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SOUTH SUDAN PRESIDENT SACKS FINANCE MINISTER AND REPLACES HIM.

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South Sudan’s President Salva Kiir has fired Finance Minister Stephen Dhieu Dau and named Salvatore Garang Mabiordit Wol as his replacement, a statement from Kiir’s office said.

Mabiordit Wol is a former technical advisor in the trade ministry.

The decree, read on state radio late on Monday, did not give a reason for the dismissal of Dau who was appointed minister in July 2016.

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Analysts, however, attribute the president’s unexpected decision to the rising inflation in the country, worsened by the ongoing civil war.

The president, in a separate decree, appointed Erjok Bullen Geu as the deputy commissioner general of the National Revenue Authority.

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Business

Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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