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.
The day marked Emperor Haileselassie of Ethiopia’s grand entranceinto, Addis Ababa, on May 5, 1941 ending the five years Italian occupation.
As the day was celebrated at the Arat kilo’s Victory square, Ethiopian President Dr. Mulatu Teshome said the current generation should replicate the courageous deeds of ancient Ethiopian patriots in the development realms too.
Ancient Ethiopian Patriots Association President Lij Daniel Jote on his part said that while celebrating this victory day Ethiopians should collaborate for the realization of the Grand Ethiopian Renaissance Dam (GERD).
United Nations Secretary-General Ban Ki-moon has announced the appointment of Hiroute Guebre Sellassie of Ethiopia as the new Special Envoy for the Sahel and Head Office to succeed Romano Prodi of Italy.
Ms. Guebre Sellassie has been serving as the Director of the Political Affairs Division and Head of the Goma Regional Office in the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO). Before joining the United Nations, Ms. Guebre Sellassie who has extensive experience combining strategic and managerial leadership, operational planning and policy formulation in the area of peace and security in Africa, was Oxfam Regional Peace Building and Conflict Management Advisor for Horn, East and Central Africa.
From 1998 to 2004, she was the CEO of the African Women Committee on Peace and Development, established by the Economic Commission for Africa and the African Union as an advisory organ on women’s involvement in peace and security issues.
Addis Ababa, 3 May 2014 (WIC) -The Addis Ababa-Adama expressway built with over 10.3 billion birr would be inaugurated on Monday.
The Ethiopian Roads Authority told ENA that this first highway of its kind in the country has six lanes and is 84.6 kilometers long and 31 meters wide.
The expressway would cut the travel time from the capital city to Adama from three hours to 45 minutes, the authority said.
The highway has immense use as it connects the capital with the port of Djibouti and also with the eastern and southern parts of the country.
Besides, it would ease traffic, cut transportation cost and time as well as pollution.
The expressway would be inaugurated in the presence of China’s Prime Minister and high Ethiopian government officials, it was learned.
China’s Prime Minister Li Qiyenag and Prime Minister Hailemariam witnessed a signing of sixteen agreements by respective heads of ministries of the two governments and business leaders. The agreements are Mutual Visa Exemption for Holders of Diplomatic and Service Passports, Implementation Program for the years 2014-2017 under the cultural cooperation agreement, Extradition Treaty, Treaty on Mutual Legal Assistance in Civil and Commercial Matters, Minutes of the eighth joint commission session on economic, science and technical cooperation and trade, Exchange of letters on providing security inspection equipment, Comprehensive Framework Agreement (2015-2024) between Ministry of Finance and Economic Development of the Federal Democratic Republic of Ethiopia and Ministry of Commerce of the People’s Republic of China, Agreement on China – Ethiopia Economic and Trade Cooperation Zones, Package Cooperation Framework Agreement in relation to Supporting Ethiopia in its Social and Economic Development, Preferential Buyer Credit Loan Agreement on Dire Dawa-Dewelle Road Project , Individual Facility Agreement for Welkait Sugar Factory Project, Loan Agreement on OPGW project. A 150 million Remnibi interest free loan and grant of the same amount was also signed.
The Premier announced also the release of the AddisAbaba- Djibouti railway project loan worth $1.3 billion. In relation to the industrial parks, it was announced that four Chinese companies namely GCOC, CEEC, CRC and CCC have finalized arrangement with Ministry of Industry to start industrial park in Ethiopia. In relation to Special Economic Zones, the two sides expressed satisfaction in the ongoing feasibility study of Diredewa Economic Zone. Also agreement was reached on technology transfer of all forms including high level technology and those that suit the demands of Ethiopia.
Following Prime Minister Hailemariam’s note that Ethiopia provides attractive opportunities to China’s labour intensive industries as it has a comparative advantage in cheap labor and low energy supply, Premier Li said China appreciates in the complementarity of the needs of the two countries. He said his government is committed to encourage more Chinese investment to Ethiopia. In relation to activities of Chinese companies in Ethiopia, Prime Minister Hailemariam said his government draws satisfaction in the execution of such major projects as mobile telephone expansion, Addis Ababa Light Railway, Adama Wind Farm Addis-Adama Expressway which he said their delivery is crucial to meet the GTP. The two sides also agreed to work together and share experience in trade logistics by establishing institutional support system.
Prime Minister Li Keying’s of the People’s Republic of China arrived Addis Ababa yesterday starting his tour to Africa. A warm welcome was accorded to Prime Minister Li Keqiang and his delegation by Prime Minister Hailemariam Desalegn , Ministers and other high ranking officials . Following the reception at Bole International Airport, the two leaders held a separate tete-a-tete discussion and a bilateral session attended by ministers from the two sides and business leaders representing different Chinese companies.
On the occasion Prime Minister Hailemariam noted that the relationship between Ethiopia and China has been expanding since its official start in 1970’s and more importantly in the past decade. He said the relationship is going from strength to strength at government to government, party to party, business to business and people to people levels. He thanked the government and people of China for supporting Ethiopia’s development in finance, technology transfer, and investment and capacity building.
Speaking about China –Africa relations Prime Minister Hailemariam Desalegn said China being the biggest trade partner of Africa and its support to the continental infrastructure development through concessional and preferential loans has brought significant change. He further added that China’s support to Ethiopia is critical and far reaching as the nation strives to meet goals set in the five year Growth and Transformation Plan. He expressed Ethiopia desire to see more Chinese investment in manufacturing, extractive industries and large scale agriculture.
Prime Minister Hailemariam described the China-Africa as strategic and all-rounded its mainstay being Agriculture and Agro processing, ICT, Special Economic Zones, industrial parks, manufacturing, mining, renewable energy development is including power generation, railway development. He cited the finalization of preparation of the Comprehensive Framework Agreement which maps out a ten year strategic framework of cooperation as an important leap in the cooperation of the two countries.
Prime Minister Hailemariam also stressed the need to further strengthen political consultation in regional continental and global issues between China and Africa. He appreciated China’s role in peace and security of the continent as evinced in its peace keeping missions in Drafur, DRC Liberia, Mali. Prime Minister Li for his part described the relationship of China and Ethiopia as deep, traditional and dynamic in its smooth growth as well. He said this growing relationship relation needs to be further augmented through high level visits on the two sides.
He also noted China’s desire to expand its relations with Ethiopia in various areas He in particular cited China’s interest in development of potash, oil and gas exploration and development and management of special economic zones. In human resource development he announced China’s interest to increase scholarship offers and step up academic cooperation. Prime Minister Li chimed with the view of holding consultations and coordinating position between China and Africa to promote and safeguard the interest of developing countries in a manner reflective of the multipolar world order.