Indian Companies Invited to Seize Investment Opportunities in Ethiopia

Addis Ababa: Ethiopian Ambassador to India, Demeke Atnafu called on Indian companies to further invest in Ethiopia and seize the untapped business opportunities in the east African nation. Ambassador Demeke addressed the CII Gujarat State Annual Session on Opportunities in Africa, by presenting business and investment opportunities in Ethiopia, according to the Ethiopian Embassy in New Delhi. The ambassador underscored that Ethiopia is a preferred destination for investment. Demeke further elaborated the positive factors such as conducive economic climate, favorable market, abundant young and educated labor force, rich and diverse natural resources, cheapest electricity and water rate as well as sheds at nominal rate at industrial parks. Moreover, he elucidated in detail ample opportunities existing in agriculture and agro-processing, manufacturing, mining, ICT and tourism sectors and invited companies to invest in these and other emerging sectors such as telecom, finance, transport and logistics, health and housing development. The session was attended by more than 110 business leaders drawn from diverse industry sectors, it was learned. Source: Ethiopian News Agency

Mbouda: Man decapitates father for foodEthiopian Airlines Striving to Always Excel in Service Delivery, Customer Convenience: CEO

By Stephen TADAHA A 26-year-old man in Mbouda reportedly decapitated his father for failing to satisfy his hunger. The dreadful incident happened on the evening of Sunday, March 17, 2024, in the Lahtet neighborhood in the Mbouda subdivision of the West Region. According to close sources, the murderer whose name we got as Kenne Arrold had reached their family compound, demanding food to eat from his 70-year-old father who was unable to grant his his request. The man in reaction, with the help of a machete, slaughtered his father Mr Supawo Lucas in the presence of a child who was the only witness. Many suspect he did that under the influence of hard drugs given that Arrold is well known as a notorious drug consumer. Mr Supawo Lucas's body was later discovered in a pool of blood and taken to the mortuary of the Montchio hospital. The aged man was a primary school bus driver in Mbouda town, he leaves behind a wife and many children. The culprit on his part is being detained by security forces. Source: Came roon News Agency Addis Ababa: Ethiopian Airlines Group CEO Mesfin Tasew reaffirmed that the airline always strives to excel in service delivery and enhance customer convenience. In his press briefing he gave today, the CEO mentioned the various infrastructure facilities undertaken by the airline to this effect. The CEO outlined that the airline's ongoing efforts to enhance convenience and efficiency in its services include infrastructure expansion, increased fleet size and number of destinations, as well as improved service delivery. New procedures are in place to further improve services in a sustainable manner, the CEO stressed, adding that all the stakeholder institutions in the airport are demonstrating commitment to discharging their responsibilities accordingly. Ethiopian Airlines has won several prestigious awards over many years, for recognition of, among others, its continued rapid growth, increased profitability and outstanding contribution to aviation development in Africa. The airline has transported over 13. 8 million passengers and 713,875 tons of cargo in the year 2022/23, it was learned. Source: Ethiopian News Agency

WB Country Director Concludes Tenure

Addis Ababa: Prime Minister Abiy Ahmed extended gratitude to Ousmane Dione, World Bank(WB) Country Director, as he concluded his tenure in Ethiopia. "Thank you for your unwavering support throughout the past few years," PM Abiy posted on X. Source: Ethiopian News Agency

Mbouda: Man decapitates father for food

By Stephen TADAHA A 26-year-old man in Mbouda reportedly decapitated his father for failing to satisfy his hunger. The dreadful incident happened on the evening of Sunday, March 17, 2024, in the Lahtet neighborhood in the Mbouda subdivision of the West Region. According to close sources, the murderer whose name we got as Kenne Arrold had reached their family compound, demanding food to eat from his 70-year-old father who was unable to grant his his request. The man in reaction, with the help of a machete, slaughtered his father Mr Supawo Lucas in the presence of a child who was the only witness. Many suspect he did that under the influence of hard drugs given that Arrold is well known as a notorious drug consumer. Mr Supawo Lucas's body was later discovered in a pool of blood and taken to the mortuary of the Montchio hospital. The aged man was a primary school bus driver in Mbouda town, he leaves behind a wife and many children. The culprit on his part is being detained by security forces. Source: Came roon News Agency

Stakeholders name challenges, prospects for fishery, agriculture

By Eratus Ndueh The Cameroon Investment Promotion Agency (CIPA) are reportedly working in collaboration with other authorities, as well as other public and private bodies, to ensure that Cameroon demarcates itself as a reliable agricultural and fishery commercial hub for potential investors CNA has learned. This as they mobilize for the organization of their 4th edition of the Cameroon investment forum in Douala from April 17 to 19, 2024 under the theme: 'the attraction of productive investments in agricultural and fishery value chains with a view to intensifying the import-substitution dynamic in Cameroon,' with emphasis laid on the rice, corn, fish, milk and palm oil sectors. What added value is this forum going to provide Cameroon? In an exchange with an economist, Henri Kouam, the founder of the Cameroon Economic Policy Institute (CEPi), he told CNA that, the CIPA forum is going to brings values to Cameroon because it is an opportunity for the diaspora and potential investors to see the different inve stments opportunities in the agriculture sector. 'Cameroon is currently under producing rice, and therefore we have to rely on import from Indonesia, India and other countries.' He added that, 'we have problems in improving the palm oil sector. it's not untill a french company took over SOCAPALM, that we saw production increase dramatically and this has cause many to think that privatization is the answer to publicly owned companies.' The forum is also a leeway for local businesses and entrepreneurs to speak, meet and engage with potential investors in and out of the country, who will help them raise funds to expand their activities, reach new markets and create partnerships. However, the CEO of CEPI says, in as much as the country strives to promote import substitution policy, it should not be in conflict with free trade because they are mutually reinforcing. 'Cameroon can substitute import for things like fleur, by making cassava fleur. So while we are emphasizing import substitution in things like rice, palm oil, fish and corn, we should also ensure that we can buy from the most effective producers across the world. Because the point is to make sure that consumers pay the lowest price for these goods,' ex-railed Henri Kouam. Some difficulties facing Cameroon in the sector. According to reports, Cameroon has been going through lot of challenges to meet up to standards in the sector. As outlined below; The lack of financing especially for women has been the main impediment to the growth and development of the sector. We have not been able to measure the effectiveness of agricultural policies that have been put in place by the government, partners or private sector. There is a lack and the absent of synergy between the civil society, the private sector and government to coordinating their actions to improve productivity. The business environment is currently difficult for agricultural companies. Taxation is too high 30 to 33 percent in taxes is too high for someone who just started farming. As a solutio n, expert propose that the government should reinstate the 3 years tax break that was given to companies when they registered. This is going to encourage more businesses to register and as a result will have the greatest share of farmers financially stable and accessing banks and financial institutions. Source: Cameroon News Agency

Rigobert Song takes legal action against two journalists for calling his coaching diploma ‘fake’

Former coach of the Indomitable Lions Rigobert Song has filed a law suit against two journalists Theophile Awana and Pinon Omgba, for saying he possesses a fake coaching certificate. The remarks were made on a televised programme on Canal 2 International in February, and the coach reacted, promising to file a complaint against the individuals. The media men have been summoned to appear before the court of first instance in Yaounde on Tuesday, March 19. The communique signed by Song's lawyer, barrister Bayebec, indicated that the claims by the journalists are 'unfounded'. It added that the statements were 'not only to harm the image of Mr. Song Bahanag Rigobert, but also and especially his honorability'. Rigobert Song parted ways with the Indomitable Lions as head coach after his contract ended on February 29. The Cameroon government through the Minister of Sports, Narcisse Mouelle Kombi and the Cameroon Football Federation, said the coach's contract could not be renewed due to insufficient results. His exit came after the Lions crashed out of the AFCON 2023 in Cote d'Ivoire in the round of 16. Source: Cameroon News Agency

YOSA: Players threaten to boycott playoffs over non-payment of salaries

Yong Sports Academy Bamenda have said their players are threatening to boycott the 2024 Elite One playoffs over the non-payment of salaries. The club made the revelation in a letter written to the Cameroon Football Federation on March 15, demanding the payment of subventions this season. YOSA said they have not received any payment since the start of the current season. The club pointed out that the only financing they received this season, was the fourth installment of last year's subventions. The club added that it has succeeded to pay just two months of players' salaries in the 2023-2024 season. The North West side is among 15 clubs whose players were temporarily suspended by FECAFOOT for double identity. The Cameroon FA has a pile of outstanding problems to resolve before the start of the playoffs. The kick-off of the tournament was postponed from March 15 to March 22, 2024. Source: Cameroon News Agency

YOSA: Players threaten to boycott playoffs over non-payment of salaries

Yong Sports Academy Bamenda have said their players are threatening to boycott the 2024 Elite One playoffs over the non-payment of salaries. The club made the revelation in a letter written to the Cameroon Football Federation on March 15, demanding the payment of subventions this season. YOSA said they have not received any payment since the start of the current season. The club pointed out that the only financing they received this season, was the fourth installment of last year's subventions. The club added that it has succeeded to pay just two months of players' salaries in the 2023-2024 season. The North West side is among 15 clubs whose players were temporarily suspended by FECAFOOT for double identity. The Cameroon FA has a pile of outstanding problems to resolve before the start of the playoffs. The kick-off of the tournament was postponed from March 15 to March 22, 2024. Source: Cameroon News Agency