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The Saudi Star Agriculture Development plc, has named Fikru Desalegn, former State Minister for Capacity Building as its new Executive Director. The retired minister took over, one of the largest agro-industry projects in Ethiopia, as of November 1st said Haile Assegide outgoing executive director and current Chief Executive of Derba MIDROC and Tossa Steel Mill.

The new Executive Director will oversee the agro-industry project launched by Saudi Star in Gambella Regional State. He is expected to mange the operation of the rice farm as well as direct the construction of two mills in Gambella and Bishoftu.

Ethiopia grants license to Fortescue Future Industries (FFI) for the production of green hydrogen and ammonia. Ahmed Shide, Minister of Finance, noted that the company would increase Ethiopia’s access to green energy.

Fortescue’s CEO Julie Shuttleworth, on her part, stated that Ethiopia was suitable for green energy. FFI will export green energy after it commences production.

The Australian company is building a global portfolio of renewable green hydrogen and green ammonia projects to produce 15 million tonnes per year of green hydrogen in 2030.

Source (Including Image): Fana BC

Additional Source: Fortescue Future Industries

Chinese commercial vehicle giant Foton Motor is setting its sights on Ethiopia's growing economy. The company announced plans to introduce more commercial trucks and electric vehicles (EVs) to the country, further solidifying its presence in the African market.

A lecture organized by the Neem Foundation of Ethiopia promoted the economic possibilities of the Neem Tree. The potential to harvest and utilize the Neem tree in Ethiopia is unlimited said Dr. Taye Teferedegn, Chairman of the Neem Foundation.

The Neem tree has multifaceted use including medicine, industry, agriculture and environment according to Taye.

France Development Agency (AFD) agreed to grant Ethiopia 18 million Euros in two separate agreements. The first agreement, a 10 million Euros grant, will be used for urban institutional and infrastructure development program (UIIDP), a program which is co-financed by the World Bank and the government of Ethiopia. The UIIDP is targeted at enhancing the capacity and performance of local urban governments.