Ethiopia’s state-owned electricity company, Ethiopia Electric Power (EEP), has agreed to pay USD 6.5 million to refund investors in the United States after failing to register bonds it marketed and sold to American residents of Ethiopian descent, the US Securities and Exchange Commission (SEC) said.
A series of violence and mass killings has left Gambella—one of the nine federal states in Ethiopia—in a state of severe insecurity and trauma especially after another round of violence that occurred near Jewi Refugee Camp on Thursday, left as much as 21 people dead and seven others heavily wounded.
By Wudneh Zenebe and Yonas Abiye
The long-awaited negotiation between the Ethiopian Electric Power (EEP) and the Italian construction company, Salini Costruttori, has been finalized enabling the latter to commence with the building of Gibe IV hydropower plant, The Reporter has learnt. The two institutions are also expected to formally ink an agreement shortly.
The Oromo People’s Democratic Organization (OPDO) Central Committee last week has relieved two of its higher officials of their duties in connection with the ongoing large-scale protests that have swept throughout different parts of the Oromia Regional State since November. They are Office head of OPDO, Daba Debele, and head of the region’s administration and security bureau, Solomon Kuchu.
Oromia International Bank (OIB), one of the private banks in Ethiopia with a wide shareholder base (12,000), said that its request to erect a 40-storey headquarters building in the newly up and coming finance district of Addis Ababa was not entertained by the Addis Ababa City Administration.
After the Federal Transport Authority issued an “urgent” notice for transporters' associations to report to the Galafi border town to ease the stockpile of goods at the Port of Djibouti, the price of cement has risen by some sixty percent.