Investment Forum ongoing in Johannesburg, South Africa today.

President Sahle-worq Zewdie witnessed the signing between Bekele Seleshi, minister of Water, Irrigation and Electricity, and the AfDB’s Vice President Amadou Hott inside Sandton Convention Centre.

Source: https://addisfortune.net/breaking-news/ethiopia-eyes-100m-to-develop-off-grid-electricity-provision/

 

RENEW’s Impact Angel Network Closes Eleventh Investment in East Africa

RENEW and members of the Impact Angel Network (IAN) have closed an investment in ET Fresh, LLC. ET Fresh will specialize in increasing the branding, value and market reach of Ethiopian products into the Middle East and other markets.

The company is a partnership between the IAN and Tesfalidet Hagos, the General Manager of Luna Export Slaughterhouse PLC, a family owned Ethiopian agriculture conglomerate.

Initially, ET Fresh will focus on increasing the export of high-quality, processed and branded meat products from Ethiopia. ET Fresh intends to expand from this initial focus to become an umbrella brand that will launch a series of fresh product lines that are all-natural, premium quality and sustainable.

In pursuing this strategy, the company will leverage the cattle ranching expertise which members of RENEW’s Impact Angel Network bring to the venture, as well as Mr. Hagos’ strong track record as a manager of industry-leading companies involved in processing fresh food in Ethiopia.

RENEW will provide ET Fresh with branding and marketing support to position the company’s products for new markets, as well as supporting management in the areas of governance, financial management and recruiting.

RENEW expects that this investment will contribute to the creation of hundreds of new jobs in Ethiopia, as well as greater income for pastoralists and increased foreign currency and tax revenue for Ethiopia.

“I have great enthusiasm to work with [the] RENEW team and [they] will definitely make a difference in our marketing operation. It will give us a great opportunity to promote our country’s products internationally with a much better image and branding,” commented Mr. Tesfalidet Hagos.

“We are excited to partner with Mr. Hagos and Luna,” said Matthew Davis, CEO of RENEW. He added, “Ethiopia has one of the largest livestock populations in Africa. It is a huge asset for the country and we are excited to help Luna and the citizens of Ethiopia realize greater economic and social value from this resource.”

RENEW and the Impact Angel Network are one of the most active private equity investors in Ethiopia and recently expanded to Uganda. RENEW and the IAN seek to become the most successful SME investment firm in Sub-Saharan Africa, investing in hundreds of companies across twenty countries.

Their mission is to find, invest and help grow great companies led by visionary leaders. The IAN and RENEW believe the greatest impact they can have in a country is realized through investing in strong companies and creating good jobs .

They are able to accomplish this objective in Ethiopia and this investment in ET Fresh with support from Global Affairs Canada through a blended finance model. The investment in ET Fresh, LLC is the Impact Angel Network’s eleventh investment in a portfolio of ten companies in East Africa.

Source: https://africabusinesscommunities.com/news/renews-impact-angel-network-closes-eleventh-investment-in-east-africa/

 

 

Ethiopian Cargo and Logistics Increases Fleet to Eight with New Delivery

Ethiopian Cargo & Logistics Services has taken delivery of its 8th B777 freighter aircraft in its cargo fleet family at its home base at Bole International Airport.

Maintaining its trajectory of rapid growth and expansion in the global cargo industry, the Africa’s largest cargo service provider play a critical role in providing global standard supply chain management in facilitating import and export economies of African countries.

Regarding the delivery of the new freighter, Ethiopian Group CEO Tewolde GebreMariam said, “The new aircraft will help us bolster our leading role in cargo operation in Africa and beyond, further expanding our commendable contribution in boosting the continent’s airfreight export/import traffic as laid out in our Vision 2025. As the largest cargo operator in Africa, we are currently serving over 44 international dedicated Freighter destinations in the Africa, the Gulf, the Middle East, Asia, the Americas and Europe, augmenting the export of perishable farm products from the continent of Africa and the import of high value industrial goods. With more freighters on order, we are set to consolidate our role in availing much needed airfreight service within Africa and beyond, further catalyzing the continent’s economic growth.”

As per its 15-year growth road map, Vision 2025, Ethiopian Cargo and Logistics Services envisions to generate $2 billion revenue with 19 dedicated freighter aircraft and transporting 820,000 tons of cargo to 57 destinations.

Source: https://africabusinesscommunities.com/news/ethiopian-cargo-and-logistics-increases-fleet-to-eight-with-new-delivery/

 

Ethiopian Mobile and Computer Conglomerate has Launched 50 million Birr Investment

The pro-facture manufacturing company, Pro.proEthiopia, has invested 50 million Birr with a foreign investor. In this same manner, the factory was officially opened in Dessie town, South Wollo Zone, Amhara State.

The owner and manager of the company, Mohammed Mekonnen, is the owner of the factory, October 25, 2011. At the time of the commencement of the graduation, Dessie Ayala University was selected by the Dessie City Trade and Investment Promotion Team Leader.

The investor coming to the city in their native country, the country house << >> something magnanimous farmers portrayed as motivated now to defer expressed mebik’etechewini open Redirect computer assembling factory. Although only a mobile base functionality required when work is started, the computer will soon start work largely addressed to Mr. Mohammed, Ethiopia āyipiro mobe Yi Li factory is now level << MN >> and << A9 >> developments underway are two types of models. The factory has started production of more than 600 mobile phones per day. The teams basing his skill increased, fully learns from those who have graduated from vocational education institutions are adjusting their work as they went on cell phones sewing production capacity of more than 3,500 per day up to 4000 appears grim. It has been discovered that the company is a manufacturer of chromium in China, which has been in China for more than 10 years. Currently, this mobile phone has more marketing access to more than 100 countries, an IRE sales executive manager.

According to Mr. Eckhart, the company has sold 25 million phones every year, and the first Ethiopian factory in Ethiopia has started producing 800 phones per day starting with the pilot project. It also said that in the near future, it would move up to 2,000 phones per day. He said that a reliable production factory in East Africa, including Ethiopia, has a strong market already built in Africa, particularly in Algeria, Morocco and Egypt.

In addition, the factory will create job opportunity for 70 employees and it will create temporary and permanent job opportunities for 400 employees when the factory is fully operational. Mohammed also said that the mobile phones were made up of graduates from TVET schools and job opportunities in the fields they learned. To get more technical training from Chinese professionals for more than a month, they are also mentioned to help them gain more knowledge.

It is a company that specializes in mobile phones and smartphones and tablets, from Asia to Europe, Middle East and Africa.

In addition to the merger of mobile and computer accessories, the investors are also known to be involved in activities that could contribute to the development of a paper product. The city administration has expressed its desire to provide the place where the paperwork is to be constructed, he added.

Source: www.ethiopianreporter.com

 

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