A UNHCR assessment team returned yesterday from the Assosa region of
western Ethiopia, where refugees have been arriving since late last
week amid fighting across the border in Sudan’s Blue Nile State. The
refugee population has swollen to around 20,000 people, and as our
team was there more were arriving.
Ethiopia plans to sell electricity to East African states starting with Kenya and Uganda, according to Ethiopia’s Second Deputy Prime Minister.
Millions of people across Eastern Africa are looking down the barrel
of the worst famine for 60 years. Thousands of families have picked up
their possessions to walk towards what they hope is better pasture
land, towards countries that might hold the promise of food.
By Natasha L. Foreman, MBA
Afri-Agro Industrial Bank the first-ever private development bank in Ethiopia is being established through the efforts of Costantinos Berhe Tesfu, PhD, a board member of the African Union (AU) Anti-corruption Commission, who is leading a group of twenty five prominent individuals towards establishing the bank .
On Wednesday, June 15, 2011, the bank made a public offering of 100,000 shares, each valued at 10,000 Br, with the aim to raise one billion Birr. “Our vision is to revolutionise agriculture in Ethiopia by pushing for more investments in mechanised agriculture by Ethiopians. We see it as a viable model; the conditions in the country indicate that there are opportunities for the export of value-added agricultural products,” said Costantinos Berhe Tesfu as reported by Samson Haileyesus a reporter for business newspaper Addis Fortune.
Costantinos also shared that the bank is collaborating with a venture financing company to finance long-term projects that would also source financing from international institutions such as the World Bank (WB), AfDB, International Fund for Agriculture Development, and hedge funds.
To find out more about this new venture visit: http://allafrica.com/stories/201106220355.html