South African companies keen to invest in Ethiopia

South African investors and representatives of companies have expressed their readiness to invest in Ethiopia and do business with.

A South African business delegation comprising 22 investors and representatives of companies are currently in Ethiopia to explore investment potentials and opportunities in the country, particularly in manufacturing, agro-processing, energy and construction sectors.

State Minister for Foreign Affairs, Dr. Aklilu Hailemichael met with the South African Business Delegation on Monday (March 6, 2017) and briefed them on investment prospects in Ethiopia. 

Dr. Aklilu  underscored that the delegation's current move will promote Ethiopia's aspiration to boost the intra Africa trade and enhance south-south cooperation.

He said, "Ethiopia attracts investors from China and Turkey as well as the US and Europe; nevertheless we would like to also promote south-south economic cooperation between African countries."

Touching upon the huge investment potentials in Ethiopia, the State Minister said, "Ethiopia's geographic location, its active membership in regional and bilateral trade agreements, including various other platforms with the U.S, EU and COMESA region, and the favorable investment policies make it an attractive investment destination."

Ethiopia's young and productive work force which accounts for 60 percent of the population also offers significant comparative advantages to investors, he added.

Ethiopia Airlines has won the Aviation 100 “Africa Lease Deal of the Year 2018” award of Airline Economics Magazine, Ethiopian Airlines Group reported.

The Airlines received the award during the Airline Economic Growth Frontiers Dubai 2018 conference gala dinner, it was indicated.

The Aviation 100 awards recognize the aviation’s most outstanding performance, innovative and successful finance and leasing deals closed in the last 12 months.

The winners of the award are decided by an Industry-wide survey, rigorous voting process and editorial consideration.

“We are happy to receive this award from Airline Economics. It’s for the first time that the Japanese financing system, JOLCO, financed an aircraft deal with an African airline. JOLCO availed financing for our A350 aircraft,” EAL Group CEO Tewolde Gebremariam commented on the award.

He added that “the deal shows the strong confidence of reputed global financiers in Ethiopian balance sheet and business plan.”

EAL has also received Middle East and Africa Airline of the Year award in 2017 by Airline Economics, it was learned.

Ethiopian is a multi-award winning carrier crowned with Four Star certification by SKYTRAX last year, Airline of the Year awards by AFRAA as well as multiple accolades for its outstanding passenger and cargo transport services.

President Mulatu Teshome has today received four letters of credentials of newly appointed ambassadors to Ethiopia.

The ambassadors, who presented letters of credentials, represent Denmark, Vietnam, Qatar and Belgium.

The President and ambassadors deliberated on the ways to scale up the bilateral relations of the respective countries on trade and investment.

Vietnam is one of Asian countries in conducting successful agricultural transformation and attracting foreign direct investment which rapidly accelerates the industrialization process, Protocol and Communication Director at President Office, Ashebir Getnet said.

In this regard, the president told to Vietnamese ambassador that Ethiopia would get enormous experience from Vietnam especially on technical and capacity building, he added.

It is to be recalled that Belgium offered 39 million Euros for strengthening the cooperation between Ethiopian and Belgium universities, Ashebir said and adding that the president and ambassador discussed to further heighten the two countries relations.

President Mulatu called upon the ambassadors, to exert a successful effort in heightening trade and investment cooperation between the countries.

The ambassadors on their part promised to work hard to boost up the relations between Ethiopia and their respective countries.

 

Italian Prime Minister Giuseppe Conte will pay official visit to Ethiopia next Thursday, according to Ministry of Foreign Affairs.

The Prime Minister is also scheduled to visit Eritrea after holding discussion with Prime Minister Abiy Ahmed and other high level government officials.

In his second leg to Eritrea, the Prime Minister will confer with President Isaias Afewerki.

Conte’s mission is part of a concerted support for the peace deal signed between Ethiopia and Eritrea last July after nearly 20 years of stalemate.

During his visit Premier Conte expected to confer on the issue of migration apart from development cooperation with leaders of Ethiopia and Eritrea, reports indicated.

It is to be recalled that former Italy President Sergio Mattarella visited Addis Ababa in 2016.

State Minister of Foreign Affairs Hirut Zemene has briefed the diplomatic community based in Addis Ababa on the current situation of the country.

During the briefing, she said the government of Ethiopia, under the leadership of Prime Minister Abiy Ahmed, has been undertaking major reforms towards the widening of the political space, ensuring respect for human rights and the rule of law as well as media freedom.

“Despite these sweeping reforms, unrests have been witnessed in some parts of the country mainly aimed at destructing the current sweep of change,” she noted.

Furthermore, Hirut stated that the recent violence and attacks on innocent civilians outside of Addis Ababa in Burayu area and its surroundings constitute one of the attempts to disrupt the ongoing reform.

She revealed that the violence caused the loss of lives of 25 people and properties as well as displacement.

Following the violence in Burayu, demonstrations that were largely peaceful took place in the capital city. However, five lives were lost when security forces tried to defend themselves while some protesters snatched their guns.

The Federal police, along with Addis Ababa police and Oromia regional state as well as the local communities, have been working closely to restore peace in the areas, she said, adding that more than 700 suspects have been detained for alleged involvement in the turmoil.

“Currently the security situation in these areas is coming back to normal. This unfortunate incident is receiving overwhelming condemnation from all corners,” the state minister noted.

Hirut stressed that the government is committed to ensuring the prevalence of rule of law and the perpetrators will be brought to justice.

“In a large and diverse nation which is undertaking fast reform and measures, such challenges are inevitable and should not be taken as surprise,” she pointed out.

“We would like to assure the diplomatic communities and members of the international organizations that calms and normalcy will prevail as usual,” Hirut stated.

The state minister reiterated that Ethiopia will continue to play its parts in regional and global peace and security matters.

Ethiopia has been playing a leading role in United Nations Security Council (UNSC) in resolving regional conflicts, the Ministry of Foreign Affairs said.

In a press briefing he gave to the media, Meles Alem, Spokesperson of the Ministry said Ethiopia has brought achievements in resolving and preventing security challenges both at the regional and global levels.

Mentioning achievements that Ethiopia has brought since it became a non-permanent member to the UNSC, Meles said that the country went a long way to restore peace and security in South Sudan and Somalia.

“We are well aware of that unlike many regions, the East African geopolitics is the volatile region for a long time.  If we take Somalia’s case, we are extensively engage in supporting Somalia’s security structure and deployed thousands of troops in weakening Al-shabab,” he indicated.

Noting on the new peace initiative that the South Sudan warring parties signed early September, Meles said Ethiopia’s “constructive role” was vital in bringing together the factions to sign the revitalized agreement.

“As Ethiopia has a legacy for Africa’s interest, it has actively engaged in the fight against Al-Shabaab insurgents in neighboring Somalia, it is involved in peace efforts in South Sudan and is Africa’s largest contributor to peacekeeping efforts to United Nations,” he said.

Saying that Ethiopia is always working for the fulfillment of the African interest, it will continue to promote the continent’s interest at the 73rd session of the UN General Assembly that focuses on global economic, political and social issues.

Ethiopia, which a ‘non permanent’ seat on the UNSC in June 2016, has officially commenced its two year tenure in January 2017.

Ethiopia is one of the 10 non-permanent members of the UNSC and it takes its turn in a revolving presidency. The country has used its tenure to focus on resolution of conflicts in Somalia, South Sudan and in the Great Lakes region

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