Addis Abeba Sees Largest Library Inaugurated

Jan 1 , 2022


Abrehot Library, the largest facility of its kind in the country, was inaugurated on January 1, 2022, in the presence of senior government officials including Prime Minister Abiy Ahmed (PhD) and Mayor Adanech Abiebie. Built at a cost of 1.5 billion Br on 19,000sqm of land, the Library is located in the Arat Kilo area, opposite Parliament. The four-storey building's shelves can carry 1.4 million books, and its catalogue boats over 240,000 electronic books, including 300,000 research papers. The state-of-the-art library accommodates a cafeteria, parking lot for over a hundred vehicles, meeting halls, an amphitheatre, playground, and eight shops providing services related to books.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email