FADING CURATIONS


FADING CURATIONS

Paintings of Mulatu Astatke by local artists decorate the gallery at soon to be demolished Fendika Cultural Centre around the Casanchis area. The cultural centre is being demolished as part of land allotments by the city administration last year to 59 prospective investors with the 400sqm on which Fendika rests being a small part. With land being the property of the state in Ethiopia, only two mechanisms are afforded for its transfer to private citizens; allotments and lease auctions. The return of land lease auctions this year after four years has set records with losing bids of 695,000 Br for a single square meter. Over 20,000 bidders participated in the auctions with the biggest winning bid being a 495,000 Br by local entrepreneur Ibrahim Busser.

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Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

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Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...