2merkato

Afar Regional State inaugurated its Mining Development Corporation on Tuesday with an initial capital of Birr 500 million.

According to the Regional State, the Corporation will mainly engage in the mineral trade with the aim of building an institution which will be able to compete both locally and globally. The Corporation is tasked with supporting the economic transformation of the Regional State and Ethiopia by identifying and utilizing Afar’s mineral resources.

Source: Fana BC

Ethiopian Roads Authority (ERA) disclosed the Hawsewa-Abeala-Arbeti asphalt road, which it is constructing at the cost of a Billion Birr, is 93 percent over. The road is expected to be fully completed by the coming November.

The Afar State Mines Resource Development and Job Creation Bureau is actively working to increase revenue from the mining sector and tap into the untapped potential of the region. Its goal for the current fiscal year is to collect Birr 50 million from mines, with a focus on enhancing the sector's revenue. In the previous year, It successfully collected Birr 35 million Birr, in line with the region's target.

In addition to being recognized as the birthplace of humanity, Ethiopia's hottest region, Afar, boasts several captivating tourist attractions such as Awash National Park, Dallol, Erta Ale, Lake Afedera, and Alalo Bad Fel. However, the region’s tourism sector experienced a slow growth over the past three years.

Africa Finance Corporation (AFC) has announced a USD 600 million financing facility to Greenview Fertiliser Corp., Dangote Group’s fertiliser holding company, to support the group’s fertiliser expansion programme in Nigeria and Ethiopia.