2merkato

International Financiers are showing increasing levels of interest in the Ethiopian hydropower projects said Mihiret Debebe, Chief Executive of the Ethiopian Electric Power Corporation.

The projects planned to supply power regionally through the interconnection of the regional power grids have attracted attention from leading financiers on the international market he said.

The increasing need for electric power in the region has been a factor in convincing international financier of the viability of the project according to Mihiret.

The 1.5 billion US dollar telecom network installed by ZTE (Chinese telecom) is being audited by an anonymous international firm. The ground breaking network audit will determine how well the new network meets international standards claim sources.

The firm, which was contracted some months ago, will complete its test in the next two or three months say sources. The deal was not advertised for managerial reasons according to the sources.

International firms are showing interest in the possibility of a contract to take over the management of the Ethiopian Shipping and Logistics Services Enterprise according to sources.

Dubai based, DP World, is said to be one of the companies who have expressed interest in running the Ethiopian enterprise. French logistics company Bolloré Africa Logistics is also known to have held talks with Ethiopian Prime Minister Hailemariam Desalegn and Diriba Kuma, State Minister for transport this week.

Bolloré Africa is aware of the multifaceted problems that the enterprise is encountering in meeting the demands of the Ethiopian import and export sector efficiently said Jason Reynard, East African Manager for the company speaking to Diriba.

The 2019 Ethiopian International Mining Conference and Exhibition (EIMC 2019) is underway in Addis Ababa, Ethiopia. The two-day event which started yesterday (25th November), is on its second edition this year and will be concluded today.

Three international companies have expressed interest in investing in gold exploration and extraction with Ambo Nyemer in Ethiopia. Ambo Neyer is launching its first project to explore and extract gold deposits in Oromia Regional State.

The potential investment from foreign firms was confirmed by Niguse Gedeffa, Marketing Head for Ambo Nyemer. Discussions are still in early states according to Niguse who declined to identify the parties interested in investing in the project.