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Gabon announces plans to reduce oil cost.

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Gabon’s government has announced a series of measures intended to reduce the cost of operation of the State. Gabon is amongst the top five oil producers in Sub- Saharan Africa and has been an oil producer for more than 50 years.



The oil-dependent central Africa nation was forced to turn to the IMF for a bailout after oil prices slumped from 2014 to 2016.

In return, it promised to carry out tough reforms, including deep spending cuts.

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That promise has already been put in effect, with a slash in the incomes of the civil servants, an embargo on public recruitments.

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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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