Tag Archives: Investment

UAE to Give Ethiopia $3bn Aid Package

Abu Dhabi fund allocates $3bn aid package to Ethiopia
Abu Dhabi’s crown prince, Sheikh Mohamed Bin Zayed, throws a $3 billion lifeline to cash strapped Ethiopia in the form of aid ($1bn) and investment package ($2bn). But, what’s the catch?

BY AARON MAASHO / REUTERS

The United Arab Emirates pledged a total of $3 billion in aid and investments to Ethiopia on Friday, an Ethiopian official said, a major show of support for the new prime minister, Abiy Ahmed.

The UAE will deposit $1 billion in Ethiopia’s central bank to ease a severe foreign currency shortage, government spokesman Ahmed Shide told Reuters at a palace in Addis Ababa after Abiy met with Abu Dhabi’s crown prince, Sheikh Mohamed Bin Zayed. Continue reading UAE to Give Ethiopia $3bn Aid Package

A Review – Eritrea in 2017 (Part II)

The year 2017 was definitely a period full of activities and events for Eritrea, festivals, graduations, and more diplomatic activities.

BY MELA GHEBREMEDHIN | SHABAIT

What a year it has been for the world…and for Eritrea. The country has gone through a year of challenges and successes. Stronger diplomatic ties have been registered. New economic agreements have been signed. Continue reading A Review – Eritrea in 2017 (Part II)

Can Al-Amoudi Pay a Billion Dollar to Win Back His Freedom?

We’re talking about someone who owns 4.7% of Ethiopia’s economy, but …

At the end of the day, Sheik Mohammed Hussein Al-Amoudi shall be set free or has to bail himself out of the Saudi prison. Could his multi-billion dollar Ethiopia investments end up as collateral for his freedom? Bloody Egypt.

BY ABRAHA BELAY | ETHIOMEDIA

Saudi Arabia has released Prince Miteb bin Abdullah, the 65-year-old son of the late King Abdullah and former head of the elite National Guard, after he agreed to pay $1 billion to settle corruption allegations against him.

How about billionaire Mohammmad al-Amoudi? Is he able to pay $1 billion up front to secure his freedom? Continue reading Can Al-Amoudi Pay a Billion Dollar to Win Back His Freedom?

Why the Arrest of Saudi Arabia’s 2nd Richest Man is Causing Shockwaves in Ethiopia

Sheik Mohammed Hussein Al-Amoudi owns 4.7% of Ethiopia’s economy and employs 14% of its private workforce

Following the unprecedented purge, it is believed that many of the detainees will choose to cut deals with the Saudi authorities and win back their freedom. If Sheik Al-Amoudi is forced to cut a deal with the authorities, some of his substantial Ethiopian assets could end up as Saudi government properties. Damn Egypt.

BY ROGER BAIRD | IBTIMES

Saudi Arabia has arrested the country’s second richest man, Sheik Mohammed Hussein Al-Amoudi, as part of a wide-ranging ‘anti-corruption’ drive .

The specific charges against the 71-year-old Ethiopian-born billionaire, who holds Saudi citizenship are unclear, but he joins dozens of Saudi royal figures, ministers and businessmen being detained at the Ritz-Carlton in Riyadh. Continue reading Why the Arrest of Saudi Arabia’s 2nd Richest Man is Causing Shockwaves in Ethiopia

Nevsun – Buy On Past And Present Performance, Hold For the Future

Nevsun: Debt free mining firm with significant exposure to zinc. – Cash heavy balance sheet will allow management to develop world class copper-gold deposit without typical stress associated with such long lived assets. – Shareholder focused management.

By Massif Capital | for Seeking Alpha,

Debt free mining firm with significant exposure to zinc and the cash necessary to develop a recently acquired world class copper-gold deposit.

It is not often that you find a mining company with a producing mine, a debt-free balance sheet, and positive cash flow. Even more infrequent, a miner that has an existing world class asset in a supply constrained commodity and a world class development property in a European nation. If all of this sounds appealing, then Nevsun Resources (TSX: NSU & NYSE: NSU) will be of some interest. Continue reading Nevsun – Buy On Past And Present Performance, Hold For the Future

Eritrea – France Investment and Partners Event Held in Paris

By Eritrea Embassy Media,

The Embassy of the State of Eritrea in France launched its France – Eritrea Investment and Partner’s Forum, within an overarching event that was designed to bring together existing friends and partners of Eritrea as guests and speakers.

About 40 friends, diplomats, investors and Eritrean counterparts attended the event, which took place at the Embassy of the State of Eritrea in Paris.

Guests from a variety of areas were present, including politics, tourism, wildlife, telecommunication, investment, research, media, public relations and international organizations. Continue reading Eritrea – France Investment and Partners Event Held in Paris