Foreign Investors Receive Briefing on Dine for Nation ProjectForeign investors are currently receiving a briefing on the ‘Dine for Nation’ project. ‘Dine for Nation’ is a fundraising program to finance Wonchi, Gorgora, and Koysha projects. It aims to raise 3 billion birrs.

Gorgora located in the south of Gondar on the north shore of Lake Tana, in the Amhara region; Wonchi, in the Oromia region, with a legacy of once-powerful volcanoes, hot springs, and waterfalls, where a crater lake is “a piece of paradise”; and Koysha, uniquely situated in the green hills and lush forests of the Southern region.

With the Koysha hydropower plant in progress and the Chebera Churchura National Park in proximity, the new integrated eco-project in Koysha aims to enhance existing endowments and create a service industry and jobs in the area.

On the briefing, Ethiopian officials gave details about the projects, including their importance for tourism and to create job opportunities. The officials on the occasion called on the investors to support the projects. The three projects are expected to create jobs for the local communities, drive tourism, and create service economies.

Read More at https://www.fanabc.com/english/foreign-investors-receive-briefing-on-dine-for-nation-project/

 

 

Commissioner lelise NemeThe Ethiopian government is setting focus on improving the ease of doing business in Ethiopia to make the country competitive in the international arena, Ethiopian Investment Commission (EIC) said.

Lelise Neme, Ethiopian Investment Commission Commissioner has recently said that over the years, the government has been undertaking various activities to improve the ease of doing business in Ethiopia.

This year, it is one of the top priority areas of the government to create a conducive investment environment.

One of the strategies to improve the ease of doing business is the digitalization of the Commission’s working systems which is well underway, as to her. Secondly, efforts are underway to strengthen relationships with states’ and city administrations’ investment bodies by organizing a series of forums that will help to facilitate investment and ease of doing business nationally, according to the Commissioner.

The government is currently tirelessly working with a view to improving the ease of doing business in the nation focusing mainly on 10 indicators, such as starting business, dealing with construction permit, getting credit, getting electricity, registration property, paying tax, trade across boarder and protecting minority investors, among others, it was learnt.

“As part of this, fifty percent of our work time is spent visiting investment areas and solving their problems on the spot,” she added. “Our goal is not only to attract investment but also to create a favourable investment environment for the investors to become productive and successful.”

In the meantime, she said giant companies in industrial parks have a responsibility to create market and input supply linkage for local, small and medium enterprises.

She also said the Commission is looking into solving the problems of employees working in industrial parks who among others complain about incentive packages. Efforts are underway to solve their main challenges especially shortage of housing in partnership with investors and public-private engagement.

Read More At:-https://africabusinessnetworking.com/ethiopia-sets-focus-on-improving-ease-of-doing-business/>

Private Sector telecom reformEthio Telecom held a consultative forum with IT and start-up companies to gather inputs for the implementation of the market reform of the telecommunication sector.

More than 200 IT and start-up companies took part in the discussion.

During the discussion, Ethio Telecom CEO Frehiwot Tamiru said the government will include the ideas of the private sector in the implementation of its market reform to improve the engagement of the private sector in the telecommunications sector.

The government has been undertaking various activities to reform the telecom sector during  the past two years,  she said, adding that the involvement of  the private sector essential to successfully implement the reform.

The CEO admitted that Ethio Telecom should focus on further improving infrastructure for telecommunications to attract the private companies to hugely invest in the sector.

Representatives of the companies earlier pointed out that telecommunication infrastructure  development needs to be improved and modernized especially in rural parts of the country.

The companies also said that internet qualities, modernization of technologies for the telecommunication should be other areas of the telecommunication reform.

Frehiwot promised to seriously consider the inputs from the consultative forum, according to ENA.

Source:- https://www.ena.et/en/?p=17300

GoldEthiopian gold exports surged after the central bank offered higher prices for the metal in a bid to curb smuggling and as part of wider efforts to spur investment in mining.

Ethiopia’s gold industry is currently dominated by small-scale artisanal miners, but Newmont Corp. and Australia’s Allied Gold Corp. are among the companies exploring for the precious metal in the Horn of Africa nation.

The government hopes that cleaning up informal mining by channeling gold sales through the central bank is a first step to making the country more attractive to investors.

Harry Anagnostaras, executive chairman of London-listed Kefi Gold and Copper Plc, which is developing the Tulu Kapi mine in western Ethiopia, said  “People are starting to come in and it’s because the government is starting to transform itself very deliberately and openly from a sort of reluctant bride to a welcoming host and compliance checker.”

Official gold shipments in July and August totaled 700 kilograms (24,700 ounces), a more than fourfold increase from the year-earlier period. Exports could climb further after the central bank boosted the prices it offers by more than the increase in spot gold since the beginning of June.

Ethiopia’s approach is generating interest from miners, according to Anagnostaras, who is also chairman of a 25-member industry group in the country, FBC reported quoting Bloomberg.

The government aims to more than double the contribution of mining to 10% of gross domestic product over the next decade.

Source: BNN Bloomberg

Source:- https://www.fanabc.com/english/ethiopia-gold-exports-surge-after-as-measures-tightened-to-tackle-smuggling/

Ethiopia Telecom licenseThe Ethiopian Communication Authority (ECA) has disclosed that it will award licenses for two telecom operators until March, 2021.

Speaking at a meeting held today, Engineer Balcha Reba, ECA’s director-general, said bidding documents review for the two licences are nearing completion.

The bidding process will start next month and remain open for up to 40-50 days. Special attentions were given for communication service improvement and national security, he said.

Awarding licences for new operators would have a significant benefit to provide efficient services for Ethiopians and ICT companies, it was indicated.

As part of the telecom sector reform activities, the Ethiopian government decided to sell 40% of its stake in Ethio-telecom to foreign companies.

A 5% stake will be sold to the Ethiopian citizens ABN reported quoting FBC.

Source:- https://africabusinessnetworking.com/ethiopia-to-issue-two-telecom-licenses-by-march/?preview_id=1858&preview_nonce=1e3f845a25&preview=true&_thumbnail_id=1860