ethiopiantimes

May 5, 2011

Heineken Acquiring Two State-Onwed Ethiopian Breweries For $

Filed under: Ethiopia — ethiopiantimes @ 11:31 pm
Tags: ,

Dutch beer company Heineken NV said on Thursday it is entering the Ethiopian market with the acquisition of two state-owned breweries.The company said it had been named the preferred bidder for Bedele brewery, which it is acquiring for $85 million, and Harar, for which it will pay $78 million.Commenting on today’s announcement, Tom de Man, President of Africa and Middle East for Heineken, said:”We are delighted that our offer to acquire these two breweries has been selected as the winner by the Ethiopian Privatization and Public Enterprise Supervising Agency. This transaction represents another important step in Heineken’s strategy of increasing its exposure to emerging markets and we look forward to working with the Ethiopian government to grow the Ethiopian beer market and economy. Ethiopia is one of Africa’s most promising beer markets and our expansion into this market underlines our commitment to Africa and strengthens our platform for continued growth in the region.”The two breweries have a total capacity of 600,000 hectoliters per year, and will make Heineken the No. 2 brewer in the country after BGI Castel, a unit of French company Groupe Castel.

“Heineken Acquiring Two State-Onwed Ethiopian Breweries For $” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.

If you are a new American Banking & Market News reader, we would like to welcome you to our website. American Banking & Market News provides daily coverage of analysts’ ratings for some of the largest publicly traded companies in the world. We cover news surrounding large-cap U.S. financial companies, including Citigroup, Bank of America, Wells Fargo and JPMorgan Chase and discuss the fledgling industry of peer to peer lending. American Banking & Market News publishes hundreds of press releases per day and is part of the American Consumer News, LLC network. We would invite you to consider following our ‘AmericanBanking’ account on Twitter and subscribing to our RSS Feed. You can always view our latest articles and video content by visiting our home page.

Advertisements

Five more feared dead in Turkana as Kenya protests to Ethiopia

Filed under: Ethiopia,Kenya — ethiopiantimes @ 9:44 pm
Tags: , ,

The government has protested to Ethiopia on the Turkana
At the same time, fresh information suggests five more people may have been killed by Merille bandits two days after 20 others were shot dead.

Turkana North district commissioner Jack Opuo could neither confirm nor deny the killings at Todonyang on the Kenya-Ethiopia border, saying security personnel had been dispatched to investigate the incident.

“Security personnel have been sent to verify the alleged killings,” said Mr Opuo on phone.

But residents fleeing the insecurity-hit area said among the dead were Mr Edapal Lokoyo, his two daughters, a Mr Nakonyi and another person.

“The victims were escaping from the trouble-hit area when they were shot dead,” said Ms Jacinta Ekai by telephone. She termed the killing an act of provocation.

Mr Opuo said a security meeting between administrators from the two countries would be held tomorrow to quell tension following the killing of 20 Kenyans.

A contingent of security personnel has been deployed to Todonyang to contain rising tension following the attacks.

The attacks followed the killing of four Merille fishermen on the shores of Lake Turkana on Monday.

More than 50 Turkana families have been evacuated from the border.

Also withdrawn from Todonyang are more than 20 Merrile families who are part of 3,000 foreigners on the Kenyan side of the border.

Internal Security assistant minister Orwa Ojodeh said both countries should not allow lawlessness to persist and that anyone found to have been involved in the killings would face the law.

Mr Ojodeh said that to counter any future attacks between the two communities, the government had moved the General Service Unit (GSU) and the Administration Police camps at Todonyang to the actual border point, 14 kilometres away.

The officers would be monitoring the movement into the country by the Merille people and screen them before they are let in.

Internal Security permanent secretary Francis Kimemia appealed for calm and urged the Turkanas to avoid revenge. The two communities had been coexisting at Todonyang Catholic Church, locally known as Kijiji.

Mr Kimemia said the Joint Border Commissioners meeting will be held early next week and that the vetting of respected leaders to join the Kenya Police Reserve was on.

The reservists will help the local security agencies in beefing up security along the border.

Plans are also under way to organise peace and reconciliation meetings in Kenya and between the tribes living on the border, he said.

Mr Ojodeh said the distribution of relief food would continue to deter the Turkana from moving to the Ethiopian side in search of food.

Karuturi Global denies reports of slashing of land concession by Ethiopian government

Filed under: Ethiopia — ethiopiantimes @ 7:48 am
Tags: , , , ,

Karuturi Global denies reports of slashing of land concession by Ethiopian government

Karuturi Global Limited has denied the reports published recently in the media stating that the Government of Ethiopia which had granted land concession to the company for cultivable land base of 311,000 hectares in Ethiopia, has reduced the concession by two-thirds to 100,000 hectares (247,105 acres).

The Founder & MD of the company Mr. Sai Ramakrishna Karuturi said that the reports claiming that the Ethiopian Government has reduced the land concession are completely baseless. The company is developing 111,700 hectares of agricultural land in the first phase and balance of 200,000 hectares still continues to be with the company as part of the concession and will be developed in a phased manner.

The stock closed the day at Rs.12.34, down by Rs.0.26 or 2.06%. The stock hit an intraday high of Rs.12.82 and low of Rs.12.16.

The total traded quantity was 8.76 lakhs compared to 2 week average of 6.44 lakhs.

Source: Equity Bulls

Ehiopia has no serious problem witht Sudan over Nile – official

Filed under: Egypt,Ethiopia,Sudan — ethiopiantimes @ 7:41 am
Tags: , ,

By Tesfa-Alem Tekle

May 4, 2011 (ADDIS ABABA) – An Ethiopian official said on Wednesday that Sudan has been showing an encouraging interest to cooperate in resolving the long crises over the Nile’s water and is not considered as problem to Ethiopia over the issue.


A Sudanese farmer from Tuti island, where the White Nile and Blue Nile merge, tries to recover a water pump from floodwaters of the Nile near Khartoum, Sudan Monday, Aug. 23, 2010 (AP)

“We don’t have a serious problem with Sudan. We have cordial relations with both north and south Sudan” Ethiopian Foreign Ministry spokesman Dina Mufti told Sudan Tribune.

South Sudan is due to separate from the north in July following a referendum in July, agreed as part of a 2005 peace deal.

Mufti said: “The Sudanese officials have been expressing desire towards solving the Nile row in cooperating with Ethiopia on equitable utilization.”

Egypt has been warning against any further dam building on the Nile water as it is concerned about the impact they will have on its historical water rights. Ethiopia have said the new dams they are building will not affect the flow of the water downstream and will bring large benefits to the country. According to Dina Mufti, Ethiopia has allowed a team of Sudanese and Egyptian experts along with other Ethiopian and international scientists, to observe the new dam.

“Sudan supports Ethiopia’s project on Nile as it learns the benefits in terms of electric power supply and regular water flow” foreign Affairs Minister, Hailemariam Desalegn said at a recent press conference.

“In addition to obtaining electric power supply, Sudan and Egypt could also benefit from enough and regulated water flow and decreased siltation” he said.

Ethiopian officials argue that, 19 billion cubic meters of water is wasted through evaporation in downstream countries while the Grand Renaissance Dam in Ethiopia would lower the number to 0.4 billion cubic meters.

Ethiopia announced last month it was building a $4.78-billion mega dam on the Blue Nile near the Sudanese border.

Egypt last week sent a 48-member popular public diplomacy delegation to pave a new approach in smooth its relations with Ethiopia over the water row. In respond to an encouraging gesture seen from the delegation, the Ethiopian government has agreed to delay ratifying the new Nile pact agreed by six Africa countries in Entebbe that seeks a change to the 1929 colonial era pact by Britain that gave lion’s share of the water to Egypt.

Ethiopia said the delay was made to allow Egypt to elect a new government after weeks of street protests brought down the Hosni Mubarek’s government in February.

Following the Entebbe agreement, Addis Ababa has rejected any bilateral dealing with Egypt.

The foreign affairs spokes person confirmed to Sudan Tribune that the Egyptian prime minister will arrive in Addis Ababa next week in which a number of agreements are expected to be signed with his Ethiopian counterpart.

When asked if there will be any bilateral deal to be signed between the two parties he said it is too early to comment.

“This is speculation; any agreements will be done after the meeting and a rumor on any bilateral deal is only hypothetical” Mufti said.

(ST)

Create a free website or blog at WordPress.com.