Day: May 6, 2023

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IPDC Signs Agreement With Ten Local Companies With Capital of over Eight Billion Birr

Industrial Parks Development (IPDC) Corporation signed agreements with ten local companies with a capital of more than 8.2 billion Birr to allow them to operate in the industrial parks.

CEO of the IPDC Aklilu Tadese and the representatives of the ten companies signed the agreement.

During the signing ceremony, the CEO said that the Corporation is doing lots of activities to strengthen the manufacturing sector in the country.

The agreement which is aimed at increasing the engagement of the private sector in the IPDC and encouraging local companies is a priority, he elaborated.

Moreover, the CEO added that the companies that have signed the agreement to operate in IPDC will contribute greatly in creating job opportunities for many citizens.

Five of the ten companies which signed the agreement are engaged in pharmaceuticals, which will help the country to reduce its foreign currency spending for importing pharmaceuticals, it was indicated.

Source: Ethiopian News Agency

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Favorable Environment Created for Manufacturing Industry, Says PM

Prime Minister Abiy Ahmed said that Ethiopia has created an enabling environment for the manufacturing industry.

The premier opened today an expo under the theme “Let Ethiopia Produce” with the view to revitalize the country’s industry sector.

According to him, Ethiopia has got enough land, water, and adequate human resource as well as energy that supports production.

Yet the country has not fully exploited this massive potential for the manufacturing industry, he added.

The country has embarked on agricultural productivity to supply adequate inputs to the industry and the mining sector has been greatly revived and many products can be used as inputs for the industry.

Acknowledging the energy sector which has greater importance to catalyze Ethiopia’s industrialized ambition, the prime minister said that the Grand Ethiopian Renaissance Dam (GERD) is anticipated to fundamentally solve energy challenges in the country.

“One important factor for industrial development is energy. The performance of the Grand Renaissance Dam is going on in a very progressive manner and this will be a great input.”

Pointing out at the sound industrial policy Ethiopia has introduced, Abiy urged Ethiopians to unite and engage in production to permanently solve the challenges of the nation.

Industry Minister Melaku Alebel said on his part that since the launching of “Let Ethiopia Produce” movement in May 2022, some 4,000 permits have been issued to investors.

The minister added that the ‘Let Ethiopia Produce’ movement is becoming instrumental for providing continuous solutions and identifying problems that hinder the manufacturing sector in the nation’s endeavors to build a vibrant industry sector for prosperous Ethiopia.

Following the movement, encouraging results have been registered in the manufacturing sector, specially in maximizing and diversifying products, Melaku noted.

Moreover, the minister disclosed that the nation used to produce only goods. But now the machine industry sub-sector has started emerging in Ethiopia and a range of products from power tools to different types of machines are being manufactured.

He further elaborated that this is a big departure for Ethiopia and the country is going to be export today one of the tools manufactured by its evolving through machinery manufacturing. This is the first event to be recorded in our history.

Some 70 large and 54 medium industries are displaying their products and services in the five- days expo at the Millenium Hall.

Source: Ethiopian News Agency

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Investors Showing Big Interest in Investing in Ethiopia’s Industrial Parks: Industrial Parks Dev’t Corporation

There are very big demands by both local and foreign investors to operate in the industrial parks constructed across the country, according to the Industrial Parks Development Corporation (IPDC).

There are eleven industrial parks and one free trade zone the corporation manages; and some ten local companies with over 8.2 billion Birr capital have signed agreements that allow them to operate in the parks.

IPDC Marketing and Communication Head, Zemen Junedin told ENA on the sidelines of the recent investment forum held in Addis Ababa that such forums are useful in promoting investment.

According to him, the corporation has been promoting the potential of the country by taking part in international exhibitions and bazaars.

In addition, “we have done a major service delivery reform and any foreign or domestic investor can get information without conditions and also support of experts,” he added.

The head further stated that companies are given high level of support and monitoring even after they entered investment.

Zemen said that industrial parks in war-torn areas are making very promising progress and cited Kombolcha as an example. There is now high demand and investment in the pipeline to enter Kombolcha Park, he added.

Regarding Mekelle Industrial Park, a technical committee has been established to evaluate and make it operational.

In view of Ethiopia’s potential in relation to agro-processing, the marketing head pointed out that there are parks like Jimma Industrial Park which focuses on the sector.

The location of the industrial park is convenient for fruits and vegetables, especially avocado and coffee, so investors are interested to invest in the park.

Jimma Industrial Park has started producing avocado oil, he noted, adding that this has created a market linkage for more than 15,000 farmers in city and its surroundings.

He further noted that Ethiopia’s parks are very modern and competitive industrial parks of international standards that offer good opportunity to both local and foreign investors.

In Ethiopia, industrial park have been established with the vision to make the country a leading manufacturing hub, and the government places high focus on industrial parks development and expansion.

Source: Ethiopian News Agency

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Ethiopia Pledges to Strengthen Efforts in Ensuring Food Sovereignty of Africa

Ethiopia will consolidate its efforts towards ensuring food sovereignty in Africa by playing an exemplary role and through cooperation, Agriculture Minister Girma Amente said.

Even if 65 percent of the land mass of Africa is cultivable, the continent has not yet become food self-sufficient.

Under its 10-year perspective plan, Ethiopia is working to ensure food sovereignty and playing an inspirational role for the prosperity of Africa.

Agriculture Minister Girma Amente told ENA that Ethiopia is replicating its historic role of inspiring Africa in the fight against colonial masters to ensure their independence by the effort to ensuring continental economic freedom.

The successful journey in utilizing all the potentials in the agriculture sector can be taken as exemplary for other African countries, he noted.

Stressing that agriculture is one of the prioritized sectors in the 10-year perspective plan of the country, Girma said increasing production and productivity, input supply and modernizing the sector have been successful in the journey to realize food self-sufficiency.

According to the minster, Ethiopia used to spend up to 1 billion USD per year to import wheat. Today, however, the country has not only substituted the import but has also started exporting wheat.

Encouraging achievements have again been registered in transforming the rain-dependent agriculture of the nation with irrigation.

Girma pointed out that the changes that have been registered during the last four-five years in the sector have become useful experiences to be shared for other African countries.

Ethiopia will consolidate its collaboration towards ensuring food sovereignty in Africa by sharing its experiences in the agriculture sector, the minister stated.

The minister finally stressed that this is the time for Africa to develop its ample potential and natural resources to realize its prosperity.

Strengthening cooperation and partnership and growing together at continental level will be crucial to ensure food sovereignty, he underscored.

Source: Ethiopian News Agency

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Northwest: Inhabitants of Big Babanki decry unfounded extortions from alleged Separatist fighters

The population of Big Bananki a locality in the Mezam division of the North west region is complaining of the multiple extortions and fines being levied on them by alleged separatist fighters.

Reports reveal that they are obliged to pay extra fines to carry out several occasions and ceremonies.

“If you are bereaved they charge you a heavy amount before you can bury the corpse. If you have any occasions of any kind in the village they will charge you and come for you until you pay a heavy amount to them,” a source told CNA.

They also revealed that these separatist fighters demand a certain amount from parents for their children to be kept in school.

“ They said all primary school children will have to pay a sum of 500frs each and all Secondary students will pay 2000frs each,” the same source stated.

They also reprimand house owners to start paying a certain amount to them as rent including business owners before they can carry out their activities.

“They are charging FCFA 10,000 from each father and FCFA 5000 from each mother. How can they be demanding this money as rent from house owners living in their own houses? …They also said that people operating any business of any kind will from now on be charged a levy,” the Same source stated.

The population who now live in fear and uncertainty have called on the authorities concerned to come to their aid to ensure such perpetrators are called to order as the situation has left many to flee from the village for fear of the unknown.

Source: Cameroon News Agency

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Douala 5: Demolition leaves businesses in the cold

Agents of the Douala 5 Council on Friday, May 05, 2023, carried out a demolition exercise in the municipality. The areas affected were the market roundabout Makepe.

More than 20 shops and business sites were destroyed, leaving homes and businesses in shambles. The owners of these business sites say the demolition exercise is a very bitter pill for them to swallow.

” The council agents came earlier just like two days ago asking us to move out of the areas but to be honest I thought it was all a joke because usually, I know for demolition to be carried out, owners of the properties must be informed months before the exercise. So we stayed back silently. Then of a sudden, they appeared yesterday with machines ready to destroy properties. We could not even say a word” Marcel Tchomo a shop owner lamented.

” I just invested over 4 million into this shop but now, they have destroyed everything. I feed my entire family from the sales. Now everything has gone down. They did not even let me pack up my valuables” Morell Efundem said.

” It is not normal that people wake up one morning to see their shops destroyed. At least a notice should be given. We are about 21 and we are all fathers and mothers with house rents to pay and children to feed. We are tired and we do not know where this government is driving us to. This is totally inhuman and it hurts deep” another shop owner poured out his frustration.

One of the business owners said he has legal documents with authorization from the Mayor but cannot understand why his business was destroyed.

” A lot of complaints, attacks, and insecurity. A notice was given to the victims for relocation. Cameroonians are stubborn” Head of intervention unit Douala 5 told reporters.

The head of the intervention unit of the Douala 5 council police further said the action is to fight against urban disorder and make out space to construct modern toilets. Meantime, victims of the demolition say they are expecting the government to compensate them so they can manage with their families.

Source: Cameroon News Agency