(The following statement was released by the rating agency) PARIS/LONDON, October 09 (Fitch) Fitch Ratings has affirmed Ethiopia's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'B'. The Outlooks are Stable.
Five Dutch companies are set to engage in horticulture development on 500 hectares of land in Ethiopia's Amhara region at an area called Kunzila. The investment and related supports that come with it, it was learned, will be of benefit for 10,000 residents of the area.
Flights between Addis Ababa, Ethiopia, and Karachi, Pakistan will start soon, Shozab Abbas, Pakistan's Ambassador-designate said. This comes following Pakistan lifting a ban on the import of beans to Ethiopia.
Flinstone Homes, Ethiopia transferred 527 homes constructed at the Twin Crossing Site in Addis Ababa.
The real estate company constructed 450 apartments, 60 town houses and 40 Villas at the site which is located in a sub urban setting with scenic views as well as access to a four lane high way and several private housing developments in the area.
The private sector housing projects complement the urban development program which is designed to alleviate the shortage of housing in the city according to Hailemeskel Tefera, State Minister for Urban Development and Construction.
Flintstone Engineering, Ethiopia is to construct light industry shops furnished with all necessary machinery and equipment for sale.The shops are to be constructed for the manufacture of accessories, printing, leather, apparel and printing.
The shops will be built on land it has leased from the Addis Ababa City Administration.
Flintstone plans to construct 300 manufacturing shops in the first phase of the project with each unit ranging from 10m2 to 40 m2 explained Tsedeke Yihune, Founder and Chief Executive of Flintstone.
