Ethiopia to participate in Dubai Expo

Nov 9 , 2019


Ethiopia will be participating in EXPO 2020, which will be hosted in Dubai. The expo will take place with the theme "Connecting Minds, Creating the Future." The country's participation in the expo is expected to boost the bilateral trade relations between the two nations. Recently, Sultan bin Saeed Al Mansouri, minister of Economy of the United Arab Emirates (UAE), received Fetlework Gebre-Egziabher, minister of Trade & Industry, at his office. During her visit, Fetlework hailed the long-standing and growing relations between the two sides as she expressed her country’s determination to leverage their partnership across various domains. “Ethiopia has a large and emerging consumer market of up to 100 million people with promising economic potential and enormous, diverse resources that are still much untapped in a number of sectors,” the UAE minister said during the bilateral meeting.


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