Addis Fortune Home
News From Other Sources
Agenda
Editor's Note
Opinion
Commentary
View Point
My Perspective
Life Matters
View From Arada
Restaurant Review
Business Opportunities
Cartoons and Comic Stripes
Gossip..
Archive..
 
 
             
 
 
 
 
 
 
 

City Adm’n to Sweep “Illegal” Holdings  

The massive campaign to cleanse Addis Abeba from what the Administration calls an unprecedented lawlessness will be headed by Mayor Brehane Deresse himself, disclosed reliable sources. However, the coordinating committee is comprised of 10 agencies under the Administration and members of the federal police.
 

The committee sees its role in ensuring that those who have possessed plots illegally, built houses without permits and broke into houses owned by the City Administration will be evicted by force. Not only will this committee provide leadership, budget and logistics to accomplish its target, but is also determined to punish its own staff “who may have acted unethically” in the course of the campaign. Read More

     
 
 

Roads Budget Request Doubles to 8.8b Br

The amount of money the federal government is spending on the road construction sector is growing considerably, with the Ethiopian Roads Authority (ERA) projecting an expenditure of 8.8 billion Br during the 2007/2008 fiscal year. The Authority hopes that the federal government would cover close to 73pc of the total spending. This is almost twice the amount of the budget ERA has during the current fiscal year.
 

ERA is planning to finance the construction of 172 roads to be undertaken during the next budget year close to 83 of them require the repairing and upgrading of existing roads, building 26 new roads, as well as construction of two major bridges on the rivers of Omo and Gibe. Paying for new designs of 30 existing and 17 new roads is incorporated in the budget. Read More

     
 

Al-Amoudi Grants $20m to Clinton Found’n

 

Sheikh Mohammed Ali Al-Amoudi has given a grant of 20 million dollars to the Clinton Foundation on Friday, May 11, 2007, in order to support the latter’s effort in fighting HIV/Aids in Ethiopia.
 

The Foundation, established by former US President Bill Clinton in 2002, is known for its knack in dealing with multinational drug companies producing expensive medications, and makes these drugs available at cheaper prices in developing countries. It had received 100 million dollars from UNITAID, which raises its money from airlines levies in participating countries, including France and England.

Sheikh Mohammed handed over the cheque to Mr Clinton in London, with the commitment to finish the disbursement of the total amount in 10 years. He has agreed to give two million dollars every year, while the cheque in the photo here is worth the first instalment for this year, according to an aide of the Sheikh. Read More

 
 
   
 

Africans Suffer Stalemate over EU Aviation Offer

Africa's transport authorities failed to reach a common position on an offer from the European Union (EU), when they closed their two-day ministerial on air transport. Opened on Thursday, May 10, 2007, the ministerial was the third conference since African countries passed what is known as the "Yamoussoukro Declaration" in 1999, which opens their skies to each other. The agreement was endorsed by heads of state the following year. Read More

 
 
 
 
 
 
 
 
 
 

Letters to the Editor

 

Destroying to Build

Dear Editor,

 

You do not have to be a civil engineer to figure out why the Addis Abeba road projects are delayed so far. Fortune has published several articles in the past couple of months trying to figure out the problem by interviewing the head of Addis Abeba Roads Authority, Fekade Haile, and a representative of Berta Construction PLC who is involved on two of the projects in the Old Airport area.Read More

More Letters to the Editorr

 

HIV/AIDS........


About 40 people, all carriers of the HIV/AIDS virus, squatted on the Ring Road, on the route running from Ayer Tena to Akaki, in the area commonly known as China camp. Living in makeshift homes with their spouses and children for about 10 days, the squatters are determined to get what they want. Arguing that they have been unable to rent or purchase properties after they told landlords and sellers that they had tested positive for the virus, they decided to protest publicly about their plight in finding decent housing by squatting in demand for plots that they feel the government should award them because of the hardships that they have been facing. The group had yet to receive a response by the time Fortune went to press on Saturday.

 

 
 

Ring Road for Trash Can?


The Addis Abeba landfill located in the Kolfe Keranio District on the route going from Kaliti to Ayer Tena has gone past being an area where the trash of the city can be tucked safely away. The landfill has been used as the central area to dump the trash of the city since the capital became the centre of the country. But now, it has started its own ‘expansion’ project and has reached the point where the trash is coming back to haunt the very same residents that threw it out. The trash heaps that are being found on the sides of the Ring Road in this area are washed there from the landfill as a result of the recent unexpectedly heavy rains. Seeing stacks and piles of dirt has become common place, with residents and businesses resigning themselves to the proximity of the landfill and the simple fact that they are downstream and smack dab in the middle of the landfill ‘expansion’.

 

 
 
 
 
 
 
 
 
 
 
     
NEWS  
     
 

Playing Poker with Big Boys

     
 

The WTO accession process allows Ethiopia and its member countries to negotiate the entry conditions for the first. As part of the entry conditions, it is expected that a number of WTO member countries will insist that Ethiopia open its telecommunications sector to competition. The final agreement with Ethiopia will be a binding one but has to first be approved by all (not a majority) of its members.

 
    More  
 

Petroleum Reserve Depot Construction Halted

     
 

Oil reserve depot construction near Addis Abeba was halted due to complaints from Country Club Developers, a real estate company controlling neighbouring plots that the depots are dangerous.

The Oromia Regional State reclaimed the 23ht plot that it originally granted the National Petroleum Reservoir Depot Administration (NPRDA), promising the Administration another plot elsewhere two years ago. The promise has yet to be realised.

 
    More  
 

DBE Approves 151m Br Loan for Awasa Textile

     
 

The Development Bank of Ethiopia (DBE) approved a 151.2 million Br loan on May 1, 2007, for the expansion of Awassa Textile Factory SC. The Bank has communicated its decision to the Factory informing the Management to sign the loan agreement.

 

“We have waited for more than a year to get this loan,” Awassa Textile Factory CEO, Habib Narin, told Fortune.

 
    More  
 

Default Forces ACSI to Extend Repayment Period

     
  The Addis Credit and Saving Institute (ACSI) managed to collect only nine million Br of the 19 million Birr it was to be repaid by micro and small scale enterprises in the 2006/07 budget year. With only 100 million Br of the planned 564.8 million Br in loans distributed, the Institute’s loan disbursement performance for the budget year is also lagging far behind schedule.  
    More  
 

Buyer Refuses to Take Ownership of Yerer Flour Factory

     
 

The Privatisation and Public Enterprises Supervisor Agency (PPESA) will re-tender Yerer Flour Factory SC as Anwar Abdulkadir, who won the tender to buy the Factory for five million Birr in January this year, failed to take ownership.
 

In March, PPESA informed Anwar, the only bidder who showed interest in the Factory, of its decision to award him the plant, but he refused to take over.

 
    More  
 
Sugar Gets First Private Investment
     
 

The first private investment in the sugar sector is being made by Abdul Majeed Pardesi, a Pakistani planning to invest 7.5 billion Br to develop a 70,000ht sugar plantation with its own factory.
 

The investor received his license from the Ethiopian Investment Agency (EIA) in November 2007. The Agency directed Mr Pardesi to the Oromia Regional Investment Commission to acquire a plot for his project.

 
    More  

Condos to Be Distributed Only in Raffles

     
 

The Cabinet of the Addis Abeba City Caretaker Administration (AACCA) has decided to forgo its discretionary role in the distribution of condominiums, and instead use raffles to distribute them to buyers.
 

A Proclamation issued in 2005, during the time of former Mayor Arkebe Oqubay, gave the City Cabinet power to decide on allocations of condo houses the city is financing to build.

 
    More  

Newest Employers Federation Requests Legal Standing

     
 

The recently formed Addis Abeba Employers Federation (AAEF) is comprised of representatives from many of the leading businesses in the city and seeks to address issues common to its members. Now requesting legal status, the relationship between the capital's representative and the national body, the Ethiopian Employers Federation (EEF), is questioned by many national members.

 
    More  

American Company Enters Local Cement Sector

     
 

North Holding Investment Inc (Ethiopia Branch), an American investment firm, is planning to construct a close to five billion Birr cement factory in the Dejen Zone of the Amhara Regional State.

 

The company received its license from the Amhara Regional Investment Commission almost nine months ago and will construct a factory with an annual production capacity of 7.8 million tonnes of cement.

 
    More  
 

Funding Shortage Leads to Revision of Gondar Hospital Design

     
 

The Gondar Municipality will alter the design of the Gondar Referral Hospital due to funding constraints. The design revision aims to bring down the cost of the project to 70 million Birr, more than 100 million Birr lower than the original projected cost. 

 
    More  
 

Postal Service to Expand In-House Deliveries

     
 

The Ethiopian Postal Service (EPS) is preparing to take over out of town mail deliveries by assigning its own vehicles to offer the services to regional and rural branches.

 

EPS has obtained financial assistance for the purchase of four Mitsubishi Coaster buses that have a 26 passenger capacity from the Universal Postal Union (UPU), the United Nations’ (UN) postal service. EPS presented a project document to the UPU on March 22, 2007. The UPU allocated three million Birr for the purchase of the buses and is facilitating their delivery through the United Nations Development Program (UNDP) office in Addis Abeba because it does not have an office in the country.

 
    More  
 

Student Repayment Regulation Confuses Employers, Graduates

     
 

Tesema Mengeste, graduate from the Department of Economics at Addis Abeba University (AAU) last year, receives a monthly net salary of 850 Br at one of the government revenue collecting organisations in Addis Abeba. Tesema does not, however, see this full amount as 100 Br is being sent to the Ministry of Revenue (MoR) in compliance with the student cost sharing arrangement.

 
    More  
 

Hotel Owners Assn President Opens Second Business

     
 

Tadelle Yimer, controversial secretary general of the Ethiopian Employers Federation (EEF), has opened Modern Hotel, built at a cost of 3.8 million Br, in Adama town.

 

Located 98Km east of Addis Abeba in Kebelle 11 of Adama Zone in the Oromia Regional State, the Hotel was inaugurated last Saturday, May 5, 2007. Tadelle began this venture jointly with his brother Yehualashet Asamenew, a member of the Ethiopian Diaspora in the United States (US).

 
    More  
 

Grade One Contractors Not Interested

     
 

The failure of a recent pedestrian overpass tender to receive any interested bidders has prompted the Addis Abeba City Roads Authority (AACRA) to re-tender the project. In addition, the Authority has also decreased the contractor requirements from grade one companies to grade five and above. 

 
    More  
 

Chamber Head Officially Released

     
 

By mutual agreement made between the Board of Directors of the Addis Abeba Chamber of Commerce and Sectoral Association (AACCSA) and Semunesh Dimitros, secretary general, Semunesh has been released from her office as of May 1, 2007, AACCSA disclosed.

 

Semunesh was brought before the Board, which had voted, 10-one, the sole objector being Eyesuswork Zafu, chairman of the Board, to terminate her term. The vote left her with two choices.

 
    More  
 

African Women Discriminated Against for High Level Positions

     
 

Unemployment rates for both men and women in Africa have remained largely unchanged over the past decade, with women still maintaining lower levels at 7.6pc compared to men at 9.1pc, according to a report, Equality at Work: Tackling the Challenges, by the International Labour Office (ILO) on May 10, 2007.

 
    More  
 

Bridge to Understanding

     
 

Mohammed Awol, menzuma performer, and Anthony Brown, American baritone, delivered diverse performances at the Italian Cultural Institute on Thursday, May 10, 2007. The event, sponsored by the United States (US) Embassy Public Affairs Section, featured two singers of distinct cultural traditions each possessing a faith based foundation.

 

 
    More