Ethiopia Devalued Birr
National Bank of Ethiopia (NBE) announced Birr is devalued by 15 percent starting from October 11, 2017.
Ethiopia Developed 2.7 Million Hectares of Land by Irrigation
Ethiopia developed around 2.7 million hectares of land by irrigation in the just concluded fiscal year. This was disclosed by the Ministry of Farming and Natural Resources (FNR).
Ethiopia Developing Umbrella National Coffee Brand
The Ethiopian Coffee and Tea Authority said it is developing a national umbrella coffee brand to the international coffee market.
Ethiopia Devises New Strategy to Increase Number of Tourists
Tourism Ethiopia announced a new strategy intending to greatly increase the number of tourists visiting Ethiopia. The new strategy has been developed hand in hand with the World Bank.
Ethiopia Discovers 7 Trillion Cubic Feet of Natural Gas in Ogaden
An American based petroleum property analysis and consulting firm, Netherland, Swell & Associates, verified the existence of 7 trillion cubic feet of natural gas in the Ogaden area of Ethiopia. The firm conducted a four-month study to issue the finding and handover the first gas reserves certificate to the Ministry of Mines and Petroleum.
According to Takele Uma, the Minister of Mines and Petroleum, efforts are underway to implement the finding. He stated that the study was an assurance of the availability and commerciality of natural gas and crude oil in Ethiopia.
Exploration in the Ogaden Basin which covers an area of 350 thousand square kilometers began in the 1920s. The Calub gas field in the Ogaden region was discovered in 1973 which made it one of the earliest finds in the area.
