2merkato

Youngone Corporation, South Korean textile and footwear manufacturer, disclosed it aims to invest in the textile industry of Ethiopia.

South Sudan is to build an oil pipeline to Port Djibouti through Ethiopia.

A memorandum of understanding for the construction of the pipeline was signed in Addis Ababa earlier this month according to Barnaba Marial Benjamin, South Sudanese Minister for Information.

Companies from Europe, China and the United States have expressed interest in carrying out feasibility studies said Benjamin.

South West Energy has finalized 1640 line kilometers of 2D seismic survey of is concession in the Ogaden basin of Ethiopia.

The first indigenous gas and oil company in Ethiopia, South West contracted the survey to GII a geophysics company completing the survey in nine months according to sources at the Ethiopian Ministry of Mines.

GII submitted the seismic data it collected from the South West concession in Degehabur zone of the Ogaden Basin to South West Energy and the MoM last week.

The South West Ethiopia Peoples’ Regional State's Mining and Energy Development Agency has revoked the licenses of 32 gold mining producers in the region during the current fiscal year. The decision follows a monitoring and inspection process that identified poor performance among several licensed operators.

The Southern Sudanese Embassy announced that it issues approximately 100 visas to Ethiopian businesspersons conducting business in Juba. The number of business travelers has increased since Southern Sudanese Independence Day said
David Dang Kong, deputy head of mission with South Sudan embassy.

Southern Sudan gives priority to Ethiopian business aiming to do business in Juba especially in view of the large Ethiopian community residing in Southern Sudan according to Kong.