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Ethiopia meeting calms worries over damn project with roadmap.

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A meeting between the Ethiopian prime minister and the Egyptian foreign affairs minister has diffused the tension that had been brewing over the Grand Ethiopian Renaissance Dam (GERD).

The meeting held in Addis Ababa, was also attended by irrigation ministers and intelligence chiefs from Sudan, Egypt and Ethiopia.



Premier Abiy Ahmed reaffirmed his commitment to strengthening relations with Egypt while Egypt’s Sameh Shoukry said his country was keen to activate all mechanisms of cooperation at the tripartite level between Ethiopia, Sudan and Egypt.

After 14 hours of negotiations, the three countries agreed to establish the Tripartite Infrastructure Fund that will deal with among others, issues relating to the GERD.

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They also agreed to regularise the summit of the leaders, which will now be held every six months alternately in the capitals of the three countries.

After several meetings that failed to agree on the technical report by a French firm commissioned to assess the dam’s environmental and economic impact, the three countries agreed to set up an independent scientific research study group on the filling and operation of the GERD.

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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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