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Ethiopia devalues Birr to cope with foreign currency crunch

The National Bank of Ethiopia (NBE) on Tuesday announced a devaluation of the country’s currency, the birr by 15% in a bid to cope with the serious foreign currency crunch it has faced. According to the reserve bank, along with the devaluation, interest rates on deposits have been increased by 2% to stand at 7%. […]

Ethiopia: two jailed-Eritrean journalists freed after 11 years

Two Eritrean journalists jailed for over a decade in Ethiopia have been released, according to family members. Tesfaldet Kidane and Saleh Gama, who were arrested in 2006 at the Kenya-Somalia border during Ethiopian invasion of Somalia, were released last weekend. Family members of Kidane speaking to the Washington-based Voice of America radio, said Saleh – […]

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Senegal: National revenue records a surplus of 560 billion CFA

Senegal’s economy has recorded a revenue surplus of over 560 billion CFA, data from the West African nation’s office of economic planning, policies and finance revealed. The economy may grow 6.8 percent this year, the most in sub-Saharan Africa after Ethiopia and Ivory Coast, according to the International Monetary Fund. Senegal is one of the […]

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Ethiopia: parliament lifts state of emergency

Ethiopia’s parliament on Friday voted to lift the state of emergency imposed last October to help check anti-government protests, BBC reports. Ethiopia declared a state of emergency on October 9 last year to curb violent unrest leading to damage of properties including those of local and international businesses. Members of parliament in the Horn of […]

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Ethiopia eyes $30 billion dollars from textile by 2030

The Ethiopian government plans to use 80% of the total area of land suitable for cotton growing as the country projects to generate $30 billion in foreign exchange earnings from the textile and garment sector by 2030, Bogale Feleke, Ethiopian Deputy Minister of Industry said. “We intend to increase our area of cotton production. At […]

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The Ethiopia-Djibouti railway line to start commercial operations in October

Chinese-built electric rail line built in Ethiopia will start commercial operations in October this year, it was officially announced. The 756-km stretch linking Addis Ababa and the Red Sea state of Djibouti aims at creating new manufacturing industries, improving transport and opening up landlocked Ethiopia further. “We hope the rail project will facilitate expansion of […]

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Fertilizer industry: Zambia seeks to attract Moroccan investors

Zambia, which remains a net importer of fertilizers, has called on Moroccan operators to invest in the fertilizer industry, to help curb the high cost of crop production. The call was launched by Minister of Agriculture Dora Siliya at a meeting in Lusaka Monday with a Moroccan delegation, led by Secretary of State for Foreign […]

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South Sudan: UN concerned about civilians fleeing clashes in Upper Nile

The UN has expressed concern about what is already the world’s fastest growing refugee crisis, as thousands of South Sudanese civilians are fleeing to neighboring Ethiopia. The mass exodus is taking place as Government troops advance on a rebel stronghold in the Upper Nile region. Reports from the UN International Organization on Migration (IOM) “suggest […]

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Ethiopia: Call for probe on protests crackdown

Thirty-eight Members of the European Parliament (MEPs) on Monday, called on the European Union to take action on the protest crackdown reported in three states of Ethiopia in 2016. The MEPs of the continental bloc have also asked for action on ‘‘the continuing systematic sexual violence against ethnic minority women across the country, as well […]

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AU secures $150 mln to boost Africa’s geothermal energy

The African Union has mobilized about $150 million in geothermal energy development in East Africa, Chinese News Agency Xinhua reported. According to Rashid Ali Abdallah, Principal Energy officer at the Department of Infrastructure and Energy of the AU, Djibouti, Ethiopia, Burundi, Rwanda and Kenya are the countries initially targeted by the funds. “East Africa alone […]

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