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.

Ethiopian Airlines has announced that it will now have a daily flight to and from London Heathrow, with the addition of an additional service departing from London Heathrow on Tuesday evenings. Mr. Tewolde Gebremariam, Chief Executive Officer of Ethiopian Airlines said: “We are pleased to now offer a daily service to our customers to and from London, one of our most important routes.” He added that this new flight schedule will enable leisure and business clients to enjoy greater flexibility in selecting their flights. With daily flights to and from London and daily services to 49 African destinations and very quick connections through its Addis Ababa hub, Ethiopian offers the shortest total travel time possible to its customers.

State Minister of Foreign Affairs, Ambassador Berhane Gebre-Christos held talks with a South Korean delegation lead by the Deputy Minister of Foreign Affairs, Mr. Lee Kyung-Soo on Friday (July 11). Welcoming the Deputy Minister, Ambassador Berhane noted that the two countries share a historic and strong relationship. He expressed Ethiopia’s strong desire to draw lessons from Korea’s spectacular economic development. He also stressed the need to expand areas of cooperation between Ethiopia and Korea, particularly in trade and development and said Ethiopia would like to see more investment in-flow from South Korean businesses. He asked the South Korean government to encourage this. Ambassador Berhane emphasized that the Ethiopian government highly appreciated the support provided by Korea to a number of infrastructure projects across the country. He also used the opportunity to brief the Korean Deputy Minister on several major economic projects currently in progress. Mr. Lee Kyung-Soo paid homage to the Ethiopian soldiers who fought and sacrificed their lives in Korea for “freedom and democracy”, and noted that his visit to Ethiopia was important “to reconfirm my government’s commitment to strengthen bilateral relations in exploring new areas of cooperation.” He said South Korea was committed to share its experience in nation building, industrialization and technological development, and it would extend support to the Mojo-Hawassa railway project and the installation of electric transmission lines in various parts of the country. He said it was important to maximize synergy and interaction in economic areas and added that Ethiopia’s robust growth was indication of a bright future for the country. The Deputy Minister also appreciated the contribution of Ethiopia to help create peace in East Africa, in South Sudan and Somalia in particular. He said South Korea would like to work in close cooperation with Ethiopia in international and regional issues.

 

Ethiopian Takes Delivery of Dreamliner

Addis Ababa July 03/2014 The Ethiopian Airlines announced that it took delivery of the eighth Boeing 787 Dreamliner on 26 June 2014.

A press release it sent to ENA said the aircraft maximizes passengers comfort with greatly reduced noise, higher ceilings, and biggest windows in the sky, higher humidity and unique lighting.

It will also enable the airline to fulfil its green corporate social responsibility with greatly reduced carbon footprint.

"The 787 is truly without peers in its category both in passenger comfort and operational excellence. As technology leaders in the continent, we will continue to introduce the latest technology aircraft with the aim of meeting the high expectations of our valued customers." CEO of Ethiopian Tewolde Gebremariam said.

Currently, Ethiopian is the largest operator of the Boeing 787 in Africa in serving routes to Africa, Brazil, Europe, the U.S, Canada and China, the release said.

The Ethiopian Airlines will take delivery of further two Boeing 787s in 2014.

Ethiopian was the first in the world outside Japan to receive the Boeing 787 in August 2012.

In a session held during

the 6th Northern Corridor Summit, the East African Commodity Exchange (EAX) is launched. President Uhuru Kenyatta ushered the launch of the East AfricaCommodity Exchange by ringing a bell signaling the formal launch of the Exchange. EAX is a subsidiary of Africa Exchange Holdings, Ltd. (AFEX), which is comprised of Heirs Holdings, Berggruen Holdings, and 50 Ventures, and is financially supported through private investment from AFEX and Ngali Holdings, a local investment company in Rwanda. Former US Assistant Secretary for African Affairs, Dr. Jenadayi Frazer and Board Chairperson of the EAX on her remarks noted that EAX will go a long way to address gaps in Africa’s agricultural commodity exchange. She underlined that the warehouse system will have significant impact in reducing after harvest losses. It will also contribute to Africa’s efforts of food security and to make African products globally competitive.  She also hailed the EAX as a successful venture in Public Private Partnership scheme. President Uhuru noted that the establishment of the EAX shows that we are moving in the right direction in realizing regional integration. He also noted Ethiopia’s efforts in putting in place a commodity exchange which he said will create a synergy for greater East and Horn of Africa integration. The EAX, he underlined will play a significant role in ending the exploitation of African farmers by middle men and ensure price stability. The EAX, headquartered in Rwanda offers warehouse operations, trading, warehouse receipt financing, clearing and settlement in addition to risk Management and Compliance.

Ambassador Berhane Gebre - Chirstos, State Minister for Foreign Affairs, on Thursday (July 3), held talks with US deputy Assistant Secretary of State for Democracy, Human Rights, and Labor, Mr. Steven Feldstein. Ambassador Berhane praised the long and excellent relationship between the two countries and said their continuing dialogue on bilateral, regional and global issues was a testament to their strong cooperation and good understanding. Ambassador Berhane noted that the two countries have three different fora whereby they deal with political, economic and security issues. He emphasized Ethiopian government’s commitment to the issues of transparency, accountability, Human Rights in relation with the country’s democratization process. As for the approval of Ethiopia’s candidacy to Extractive Industries Transparency Initiative (EITI), Ambassador Berhane indicated that extractive materials are currently given focus as a tool for development, but only after the government had built strong institutions which will enable the government to manage the revenues collected from these extractive industries in a transparent manner. Ambassador Berhane underlined that effective government, civil society and private sector will help to build a strong democratic system. He also expressed Ethiopia's readiness to work closely with the US in establishing strong democratic nation and learn from the latter’s experience. On his part, Mr. Feldstein commended Ethiopia’s development path as well as the progress made in building strong institutions.  He further affirmed that the US is ready to work with Ethiopia through the EITI framework, adding that it was important to work together, to dialogue and to communicate effectively within the existing Ethio-US fora

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