Ethiopa

Dangote Cement May Shut Ethiopian Plant Over Mining Disputes

Posted on by The Editorial Team
Dangote Cement May Shut Ethiopian Plant Over Mining Disputes

ADDIS ABABA (Capital Markets in Africa) – Dangote Cement Plc, controlled by Africa’s richest man, Aliko Dangote, said it may shut its operations in Ethiopia if authorities in the central state of Oromia don’t reverse an order to cement makers to hand over control of some parts of their businesses to local young people. Oromia state’s East Shewa Zone administration wants the Nigerian company to outsource its pumice, sand and clay mines to youth groups or…

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‘Ethiopia to overtake Kenya as Eastern Africa’s top economy’

Posted on by The Editorial Team
‘Ethiopia to overtake Kenya as Eastern Africa’s top economy’

ADDIS ABABA (Capital Markets in Africa)- Ethiopia’s economy is expected to overtake Kenya’s this year, buoyed by massive government spending on infrastructure that has kept the Horn of Africa nation in the list of the world’s fastest economies in the past 10 years. The International Monetary Fund’s (IMF) latest statistical estimates indicate that Ethiopia’s gross domestic product (GDP) is forecast to grow from $61.62 billion in 2015 to $69.21 billion this year, narrowly beating Kenya’s output…

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