Construction of $300m Health Centre Set to Begin

Apr 10 , 2021


The construction of a multi-facility healthcare centre near the Gerji area with the capacity of admitting up to 1,100 patients at a time is underway. Senior government officials, including Prime Minister Abiy Ahmed (PhD), launched the Roha Medical Campus during a ceremony last Saturday. Promoters of the project plan to raise 300 million dollars to see through its completion when construction is completed in five years. The centre will have five separate hospitals and provide advanced medical and surgical specialties, including organ transplant procedures. Roha Group Inc is a US-based investment firm with an extensive portfolio in Ethiopia. Roha also owns Ethio Lease, an equipment-leasing company, and Raxio Data Centre, which launched construction at the Addis Abeba ICT Park earlier this year.


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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...


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Abyssinia Group Eyes Expansion with IFC Funding

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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...


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