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Ethiopian prime minister Desalegn resigns amidst anti-government protests

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Ethiopian Prime Minister Hailemariam Desalegn, who has been in power since 2012 has reportedly submitted a letter of resignation  amid protracted anti-government protests.



Hailmariam’s resignation which came as a surprise follows a nationwide state of emergency last year – a stepping down that is unprecedented in the east African country.

According to state-backed media, the letter was accepted by the executive committee of Hailemariam’s party, the Southern Ethiopian People’s Democratic Movement, as well as the wider ruling coalition, the Ethiopian People’s Revolutionary Democratic Front (EPRDF).

The Ethiopian embassy in London issued a statement saying The Prime Minister’s resignation had been accepted, but he would “continue to serve in his current capacity” until a replacement is appointed at the next EPRDF congress.

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In a statement, Hailemariam said he was not quitting politics, but would continue to  contribute to reforming Ethiopia. “My decision is to be part of the ongoing reform programmes” adding that he tried his utmost effort to solve the crisis in his country and “he is resigning now to be part of a solution to it.”

On record, hundreds of people have died in violence sparked initially by an urban development plan for the capital, Addis Ababa. The unrest spread in 2015 and 2016 as demonstrations against political restrictions and human rights abuses broke out.

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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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