Ethiopia’s PM Hints of Potential Oil Discovery

Meles Zenawi, Prime Minister of Ethiopia hinted of a potential oil discovery in the next year. The Prime Minster made the claim while addressing participants of the Ethiopia Investment Forum which was a side event to the 22nd World Economic Forum on Africa.

There are investment opportunities in the extractive industry including oil exploration told Meles to more than 200 domestic business leaders and as many international corporate CEO’s.

The Prime Minister claimed that Tewodros Ashenafi, Founder, Chairman and Chief Executive Officer of South West Energy will be the bearer of good news.

There are various opportunities for international investors in the mining sector including oil exploration which is supplemented by a large and easily trainable work force and encouraging tax and similar incentives provided by the government said Meles.  

It is to be remembered that Tewdros claimed Ethiopia will be an oil producing country in a recent interview with the press.

Tewdros, who has been a member of the World Economic Forum on Africa for years was successful in lobbying pertinent officials into bringing the World Economic Forum to Ethiopia.

The World Economic Forum brought 700 participants from 70 countries with 500 CEO of significant multinational corporations including Doug Mc Millon, President and Chief Executive Officer of Walmart and Nigerian billionaire Dangote, to Ethiopia.

Source: The Reporter