Second EthiopianThe second edition of the Ethiopian International Mining Conference and Exhibition (EIMC 2019) opened in Addis Ababa. The two-day event is being held under the theme “transforming potential into production by creating an attractive mining investment framework.” It brought together policy makers, investors, industry experts, development partners and other key stakeholders in the Ethiopia’s mining sector. EIMC 2019 was organized by the Ministry of Mines and Petroleum of Ethiopia, in association with the UK based AME Trade Ltd.

Source:- https://fanabc.com/english/2019/11/second-ethiopian-intl-mining-conference-opens-in-addis-ababa/

Ethiopia Attracts 700 Mln FDI in First QuarterNation attracted 700 Million Foreign Direct Investments (FDI) during the first quarter of the on-going fiscal year, according Ethiopian Investment Commission report.

In its report to the House of Peoples’ Representatives Trade and Industry Standing Committee, the Commission said the country has achieved 70 percent of the plan which was projected to bring over a billion U.S. dollar investments during the stated period.

The country attracted the investments from close to 100 new foreign companies being operational in various sectors, the report showed.

Ethiopian Investment Commissioner, Abebe Abebayehu, stated that the achievement has shown a 13 percent progress compared to in the same period of the last budget year.

Acknowledging that Ethiopia has still not been earning the expected foreign currency from its manufacturing products,  lack of peace and stability, repeated power break, inadequate infrastructure around the industrial parks are among the major challenges for the sector, the commissioner  revealed.

He particularly noted that the recent instability of the country is affecting the investment flow saying “Ethiopia has lost 300 million USD due to the disruption in different part of the country.”

Noting that attracting the highly qualified investors has been a top priority of the nation, the commission has licensed the best global firms during the last three months unlike the past experience in this regard, he underscored.

 After hearing the report, the standing committee urged the commission to focus on export oriented products, job creation and technology transfer.

The country has secured some 47 million USD from the manufactured products, which is the least achievement of the targeted plan in first three months, according to the report.

Source:- https://www.ena.et/en/?p=10849

Farm Africa launches project targeting 130000 forest coffee producers in Ethiopia

Farm Africa has launched a new project to help more than 130,000 forest coffee producers in Ethiopia’s Oromia regional state improve their livelihoods by increasing the sustainable production of high-quality coffee.

Funded by High Water Global, the Sustainable Forest Coffee Value Chain Development project will use the participatory forest management (PFM) approach, which Farm Africa has been developing for more than 20 years.

PFM brings together local communities and local government to share responsibility for developing sustainable plans for the forests. In return for protecting precious biodiversity, communities are allowed to harvest wild coffee from the forest in a sustainable way.

Project staff will work with seven existing participatory forest management cooperatives in the Chora woreda in Buno-Bedele zone, offering training in the production and handling of quality coffee and support to build links to national and international markets and increase their bargaining ability.

Read More at:-https://africabusinessnetworking.com/farm-africa-launches-project-targeting-130000-forest-coffee-producers-in-ethiopia/

World Export Development Forum Opens in EthiopiaThe World Export Development Forum (WEDF) was opened in Addis Ababa today under the theme “Trade and Invest in One Africa.”

Co-hosted by the International Trade Centre (ITC) and the Ethiopian Ministry of Trade and Industry, the forum was officially opened in the presence of high ranking government officials including President Sahle-Work Zewde.

The event attracted business leaders, policymakers, entrepreneurs, trade development officials, representatives of international organizations, trade and investment promotion agencies and business associations across the world.

The Forum is timed to contribute to Africa Industrialization Week, intended to help business make the most of the newly ratified African Continental Free Trade Area (AfCFTA) agreement with a special focus on the role of women and youth and to address international business competitiveness issues and profile international investment in Ethiopia and beyond.

During the event, a business-to-business matchmaking platform that aims to create new business deals in agribusiness was also organized in partnership with the Ethiopian Chamber of Commerce and Sectoral Associations, according to African Business Networking. 

Source:- https://africabusinessnetworking.com/world-export-development-forum-opens-in-ethiopia/

China Telecom deploys PoP at Africa Data Centres South Africa facilityAfrica Data Centres has announced it has extended its partnership with China Telecom Global through the deployment of a China Telecom POP at Africa Data Centres’ data centre in South Africa. 

The company says that China Telecom will offer Africa Data Centres’ customers extended global connectivity and internet services through the PoP.

The data centre facility is located near the centre of South Africa’s business district, and has a design capacity of 14 MW, according to the company.

This is not a first for China Telecom as last year saw the company deploy its network nodes in Teraco’s data centres in Cape Town.

“Africa Data Centres has facilities located at Africa’s major regional business and trade hubs, including Johannesburg, Cape Town, and Kenya, and will be expanding its footprint to West Africa and North Africa, as well as other areas we believe, are emerging as the epicentre for Africa’s digital economy,” said Stephane Duproz, CEO of Africa Data Centres.

“China Telecom’s investment in Africa Data Centres’ points of presence means our customers can look forward to reliable, low-latency, worldwide connectivity, which will enable them to deploy their applications and workloads quickly and efficiently.

See More at: https://africabusinessnetworking.com/china-telecom-deploys-pop-at-africa-data-centres-south-africa-facility/