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Ethiopia, Kenya, Somalia mediation yeilds positive results.

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A mediation led by Ethiopian Prime Minister Abiy Ahmed has yielded positive results with Kenya and Somalia agreeing on Wednesday to deescalate tense relations between them.

Abiy’s office said after the meeting between in Nairobi that: “As an outcome both agreed to work towards peace & to take measures in addressing particular issues that escalated the tensions.”

The Premier left Addis Ababa on Tuesday evening along with his Somalian counterpart Mohamed Abdullahi Farmaajo to Nairobi, at a time tensions were high over a maritime dispute.



Farmaajo was in Ethiopia on an official visit on the invitation of Abiy. The two leaders discussed bilateral issues and other matters of regional interest.

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The Somali presidency has in a subsequent official message thanked Ethiopia for mediating the impasse with local media reporting that the government stressed that it will allow the international body seized with the matter to rule.

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Last month, Kenya summoned its ambassador to Somalia, saying it was protesting a decision by the Mogadishu government to auction oil and gas exploration blocks at the centre of a maritime territorial dispute in the Indian Ocean.

The International Court of Justice (ICJ) in The Hague is considering a claim by the two neighbours over a common maritime boundary. The case was brought by Somalia in 2014 after negotiations over the 100,000 square km stretch of sea floor broke down.

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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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