Prince Aklile Berhan Mekonnen entered a deal with PPEPSA to renovate one of the oldest hotels in Ethiopia with an investment of 512 million dollar to upgrade it to a five star hotel. The investor will own 80 percent of the shares, while the rest will be government-owned.
The Federal High Court heard seven defence witnesses in the Askallukan Trading Plc criminal suit, involving Menna Terefe, the first defendant and general manager of the company, and three others, before adjourning the case for verdict pronouncing to October 19, 2010.
At age 7 Maheder Kebede lost her father and was raised by mom. Thinking about the future of the street kids that she walked by on her way to school made her relise that she might one day loose her mom too and become one of them. At age 9 she was able to change that fear into a dream. She decided to help less fortunate kids.
The singing of traditional songs, making jocular rhymes, and, especially, dancing epitomises a good night out, and they are all to be found at Duka, an azmari bet in Kasanchis, writes MIREILLE DE VILLIERS, SPECIAL TO FORTUNE.
At a busy taxi stop, one man has gotten creative with an immobile minibus; serving Besso, the traditional ground barley shake to peckish people in transit, looking for a quick and filling drink in-between taxis, writes MIREILLE DE VILLIERS
The third annual Art of Ethiopia exhibition at the Sheraton Addis opened on Saturday, August 21, 2010, with 40 established and aspiring artists displaying 400 artworks, writes MIREILLE DE VILLIERS, SPECIAL TO FORTUNE.
For the last few months, Internet connectitiy has been very poor. The fixed line broadband and CDMA users have both been having trouble getting the bandwidth they paid for, causing many owners of Internet Cafés a loss of revenue, writes HAILU TEKLEHAIMANOT and ADERAJEW ASFAW, FORTUNE STAFF WRITERS.
August 22, 2010 (ADDIS ABABA) – Ethiopian government said today that it will invest billions of dollars over the coming five years to enhance the road sector development program of the country.
Atekilt Terra, the biggest fruit and vegetable market in Addis Abeba, has two companies, Arada Vegetable Association and Bis Fruit & Vegetable Agro Industry SC, scrambling to be the first involved in its redevelopment.
The Privatisation and Public Enterprises Supervising Agency (PPESA) is auctioning Ethiopia Hotel again, from September, claiming that Bazeto Industry Trading Plc has failed to make the down payment on time.