By Habel Chidawali and Louis Kolumbia

Dodoma/Dar es Salaam — The Minister of State in the President’s Office (Regional Administration and Local Government), Mr George Simbachawene, and deputy minister for Works, Transport and Communications, Mr Edwin Ngonyani, have resigned.

Their resignations came just a few hours after President John Magufuli ordered officials who were implicated by the Committees formed by the Speaker of National Assembly, Mr Job Ndugai, to investigate tanzanite and diamond mining handed over their reports to the Head of State.

Addressing reporters in Dodoma, Mr Simbachawene said he decided to resign after listening to the President’s speech during the reports handover ceremony at State House.

Mr Simbachawene said he was taking political responsibility by stepping down.

“I didn’t sign the contract (the sale of TanzaniteOne to Sky Associates) but I’m stepping down because I was the minister for Energy and Minerals, at the time the contract was signed,” said Mr Simbachawene.

He thanked President Magufuli for having given him the chance to serve Tanzanians.

Mr Simbachawene, however, said he believed his name will be cleared by security organs, which have been ordered to conduct thorough investigations over the matter.

Reached for his reaction, Mr Ngonyani said he was writing a resignation letter in line with the President’s directive to those, who were implicated in the reports.

Speaking to The Citizen, Mr Ngonyani said he held no grudges against President Magufuli.

“Yes, I heard what the President has ordered. I’m currently writing my resignation letter. I support the President’s efforts to make sure that the country’s resources benefit its citizens,” said Mr Ngonyani in a telephone interview.

The committee chaired by Mr Mussa Azzan (Ilala MP on the ticket of CCM), which investigated diamond mining, accused Mr Ngonyani, who was then working with the Ministry of Energy and Minerals, of misleading the government by advising it not to buy Petra Energy and Minerals therefore denying the government a chunk of the $362 million between 2006 and 2016.

Speaking at State House, Dr Magufuli said he had no doubt the reports which exposed a number of irregularities in the diamond and tanzanite extraction businesses were fair.

“Implicated persons may be clean or hardworking, polite and handsome but their names are here in the report. I don’t believe that members of the probe committees hold any malicious intentions towards them,” he said.

“Had the findings of these investigations been politicised, I would have today formed another expert committee to investigate the same. But, I see that they have done their job well,” said President Magufuli.

The Head of State handed over copies of the two probe reports to the heads of the Prevention and Combating of Corruption Bureau (PCCB), the Police Force and the Tanzania People’s Defence Forces (TPDF) and directed them to take legal measures.

He ordered Prime Minister Kassim Majaliwa to convene mineral legal experts including those from the Office of the Attorney General (AG) and the Ministry of Energy and Minerals to initiate a process to amend laws supervising and regulating extraction of diamond and tanzanite in the country.

He ordered engagement of security organs in safeguarding natural resources asking them to prepare a strategic plan on how to secure gemstones. Speaking during the event, Prime Minister Kassim Majaliwa said the probe teams unveiled many loopholes in minerals supervision including theft, embezzlement, corruption and lack of unaccountability. He suggested huge reforms in the minerals sector.

“Also, a new system should be formulated to enable the government benefit from small miners because the report shows that out of 291 licensed miners, only one was operating in Shinyanga denying the country of revenue,” he said.

Earlier on Mr Azzan who chaired the Committee that investigated diamond mining advised the government to revoke a licence issued to Williamson Gold Limited (WGL) that operates in Mwadui, Shinyanga should be revoked and be given to the locals.

For his part, the chairman of the tanzanite probe team, Mr Dotto Biteko, said the country was losing billions of shillings in mineral extraction.

“Over Sh8 trillion is approximated to have been generated from 1998 to 2017. But, records from the Tanzania Revenue Authority (TRA) and the Commissioner of Mineral show that only over Sh400 billion equivalent to 5.2 per cent was collected by the government,” he revealed.

President Magufuli also supported a previous Parliamentary resolution that MPs who have been implicated in many scandals should be disciplined by their parties.

“Don’t hesitate to write letters to political parties about these MPs. I’m the chairman of my political party. We will use our procedures to warn the MPs or ask them to defend themselves according to our party regulations,” said the President.

By James Kariuki

Uganda is secretly wooing disgruntled Kenyan plastic bags manufacturers to relocate to the capital Kampala following a total ban in the country.

In a letter sent to Kenyan plastic bags manufacturers entitled “Investment Opportunity in Plastic Sector”, Uganda says there is big growth opportunity in the country for manufacturers of quality packaging material.

“We have laws to protect and allow investors to repatriate their profits as they deem fit. Likewise, their expatriate staff can come in easily,” says the letter authored by the Uganda Investment Authority (UIA).

A Kenya Gazette notice signed by Environment secretary Judi Wakhungu outlawed the manufacture, import, sale or use of plastic carrier bags in Kenya.

The ban has caused loss of thousands of jobs as manufacturers suspended operations to avoid steep fines stipulated under the law.

Makers of alternative carrier bags are, however, doing booming business, while supporters of the new law cite its potential to check environmental pollution by the non-biodegradable plastic bags.

Usage of the bags now attracts a fine of up to Ksh4 million (about $40,000) or a two-year jail term.

All East Africa Community (EAC) member countries were supposed to ban usage of plastic bags, but so far only Kenya and Rwanda have effected the bans.

High quality packaging

Uganda is flaunting its economic growth rate of between five and seven per cent to entice Kenyan manufacturers.

“Many Ugandan enterprises are missing out on opportunities in larger markets because their packaging does not meet international standards. In order for Ugandan processed honey, fruit juices, mineral water, herbal medicines and chemicals, among other products to be competitive nationally, regionally and globally, the packaging has got to be of high quality,” says the letter.

The invite signed by UIA investment executive Robinah Magoba says most Ugandan companies import plastic packaging material from Kenya where the PVoC (Pre-Export Verification of Conformity to Standards Programme) packaging technology was in use.

“PVoC technology is more acceptable worldwide and most of the companies that need good quality packaging, import their customised packaging material from Kenya, South Africa and China,” says the letter.

Relocation

Some Kenyan firms are said to have since established subsidiaries in Uganda and the invitation is intended to convince them to relocate their machinery.

UIA says it has a One Stop Centre (OSC) where investors will be assisted to register their businesses, acquire work permits for foreign workers and acquire land as well as get the necessary regulatory approvals.

As part of the East African Community (EAC), Uganda supported calls to curb proliferation of plastic wastes but adopted the waste management proposal where it plans to establish recycling facilities to handle waste plastics while promoting use of plastic packaging for its industries.

By Hassan Adebayo

The Senate and its serial critic, Itse Sagay, are sparring again.

This time, the Senate accuses the senior lawyer and presidential adviser on anti-corruption of hate speech and claims he is a “senile, jaded, rustic and outdated Professor of Law” who may be “under influence of substance.”

The latest wrangling followed a claim by Mr. Sagay that a Nigerian Senator gets N29 million in monthly pay in a speech he delivered at the Nigerian Society of International Law public lecture in Lagos on Wednesday.

“From the information I have gathered, a Nigerian Senator earns about N29 million a month and over N3 billion a year,” the professor said.

“Basic salary N2,484,245.50; hardship allowance, 1,242, 122.70; constituency allowance N4, 968, 509.00; furniture allowance N7, 452, 736.50; newspaper allowance N1, 242, 122.70.

“Wardrobe allowance N621,061.37; recess allowance N248, 424.55; accommodation 4,968,509.00; utilities N828,081.83; domestic staff N1,863,184.12; entertainment N828,081.83; personal assistant N621,061.37; vehicle maintenance allowance N1,863,184.12; leave allowance N248,424.55; severance gratuity N7, 425,736.50; and motor vehicle allowance N9, 936,982.00,” Mr. Sagay added.

In an interview with PREMIUM TIMES on Thursday, he challenged the Senate to prove him wrong by publishing what the lawmakers collect as salaries and wages.

However, in a statement on Thursday, the Senate spokesperson, Abdullahi Sabi, replied with vicious remarks and asked President Muhammadu Buhari to rein in the at the septuagenarian lawyer, whom the Senate accused of “making hate speeches” against the National Assembly and using “uncouth and unprintable words” to describe the legislators and the institution they represent.”

“Ordinarily, we would ignore Sagay whose statements and attitude present him like a rascal and sadist instead of a former university teacher. However, his last speech in Lagos during which he was reeling out false and exaggerated figures about the salaries and allowances of legislators and also lied about the passage of anti-corruption bills showed that he just deliberately set out to undermine the legislative institution and lower its reputation in the estimation of right thinking members of the society and we therefore believe we should put him in his rightful place.

“As an academic whose creed should be to find facts and make comments based on truth, we believe that Sagay should stop spreading beer parlour rumours about the salaries and allowances of legislators when he could simply get the facts from the Revenue Mobilization and Fiscal Allocation Commission (RMFAC) which is the body constitutionally charged with the responsibility of fixing salaries and allowances of all public officials,” said Mr. Sabi.

But he was yet done.

He said Mr. Sagay’s comparison of remunerations of a U.S. president and a Nigerian lawmaker was like comparing oranges and apples and that only “a senile, jaded, rustic and outdated Professor of Law like Sagay will make such a comparison which falls flat on its face, even to an ordinary lay man.”

The senator added: “This man talks like a man who is constantly under the influence of some substance and perhaps possessed as he employs the language of a tout with no civility. He is probably constantly excited and incensed by the fact of having his first opportunity to find himself in the corridors of power.”

Speaking further with PREMIUM TIMES, Mr. Sagay said he was unperturbed by the statement from the Senate calling him “loose cannon” who should be “put in his right place” by Mr. Buhari.

Asked how he arrived at his figures, he said, “It is not a figure that I arrived at; it’s a figure that was printed (for me) and published on the internet with very convincing details.”

Otherwise, he added, “If the Senate says what I say is false, they should publish what is right. right. If these figures are being doubted, write to the Senate President asking him to deny or confirm them.”

He was asked what particular issue he had against the Senate in the context of the accusation by the lawmakers’ spokesperson that every opportunity to address the public would be employed to disparage the Senate by Mr. Sagay.

“Firstly,” he said in response, “the minimum wage in Nigeria is N18,000 and the Senate is a group of people who actually vote their own minimum wage for themselves. The President does not determine his wage but the Senate takes a chunk of our budget and gives itself.”

“Secondly, their allowances: their basic salary in a year is N2,484,000. Then they collect hardship allowance which is 50 per cent of basic salary. Is there hardship in being a Senator? They stay in air-conditioned offices with beautiful cushions and live a luxurious life and yet collect hardship allowance. Then, there’s constituency allowance, 200 per cent of basic salary; furniture allowance, 300 per cent of basic salary; newspaper allowance, 50 per cent of basic salary. So, our senators cannot afford to buy their own newspapers, Nigeria has to buy newspapers for them? Wardrobe allowance, 25 per cent of basic salary. So, they arrived in Abuja stack naked, meaning we have to clothe them.

“Recess allowance, 10 per cent of basic salary; Accommodation allowance, 200 per cent of basic salary; utilities, we don’t even know what that means, 30 per cent of basic salary.

“Domestic Staff, 75 per cent of basic salary; entertainment, 30 per cent of basic salary; personal assistant, 25 per cent of basic allowance; vehicle maintenance allowance, 75 per cent of basic allowance; leave allowance, 10 per cent of basic salary; severance gratuity, 300 per cent of basic salary; motor vehicle allowance, 400 per cent of basic salary.”

“90 per cent of Nigerian youth are jobless, involved in kidnapping, armed robbery and so on. Boko Haram came because the people are jobless and a few people are earning over N3 billion a year. One can’t be neutral, should Nigerians be deprived of all these by small elite who think of themselves alone and do not care about the country.”

By Kennedy Kangethe

Nairobi — Kenya is set to benefit from the adherence to the Supreme Court ruling that nullified the Presidential results.

According to economic experts, the decision will enhance political predictability for investors boosting Kenya’s attractiveness as an investment destination.

Cytonn Investments Chief Executive Edwin Dande says the decision has raised the country profile with regard to constitutionalism, the rule of law and has reduced the country’s political risk.

“One of the best outcomes about this election petition is that it shall increase the size of ugalis on our tables. Raila having now gone to all courts – high court, court of appeal and Supreme Court and accepted their rulings, I think the probability of or room for ever going to the streets again is radically reduced. In short risk perception goes down, asset prices go up, which means more ugalis on our tables. We are all winners,” he said.

President Kenyatta expressed dissatisfaction with the ruling but said he respects the decision of the court that ordered the Independent Electoral and Boundaries Commission to conduct a fresh presidential election within 60 days.

Stanbic’s Bank Purchasing Managers Index for August is of the view that despite the immediate losses that were experienced after the supreme court decision, the response by the political class will likely attract foreign investors.

“The decision by the court is indeed a reflection of Kenya’s strengthening institutions and will certainly appease the foreign investor community,” the survey said.

The decision, which caught many by surprise, saw investors’ wealth at the Nairobi Securities Exchange (NSE) decline having lost Sh130 billion on Friday and Monday this week.

“Nobody really expected such a decision, and investors do not like unpredictability,” Genghis Capital Research Analyst Gerald Muriuki told Capital FM Business.

However, Market Capitalization at the Nairobi bourse went up on Tuesday by Sh23 billion to close at Sh2.37 trillion reversing the losses experienced over the last two trading days.

But global rating agency Moody’s says the Supreme Court move will negatively affect the country’s credit ratings and will prolong policy sluggishness and uncertainty.

According to the agency the ruling has brought about the political uncertainty that has already damaged business confidence and undermined economic growth.

The election fever was felt in August with Stanbic’s purchasing index revealing private sector activity slid hitting fresh lows with new orders falling for the first time in the survey’s history.

Orders also fell for the first time in over three years, while employment also fell in August.

The JSE listing of SA billionaire Patrice Motsepe’s African Rainbow Capital Investments (ARC Investments) reflects the progress of transformation in the financial services sector, a JSE spokesperson said on Thursday.

ARC Investments made its debut on the South African bourse at 09:00 on Thursday, with the share opening trade at R8.68.

Speaking on the significance of the listing, director of capital markets at the JSE Donna Nemer said creative ways such as this are needed to enable economic transformation. “We need to find creative ways to accelerate economic transformation.

“Using capital markets to do that is the best you could hope for. That allows direct membership of individuals with assets that can be invested towards transformation.”

In his address, Motsepe said this listing comes after a 17-year journey. “I put aside R200m about 15 years ago. It was part of a strategy to diversify and get into financial services,” he explained.

At the time Sanlam CEO Johan van Zyl and Motsepe decided to work together to help build investment and equity in Sanlam, which was going through a difficult time, as well as a “world class” financial services company. “We had to compete not just against the best in South Africa, but against the best in the world.”

Motsepe also expressed his gratitude to the board which helped make the listing possible. “Black and white South Africans can work together, not just to build world class companies but also to create jobs and express our confidence in the economy.

“Despite our political challenges, this country has got the most wonderful people, the most caring, entrepreneurial, hardworking people. That gives us confidence.”

ARC Investments is a capital raising and investment entity incorporated in Mauritius. Investors will have the opportunity to invest in a permanently broad-based black controlled company with a diversified portfolio of investments.

African Rainbow Capital Proprietary Limited (ARC) will remain the majority shareholder of ARC Investments. Shareholders will invest alongside ARC in the initial portfolio, which is made up of 16 investments in the financial services sector and 17 non-financial services investments.

Financial services include interests in Alexander Forbes Limited, Alexander Forbes Group Limited, Indwe Broker Holdings, Senayo Securities and Santam. The portfolio includes investments in agriculture and food production, building and construction, energy, information technology and communications, investment holding companies and real estate businesses. Investments in telecommunications are most significant.

ARM results

Motsepe’s African Rainbow Minerals annual results for the year ended June 30 were also released on Thursday. Headline earnings increased 204% to R3.19bn, with headline earnings per share at 1684c compared to the 494c reported previously.

ARM declared its highest dividend to date at 650c per share, up 189%.

Source: Fin24

By Nuusita Ashipala

Oshakati — Former mayor of Oshakati Ben Kathindi spent three hours on Friday chained to a pole in scorching heat, protesting silently against the Ministry of Works and Transport which he accuses of not caring about local engineers, quantity surveyors and architects.

He protested outside the Namibian Broadcasting Corporation (NBC) northern offices.

The director of Ben Kathindi Architects, on a poster tied around his neck, indicated that other professions are next in the line of sale by government ministries.

The poster read: “Slaves for hire/for sale. The Namibian House is selling its professionals: architects, engineers, and quantity surveyors.”

Kathindi’s protest follows several other interventions in an attempt to halt the Ministry of Works and Transport from extending the expired memorandum of understanding (MoU) between Namibia and Zimbabwe for another five years.

In recent weeks, the Minister of Works and Transport Alpheus !Naruseb exempted 29 Zimbabweans from certain professional registration, allowing Zimbabwean quantity surveyors and architects to work in the country for another five years.

Cabinet has since ordered the ministry to review the process.

Also making a stop at NBC where Kathindi was protesting was a local engineer Tuli Nashidengo of Archetype Project Consultants, who said he equally feels the pinch of being disadvantaged, unappreciated and seemingly not being prioritised when opportunities arise.

“I fully understand his plight – the message is clear and what he is trying to convey is quite obvious, and he knows what he is talking about,” said Nashidengo. Not knowing until when the silent master planned to stretch the protest, Nashidengo said there was need to show solidarity for the good of everyone.

Kathindi’s liberator for the day was Johannes Kandobo, formerly a chief regional officer of Oshana Regional Council, who freed him from the chain. He said the situation is an embarrassment to the country and the world at large.

Without giving further details, Kandobo said the message was clear to everyone and that it was time for him to return home.

After Kathindi refused to talk to him several times, Kandobo body searched him but found no keys.

He left the spot and returned minutes later with a bunch of keys of which one eventually opened the lock, much to the excitement of the silent protestor who without saying a word raised his arms wide up, signalling victory.

Job seekers who gathered opposite the corporation said Kathindi pitched up at nine in the morning and had not said a word to anyone, including police officers, who pitched up in four vans.

Kathindi in 2011 also chained himself at the National Housing Enterprise head office in Windhoek demanding payment for work his architecture company has done for the enterprise.

By Bilal Derso

Ethiopia’s trade and investment relation with Gulf countries/Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates/ has though shown progress since recent years, there is a huge imbalance compared with country’s untapped economic opportunities and latter’s enormous capital.

Most of the Gulf countries have plentiful petroleum resources that have enabled them to be among world economic powers with immense potential for Foreign Direct Investment (FDI).

The price fluctuation of oil in global market has, however, posed a challenge and reduced energy exporting nations’ revenue from the sector. As a result, there is a growing demand among Gulf countries to lower their dependence on oil revenue and diversify their economies.

On the other hand, Ethiopia has offered wide investment opportunities for Gulf countries in the areas of agriculture, energy, health care, tourism and hospitality sectors which are crucial for the latter to achieve their goals of economic diversification.

In an exclusive interview with The Ethiopian Herald, Ministry of Foreign Affairs Middle East Affairs Director- General Ambassador Suleiman Dedefo says the previous government’s failure to adopt investment friendly polices coupled with the Arabs’ limited investment mentality had limited the active economic ties of the two.

Ambassador Suleiman further notes that the historical mystification of denying Ethiopia’s membership in the Middle East community and repudiating the fact that its peoples share similar cultural and religious identities with the Arabs were also hampered the two sides from making a meaningful economic engagement.

He says: “Some individuals held wrong perception towards Ethiopia and trying to portray the country as the enemy of Arabs working to block Islamization and Arabization in East Africa. In fact, our previous leaders had a tendency of accepting this mystification.”

An important milestone in boosting economic ties was Ethiopia’s adoption of Foreign Affairs and National Security Policy and Strategy that attaches due emphasis to mutual economic benefits. In this regard, relation with the Gulf countries is deeply focused to attract FDI and to make them destinations for agricultural exports, Ambassador Suleiman notes.

The Foreign Policy redefined poverty, not countries, as a threat for country’s survival and gave emphasis for peaceful co-existence. In this regard, the Policy has registered remarkable success in correcting the wrong preconceptions and built the trust of Arab leaders giving guarantees for their investors to do business in Ethiopia.

Ambassador Suleiman says the signing of Agreement for Promotion and Protection of Investment and Avoidance of Double Taxation with some Gulf countries would also play pivotal role to attract more investment from the region to Ethiopia.

In its endeavor to make Ethiopia attractive to FDI globally, the government has also been hugely investing to improve infrastructural networks and set policies that create favorable investment climate. The efforts have borne fruits by attracting large-scale Gulf companies including Sheikh Mohammed Hussein Ali Al Amoudi’s multi-sector corporate MIDROC and UAE-based companies like Julphar Gulf Pharmaceutical Industry and Al Ghurair Group’s Aluminum Factory.

Information obtained from the Ethiopian Investment Commission indicated that during the past six years, Saudi Arabia and UAE have been the leading investing countries from the region spending seven billion Birr and 360 million Birr respectively.

While Saudi Arabia remains the 4th largest foreign investor in Ethiopia, Derba MIDROC Cement Factory and Saudi Star Agricultural Development Plc. are among its flagship projects. Julphar Pharmaceuticals and Maaza Mango Bottling plants which both set up in joint venture with local firms, are among UAE investment.

The Director-General states that Gulf investors have shown a growing desire to involve in Ethiopia’s agriculture sector and re-export produces to their own markets so as to support their countries goal of ensuring food self-sufficiency through overseas investment.

Accordingly, Gulf leaders set various platforms including King Abdullah’s Initiative for Saudi Agricultural Investment Abroad and Abu Dhabi Fund for Development to encourage investors engaged in the sector while eyeing Africa as a primary destination.

Suleiman says: “Currently many Gulf investors came to Ethiopia to conduct feasibility studies in the agriculture, hospitality, energy and pharmaceutical industries and some of them obtained investment licenses. In addition, some business persons got plots to build star designated hotels and we expect greater inflow among Gulf investors in few years to come.’

Concerning trade, Gulf countries have been among Ethiopia’s main destinations for its agricultural exports such as live animals, meat, cereals, fruits, vegetables and flowers among others.

The Director General says Ethiopian missions in the Gulf have played a leading role in fostering economic partnership through promoting country’s investment opportunities, seeking markets for its agricultural exports and linking the two sides business people.

Ministry of Trade discloses that Ethiopia obtained 326.5 million USD from exporting agricultural commodities to the Gulf in 2016/17 fiscal year. Saudi Arabia and UAE are the largest export destinations to Ethiopia importing 196.5 million USD and 120.7 million USD worth produces respectively.

“Starting from nearly non-existent economic platform, the current government has changed the intangible suspicion with Gulf countries to the tangible trade and investment relations,” Ambassador Suleiman stresses.

The economic expert, Zemedeneh Negatu, agrees on Suleiman’s idea. He says among other things, the decision Dubai Chamber of Commerce and Industry /DCCI/ made to open its first International Branch Office in Addis Ababa showcased the development.

Zemedeneh notes that a few months back Ezdan Holding Group, one of the biggest companies in Qatar, came to Ethiopia to invest in the real estate business and its representatives conducted discussions with high level public officials.

Yet, this is insignificant when compared with Ethiopia’s untapped investment opportunities and the desire Gulf countries have shown for investing in the former.

Zemedeneh stresses that identifying region’s objective reality is so crucial to benefit more from the economic engagement. In this regard, he advises the government and other stakeholders to give attention for agricultural sector so as to take the advantage of Gulf countries’ reliance in food importation.

He says: “Supporting by high soil fertility, the amenability of its climate towards the cultivation of diverse range of crops and the comparative abundance of water, Ethiopia could be one of the major sources of food for the Gulf countries.”

Economic analyst at the Embassy of the United Arab Emirates to Ethiopia, Dr. Fikru Deksisa agrees with Zemedeneh. He states agriculture should be the primary target for Ethiopia in doing business with the Gulf where farming is more difficult and expensive due to harsh climate and low water supply.

Dr. Fikru notes that keeping quality standards has an indispensable role to narrow the gap between Ethiopia’s potential for agricultural export and its actual performance in the Gulf food market. He further states exporting quality items would also enable Ethiopia to take over the dominant share countries far away from the region have enjoyed in Gulf’s agricultural market.

He says: “Export quality gaps hinder Ethiopia’s competitiveness in the Gulf food markets and if we able to supply commodities with the desired quality level and appealing packages, they have no reason to go far away to buy agricultural products.”

Zemedeneh on his part advises stakes to do more investment promotion activities that would boost the business community’s awareness and to lure additional investment from the private sector and the state owned companies of the Gulf.

The economic expert says Ethiopian missions are expected to partnering with relevant bodies of the respective countries to aware Gulf investors to deploying their huge capital in Ethiopia’s manufacturing, energy, hospitality and other key sectors and benefit more.

Dr. Fikru agrees with Zemedeneh, he states Ethiopian embassies and consulate generals in the region need to extending trade missions that would have a role to aware Gulf investors country’s untapped investment opportunities. The trade missions would also pivotal to Ethiopia find new markets for its exports and initiate business people to invest in the respective countries.

Signing investment protection and promotion agreements, promoting country’s investment opportunities and improving agricultural exports quality are measures the government should strengthen to create the much desired synergy between Ethiopia’s economic opportunities and the Gulf’s huge capital, the experts underscore.