World News

  • JT purchase 30/100 of total shares in Ethiopia’s National Tobacco Enterprise



    Ethiopia, Addis Ababa, Japan Tobacco Inc. (JT) announced today that the JT Group has signed a share purchase agreement of 434 million US dollars with the Ethiopian government for approximately 30% of the total shares in National Tobacco Enterprise Share Company (NTE).

    Today’s agreement brings the JT Group’s share ownership to over 70% of the total number of NTE shares, according to a press release issued by the company.

    “This significant increase in our ownership of NTE shares reaffirms our strong belief in the company and Ethiopia as an increasingly important place to do business in Africa,” said Eddy Pirard, President and CEO of JTI.

    “By combining our international and newly acquired local expertise, we are confident that we can take NTE to a new level of growth.” Since acquiring 40% of NTE’s shares last year, the JT Group, as the largest shareholder, has been contributing to NTE’s growth by leveraging its international experience in the tobacco business.

    “We would like to express our sincere gratitude towards the government for their trust and for their efficient collaboration in finalizing this transaction,” added Mr. Pirard.

    Posted by Amare Asrat


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  • Ethio-Djibouti railway obtains certificate


    Ethiopia, Addis Ababa, The Ethio-Djibouti standard gauge railway has obtained operating certificate from China Association of Railway Engineering Construction, according to the Ethiopian Railways Corporation (ERC).

    The 756 km railway, which was inaugurated in October, 2016, has been conducting a test run since then to commence full run. The certificate was issued in recognition for its successful completion of the trial run, the Corporation said in a press release it sent to FBC yesterday.

    The Assocaition handed over the certificate for the Corporation yesterday. The Ethio-Djibouti railway is the first standard gauge electrified railroad on the continent. Construction of the Ethiopian section of the route has cost around 3.4 billion US dollars.

    Translated and posted by Amare Asrat

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  • Egypt’s FM will visit Addis Ababa to discuss GERD


    Ethiopia, Addis Ababa,  Egypt’s Foreign Minister, Sameh Shoukry will visit Addis Ababa next week.

    According to Ahram Online, the objective of his visit is to discuss on the Grand Ethiopian Renaissance Dam’s (GERD) technical negotiations.

    Ahmed Abu Zeid, Egypty’s Foreign Ministry Spokesperson, announced the trip today during an interview on a morning talk show on CBC Extra channel.

    Abu Zeid also pointed out about the ongoing preparations for Ethiopian Prime Minister Hailemariam Desalegn’s visit to Egypt.

    The Spoksperson said Ethio- Egypt relations had witnessed important developments during the past two years, represented by President Abdel-Fattah El-Sisi’s visit to Addis Ababa and the establishment of a high joint committee between the two nations, in addition to the continues ongoing communication between the foreign ministers to build mutual trust.

    “We don’t want to lose [this trust] after all that we have achieved in building a unique relation between the two countries,” Abu Zeid said, describing the GERD issue as “highly significant” for both Egypt and Ethiopia. Ethiopia has been constructing the GERD since 2011.The dam is 62 percent complete now.

    Posted by Amare Asrat

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  • Ethiopia repatriates over 14, 000 migrants from Saudi Arabia - United Arabia Emirates

    The Ministry of Foreign Affairs (MoFA) said that about 14,131 undocumented Ethiopians have been repatriated from Saudi Arabia since November 15, 2017.

    In a press conference issued today, Meles Alem, Spokesperson of MoFA, also said the government has identified the areas where Ethiopian migrants are staying in Libya.

    Ethiopian Embassy in Cairo has been gathering information to protect Ethiopian migrants in Tripoli and Bengazi from being victims of slave trade, he noted.

    He said the next step will be to issue travel documents and return them back to their home. African migrants held in Libyan detention centers are estimated at close to 20,000.

    Speaking on the IGAD-led High-Level Revitalization Forum (HLRF) underway in Addis Ababa, the Spokesperson said that South Sudanese parties are expected to reach on agreements to resolve the crisis in that country.

    The international community will take the necessary measures if the meeting ends without agreement, he said.

    Translated and posted by Amare Asrat

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