Ethiopia raises US$350 million for mega dam
Ethiopia raises US$350 million for mega dam
Source: Africa Report
More than US$ 350 million has been mobilised from various sources in Ethiopia to support the construction of Africa’s biggest dam.
The Great Renaissance Dam to be built over the Nile River will cost US$5 billion.
The US$350 million was raised over the last six months from civil servants, private sector employees, students and private business people as well as Ethiopians in the Diaspora.
Those who want to support the project have been encouraged to buy government bonds.
As part of celebrations to mark the Ethiopian New Year on Monday, the government gave awards to various individuals and organisations in recognition of their contribution to the fundraising efforts.
The awards ceremony on New Year’s Eve saw companies and individuals who contributed at least US$100 000 getting the silver award.
Those who bought bonds worth more than US$400 000 received the golden award.
Companies and individuals that gave between US$ 500 000 to a million received the platinum award.
Business tycoon Sheik Mohammed Ali Alamoudi was given a special award after he pledged to buy bonds worth US$100 million.
According to the government, the awards are meant to motivate Ethiopians to continue supporting the project.
The dam was launched in April despite opposition from Egypt, which says the dam will reduce the amount of water flowing downstream.
But Ethiopia insists that the construction of the dam will not affect downstream countries such as Egypt or Sudan.
Despite the assurances, Ethiopia and Egypt have been locked in discussions over the viability of the dam.
Ethiopian Prime Minister Meles Zenawi has repeatedly said nothing will stop his country from constructing the dam.
When complete, a hydropower station with a capacity to generate around 5 250 megawatts of electricity will be set up in the next three and four years.
Electricity generation is expected to start in the next two years.
Deputy Prime Minister and Minister of Foreign Affairs, Hailemariam Dessalegn said Ethiopians continued to buy the bonds.
Dessalegn who is also the chairperson of the national committee for the construction of the dam said Ethiopians were offering various other kinds of support for the project.
Ethiopia plans to become Africa’s exporter of electricity after constructing several dams along the Nile.
It is already started selling electricity to Djibouti and plans to start exporting to Sudan early next year.
The Horn of Africa country has also undertaken to export electricity to Kenya.
Power interconnections infrastructure work is currently being undertaken between Ethiopia and Kenya with the support from the African Development bank, which has provided over $ 300 million for the project.
Tags: energy
Permalink39 comments
Comment from: Truth [Visitor]
Great News!!!! Now you will see the comments in bottom. loooooooooool just look at how they Hate Ethiopia. Just because one person thas leading Ethiopia is from Tigrai .....just look at the hate they harbor inside of them. is realy sad meles zenawi yemeche aba
09/13/11 @ 23:29
Comment from: Aseb [Visitor]
A simple forced purchase of government bond or borrowing by the regime. The Last that I heard the dam was supposed to cost $3.4 billion dollar. I wounder where the governmetn is goin to come with the remaining funds. I don't know any one in the Diaspora purchase a bond. If inflation is 30 % would any one in his right mind purchase a bond with a coupon or rate or return of 5%. You are losing 25 cent one the dollar or 25 birr on 100 birr. Is that a smart investment? Even a stupid Woyenea will not purchase a bond at % 5 or 7 % losting 25 %. What a jock.
09/14/11 @ 00:34
Comment from: Gashaw [Visitor]
One great news after an other!!! yeKefta zemen leEmama Ethiopia!!! Praise be thy name, O Lord!!!
Liqu sew yiqetil, yeEthiopia telat hulu yiqatel!!!
Liqu sew yiqetil, yeEthiopia telat hulu yiqatel!!!
09/14/11 @ 00:37
Comment from: DEMELASH [Visitor]
BEFORE YOU BUILD YOUR SILLY DAM ,FIRST
FEED YOUR STARVED PEOPLE,
FEED YOUR STARVED PEOPLE,
09/14/11 @ 01:30
Comment from: liku [Visitor] 
Happy New Year to all Ethiopia's Lovers!!!
Renaissance is being a reality in Ethiopia in new millenniume in every sector.Simply observe with open mind not like losers do.
Asseb the shallow mine,you seem to be at a loss when saying the financing of the renaissance dam.Have you ever come across with the idea of accounting like budget breakdown or something? how many 6 months are there before the completion of the Dam? Let alone the progressive wealth creation trend of Economics theory is in play,look at the magic being done by the Tax reform.Don't be naive like losers.Just celebrate the victory.
Ethiopia Lezelealem Tinur!
Renaissance is being a reality in Ethiopia in new millenniume in every sector.Simply observe with open mind not like losers do.
Asseb the shallow mine,you seem to be at a loss when saying the financing of the renaissance dam.Have you ever come across with the idea of accounting like budget breakdown or something? how many 6 months are there before the completion of the Dam? Let alone the progressive wealth creation trend of Economics theory is in play,look at the magic being done by the Tax reform.Don't be naive like losers.Just celebrate the victory.
Ethiopia Lezelealem Tinur!
09/14/11 @ 02:11
Comment from: ameneshewa [Visitor]
we have to appreciate what EPRDF done and we should move to the next step of building the DAM and more and more at least the next generation get the prosper and strong Ethiopia LONG LIVE ETHIOPIA!!!!!!!!!!!!
09/14/11 @ 02:43
Comment from: RAS DAGNEW [Visitor]
WHAT A HAPPY NEW YEAR???? NEVER BEEN BETTER. YEEEHAAAAAA!!!!!! THIS IS ONE STEEP FORWORD TO TAKE OVER EGYPT AND THE NILE
09/14/11 @ 04:45
Comment from: Ras Ali [Visitor]
Good news after good news. The Tultula watches and insultes rather than be a man and participate in the economy building. what can I say, Guroweshebaye
09/14/11 @ 07:42
Comment from: Tefera [Visitor]
you love them or hate them one thing you have to admire about meles/tplf/eprdf is they do things their detractors and some times even supporters say they can't. many say ethiopia will be gone in 10 years but ethiopia is not only there but she is stronger than she was when these people made this prediction. you can mention the ring road, bole airport, gotera exchange, gibe 3 and other mega projects where many thought it was just a gimmic by meles to buy time, which turned out to be not true. maybe that is why they are still in power after 20 years. not bad for ethiopia.
09/14/11 @ 09:13
Comment from: chala [Visitor]
@Aseb(visitor)
I am wondering when I read from those extreme Diaspora about saying buying bond is not a good investment.
When the buy certificate from birhanu for $500 to make war (by the way that never happen). The Money spent on DC and Vegas 5 star hotels. Are trying to tell us buying bond is not profitable.
Those people who buy bonds are not looking for profit they are doing it by loosing money helping there country. Unlike you dreaming by paying $500 to birhanu and some one to die for you and you want to from dc as a hero.
I am wondering when I read from those extreme Diaspora about saying buying bond is not a good investment.
When the buy certificate from birhanu for $500 to make war (by the way that never happen). The Money spent on DC and Vegas 5 star hotels. Are trying to tell us buying bond is not profitable.
Those people who buy bonds are not looking for profit they are doing it by loosing money helping there country. Unlike you dreaming by paying $500 to birhanu and some one to die for you and you want to from dc as a hero.
09/14/11 @ 10:09
Comment from: Gashaw [Visitor]
Aseb - KKKKKKKKK - gedelkegn eko.
Teqatelk, adel? KKKK
Adio mathimatics - When I get 5% on my dollar I'm actually losing money - eh? - awaqi neh ebakh KKK.
In today's economy there is no other place one can get close to this rate of interest. The average interest rate (on saving accounts) in North America (where I reside) is around 1%. For your surprise, many of us in the diaspora are buying the bond. BTW, our real profit comes from the growth and transformation of our beloved country, Ethiopia. Aseb, yihen 'yeTej bet hisabhn' lezaw leTej bet aqoyew - Eshi?
Teqatelk, adel? KKKK
Adio mathimatics - When I get 5% on my dollar I'm actually losing money - eh? - awaqi neh ebakh KKK.
In today's economy there is no other place one can get close to this rate of interest. The average interest rate (on saving accounts) in North America (where I reside) is around 1%. For your surprise, many of us in the diaspora are buying the bond. BTW, our real profit comes from the growth and transformation of our beloved country, Ethiopia. Aseb, yihen 'yeTej bet hisabhn' lezaw leTej bet aqoyew - Eshi?
09/14/11 @ 10:18
Comment from: C'moi senait [Visitor]
A silver award
A gold award
A platin award
When it comes to the Bin Ladin constraction family member that Arab Alemudii who the last 20 years loted and still looting ethiopian GOLD,PLATIN and others resources with the help of weyannes looters has bought $100million bond which by the way makes him the owner of the Abay dam which i mistakenly bought. If i knew that this mugot is in it i sure boycote and send him to JEDDA with his family never to come back again.
Now, let us make sure this arab would not sabbotage this plan.
A gold award
A platin award
When it comes to the Bin Ladin constraction family member that Arab Alemudii who the last 20 years loted and still looting ethiopian GOLD,PLATIN and others resources with the help of weyannes looters has bought $100million bond which by the way makes him the owner of the Abay dam which i mistakenly bought. If i knew that this mugot is in it i sure boycote and send him to JEDDA with his family never to come back again.
Now, let us make sure this arab would not sabbotage this plan.
09/14/11 @ 11:20
Comment from: Bulga [Visitor]
Wow YE HABESHA LEJOCH>>AHUN YEMENESEBESEBEBET ZEMEN EYEDERESE MESELEGN. LETELATOCHACHEN KIFTET MESTET YELEBENEM. YEPOLITICA LEYUNETACHIN YIKETEL, GEN SLE HAGERACHIN LEMAT DEMO HULEAM BE ANDENET MESERAT ALEBEN.
Purchasing bond is not for your benefit, it is for the benefit of milions of people in your mother land. and nothing gives you a mental satisfaction than seeing a dam being built by your own penny!!! And it is the right time to be proud of being Ethiopian
GO HEAD!!
Purchasing bond is not for your benefit, it is for the benefit of milions of people in your mother land. and nothing gives you a mental satisfaction than seeing a dam being built by your own penny!!! And it is the right time to be proud of being Ethiopian
GO HEAD!!
09/14/11 @ 13:10
Comment from: Zafu [Visitor]
They managed to squeeze less than 10% of the amount required while the hype was still high. It is evident that they will never be able to raise the remaining fund even in 10 years unless they start to systematically confiscate people income. The prospect of this project being completed one day look gloomier than ever before.
Anyway Meles never really meant to build that dam to start with. Everybody knows this is a gimmick to weather away the spread of the Arab revolution.
Anyway Meles never really meant to build that dam to start with. Everybody knows this is a gimmick to weather away the spread of the Arab revolution.
09/14/11 @ 13:11
Comment from: temam [Visitor]
Aseb! What a comment! I doubt it you are Ethiopian. Listen! Even if I am not an EPRDF fan, I already bought it for $1000 Dollar. It is not about EPRDF, it is about my people. I don't care even if I don't get profit. You and the likes are shouting and crying and thinking for Ethiopian people by doing nothing and to hold any development unless EPRDF is removed from power. That is very foolish. Listen, you guys want EPRDF to sit and doing nothing till the perfect democratic government comes. Do you guys think that is the best choice for our poor people and the country?what if EPRDF didn't do nothing for the last 20 years? Is your comment will be the same or different? To me this government did a very good job when it comes to development. They are very aggressive. Their problem is they do not share power which they should to make the development more easier and very effective.
09/14/11 @ 14:02
Comment from: Visitor [Visitor]
Cowards are afraid of Grand Millenium, Abu Dhabi. The bribers are right here "Likiskis" around the State Department and the Library of Congress. 14th Street Kufale'? Sin and sinners' paradise. They always lied to themselvewe were found with less than 15,000 seaters everytime. Grand! Ethiopia and Ethiopians must be aware of the prostitution/Gamble ring which is very similar to Vegas of unknown origin. They starangle for money and resist avccusation because they are prostitutes and crazy rich satan doers. One of them is a man who makes himself suicidal when he wants to deceive. He has that stuff though, despite the prostituion and/or prostitute brain he has.
You stink!
You stink!
09/14/11 @ 14:44
Comment from: TEDDY [Visitor]
350 Million $ soon into Azeb Mesfin and Tigre Mafiosis pockets .Certainly not a "Single Penny" to the Fake TPLF DAM .Ahya instead of talking about Prof Al ,why don't you tell How much does your Leba Master promise you to steal fool diaspora peoples .
09/14/11 @ 14:57
Comment from: Eritrean killer [Visitor]
Aseb,
i live in Los Angeles and i am considered diaspora and bought $20,000 bond. so no diaspora is buying bond is a lie. you just shut the f up and pay your 2% slavery tax to isayas you stinking eritrea. you people stink and need to be eliminated.
i live in Los Angeles and i am considered diaspora and bought $20,000 bond. so no diaspora is buying bond is a lie. you just shut the f up and pay your 2% slavery tax to isayas you stinking eritrea. you people stink and need to be eliminated.
09/14/11 @ 15:39
Comment from: Mesfin B [Visitor]
The truth behind the 350 Mil dollar is that Meles will run away with that money, nothing else.
The meles shifta cirle is manufactuirng one trick after another.
BTW the cyber flies will throw party this friday night HaHaHa!!!!
People's Government Now.
The meles shifta cirle is manufactuirng one trick after another.
BTW the cyber flies will throw party this friday night HaHaHa!!!!
People's Government Now.
09/14/11 @ 15:45
Comment from: afarman [Visitor]
wether you like it or not, our country is moving forward, friends of Ethiopia and posetive minded ethiopians have decided to play their part in the construction of the dam.
Those of you who are not happy about the project can keep on crying for another 20 years.
The EPRDF led government will continue to change and transform our country, gradually ethiopia will become middle income country.
Thanks to all who bought bonds for the construction of the dam, anti EPRDF forces will neither halt nor distract us from building our dam
Thanks again
Those of you who are not happy about the project can keep on crying for another 20 years.
The EPRDF led government will continue to change and transform our country, gradually ethiopia will become middle income country.
Thanks to all who bought bonds for the construction of the dam, anti EPRDF forces will neither halt nor distract us from building our dam
Thanks again
09/14/11 @ 16:37
Comment from: AZEB [Visitor]
Dear Gashaw and Chala:
I miss spoke, inflation in Ethiopia even worse than I taught. To make things worse for you. Inflation is now 40.6%. You are losing 35 birr on 100 birr or if you are investing in dollar ( $35 on $100). You are lending the government of Ethiopia let say $100 and get back $65, unless you are really stupid or fooling every on Nazret.com you would not buy this Bond for the Mega Dam or buy tanks etc. It is does not add up. This tells you it is not a well taught policy by the government of Ethiopia. That means let alone you are getting a return on your investment you will not even get you principle back. Inflation baby. Your Woyena cousins are printing money. So if you have money to burn go ahead. But please don’t insult our intelligence.
ADDIS ABABA, Sept 13 (Reuters) - Ethiopia's year-on-year inflation jumped to 40.6 percent in August from 39.2 percent a month before as food prices rose, especially for cereals, the statistics office said on Tuesday.
By the way if you have read Growth and Transformation plan. There is no mention of the Grand Dam. Got it!!! No plan it just Meles was high on Khat and came up with this pyramid scheme.
http://www.ethiopians.com/Ethiopia_GTP_2015.pdf
I miss spoke, inflation in Ethiopia even worse than I taught. To make things worse for you. Inflation is now 40.6%. You are losing 35 birr on 100 birr or if you are investing in dollar ( $35 on $100). You are lending the government of Ethiopia let say $100 and get back $65, unless you are really stupid or fooling every on Nazret.com you would not buy this Bond for the Mega Dam or buy tanks etc. It is does not add up. This tells you it is not a well taught policy by the government of Ethiopia. That means let alone you are getting a return on your investment you will not even get you principle back. Inflation baby. Your Woyena cousins are printing money. So if you have money to burn go ahead. But please don’t insult our intelligence.
ADDIS ABABA, Sept 13 (Reuters) - Ethiopia's year-on-year inflation jumped to 40.6 percent in August from 39.2 percent a month before as food prices rose, especially for cereals, the statistics office said on Tuesday.
By the way if you have read Growth and Transformation plan. There is no mention of the Grand Dam. Got it!!! No plan it just Meles was high on Khat and came up with this pyramid scheme.
http://www.ethiopians.com/Ethiopia_GTP_2015.pdf
09/14/11 @ 17:27
Comment from: Gashe mamo [Visitor]
My frend cadres
All those talks about building a dam has a secret agenda attached to it. We may have a different perspective on When to build it....... Where to build it ..... For what purpose to build it....etc etc Otherwise we all agree to building the dam.
Your Leba master comes at this point and put you to the task of the propaganda so that money can be collected without delay.
Our doubts and reservation are on your leba master who is surrounded by people with anti Ethiopian sentiment, no national feeling and corrupt. How can a devil talk about Gospel unless for mischief.
By the way did that famous lady hear there is 350mil $ ?
09/14/11 @ 18:14
Comment from: john john [Visitor]
That's only for the last six month more money to come soon when it come to this great project "the power of Ethiopia".
09/14/11 @ 20:51
Comment from: Zafu [Visitor]
I can understand people inside Ethiopia who were coerced to buy these dummy bonds. But it defies logic how some people in the diaspora decided to invest in this sham scheme. Do they sincerely think they will make money? Do they really believe that an unelected regime with no culture of accountability will give them back their money + 5% interest (in US dollar please!) one day? Really? I never came across such gullible imbeciles yet but I don't despair because obviously they do exist. Look at this comment section for proof.
09/14/11 @ 21:41
Comment from: Selam [Visitor]
I have small comments for those of you who wants to through your money like that to organized unaccounted robbers. you just believed your dream. Be prepared for same reality replay when you weak up baby. Try to use your mind and do something good and really for that people if you really in to it.
09/14/11 @ 22:16
Comment from: fikre [Visitor]
The dam will cost around 7 billion dollars. Now after forcing people in to buying the bond, what the government got is only a fraction of what it is needed. No wonder that IMF called this type of economics "unsustainable".
You can not force the business and ordinary people to pay for government projects every year. It won't happen that way. This kind of "YE'NAT AGER TIGRI" economics will lead you nowhere.
And what happened to the whole project called "transformation" which includes thousands of railways, economic growth of 15% per year, making food aid history etc. How you are going to finance these projects? Again, just by forcing people to buy bonds? kkkkkkkk
What Meles is doing is that he is reducing the grand "transformation" plan to just one project namely the Abay dam so that no one asks him about the "transformation" thing after 4 years.
My advise is that Meles should step down because he just failed to manage the economy. Simple fact! We need to reestablish our economy on well known seitific facts and make it free from state controlled communist command system. As long us we are not fixing the economy, an economy based on "YENAT AGER TIRI" will not bring us anywhere.
You can not force the business and ordinary people to pay for government projects every year. It won't happen that way. This kind of "YE'NAT AGER TIGRI" economics will lead you nowhere.
And what happened to the whole project called "transformation" which includes thousands of railways, economic growth of 15% per year, making food aid history etc. How you are going to finance these projects? Again, just by forcing people to buy bonds? kkkkkkkk
What Meles is doing is that he is reducing the grand "transformation" plan to just one project namely the Abay dam so that no one asks him about the "transformation" thing after 4 years.
My advise is that Meles should step down because he just failed to manage the economy. Simple fact! We need to reestablish our economy on well known seitific facts and make it free from state controlled communist command system. As long us we are not fixing the economy, an economy based on "YENAT AGER TIRI" will not bring us anywhere.
09/15/11 @ 03:45
Comment from: chala [Visitor]
Asab,
You don't get it at all.
Can you compare what extrimist diaspra doing and what the rest of Ethiopian doing.
Ya we are loosing 40% of our money and by buying bond but at last we all be happy for our contribution changing the country.
But look at your self your $500 ciritficate from G7 how much is you are getting out of it. loosing the whole money.
So are you trying to tell us about good investement. go and teach your freand's who there money is spend on America's big hotels to entertain the likes of Birhanu.
You don't get it at all.
Can you compare what extrimist diaspra doing and what the rest of Ethiopian doing.
Ya we are loosing 40% of our money and by buying bond but at last we all be happy for our contribution changing the country.
But look at your self your $500 ciritficate from G7 how much is you are getting out of it. loosing the whole money.
So are you trying to tell us about good investement. go and teach your freand's who there money is spend on America's big hotels to entertain the likes of Birhanu.
09/15/11 @ 07:00
Comment from: belete [Visitor]
AZEB
i dont usually discuss with eritreans about the well being of my country but in ur case i take exception to tell you that the people bought the bond to help the abay project not to make money. by the way i smell fear which tells me we will see the ABAY dam standing tall soon.
i dont usually discuss with eritreans about the well being of my country but in ur case i take exception to tell you that the people bought the bond to help the abay project not to make money. by the way i smell fear which tells me we will see the ABAY dam standing tall soon.
09/15/11 @ 08:59
Comment from: Dem-Melash Asmelash [Visitor]
behind this screen is Israel which is always harm to Ethiopia people for their cheap life.This dam is for the Tigria people maybe not now but in long run the term will be their.The hate the rest of EThiopia and Eritrea who help them into power.the blood of this two brothrly people on their hand they will pay dare price soon.also the Aigaforem person too.
09/15/11 @ 09:50
Comment from: TEDDY [Visitor]
Hey Afagniman(The fake afar ,Shigaram TPLF Thug)if your leba master shall build even a Dam at a dimention of a bathtub that means that a chicken has got touth!!!KEEP ON DREAMING IGNORANT KERFAFA BANDA !!!!
09/15/11 @ 12:02
Comment from: albi [Visitor]
DEMELASH,
Do you feel anger or pain, whenever there is a positive news about Ethiopia? It is a evident that you are a shabia supporter, but I do not understand why you do always come to this forum to spew hate against the country and/ or the Government. If you have guts, go to badme and fight for your eritrea. But do not sit like a little girl behind a keyboard and act like a b...h.
I am always grateful to Nazret forum for allowing us express our feelings and desire about our beloved country. Unfortunately, we have people like Demelash who is eritrean with fake Amahara name, dreams nothing but suffering to our people.
Do you feel anger or pain, whenever there is a positive news about Ethiopia? It is a evident that you are a shabia supporter, but I do not understand why you do always come to this forum to spew hate against the country and/ or the Government. If you have guts, go to badme and fight for your eritrea. But do not sit like a little girl behind a keyboard and act like a b...h.
I am always grateful to Nazret forum for allowing us express our feelings and desire about our beloved country. Unfortunately, we have people like Demelash who is eritrean with fake Amahara name, dreams nothing but suffering to our people.
09/15/11 @ 12:09
Comment from: Gashaw [Visitor]
Azeb,
Either u don't understand how it works or u think u could fool the rest of us.
When I buy a $100.00 bond it is guaranteed that I will be getting that money + the imnterest, at maturity. It is also my choise to get the funds in the currency I bought the bond with, or in Birr. There is no other way around it.
Either u don't understand how it works or u think u could fool the rest of us.
When I buy a $100.00 bond it is guaranteed that I will be getting that money + the imnterest, at maturity. It is also my choise to get the funds in the currency I bought the bond with, or in Birr. There is no other way around it.
09/15/11 @ 12:10
Comment from: Azeb [Visitor]
Dear Gashew.
Please read o n the concept of Present Value, a $1 today is worth more than $1 year from now. In present Ethiopia economic condition, $ 1 a year from is worth only 0.60 cent, if consider inflation is 40%. That is why in countries like US, they bond called TIPs.
Treasury Inflation-Protected Securities (TIPS)
Treasury Inflation-Protected Securities, or TIPS, provide protection against inflation. The principal of a TIPS increases with inflation and decreases with deflation, as measured by the Consumer Price Index. When a TIPS matures, you are paid the adjusted principal or original principal, whichever is greater.
I am not confusion no once. This bond story is nonsense, why don’t you purchase the bond and we will talk a year from now. If you get a good return on your investmetn. When there is inflation you rather spend your money now, because if you wait longer your purchasing power will diminishes.
Please read o n the concept of Present Value, a $1 today is worth more than $1 year from now. In present Ethiopia economic condition, $ 1 a year from is worth only 0.60 cent, if consider inflation is 40%. That is why in countries like US, they bond called TIPs.
Treasury Inflation-Protected Securities (TIPS)
Treasury Inflation-Protected Securities, or TIPS, provide protection against inflation. The principal of a TIPS increases with inflation and decreases with deflation, as measured by the Consumer Price Index. When a TIPS matures, you are paid the adjusted principal or original principal, whichever is greater.
I am not confusion no once. This bond story is nonsense, why don’t you purchase the bond and we will talk a year from now. If you get a good return on your investmetn. When there is inflation you rather spend your money now, because if you wait longer your purchasing power will diminishes.
09/15/11 @ 23:40
Comment from: Tulu Proud ET [Visitor]
Taking care of people who have been dying of starvation every year for the last 20 years under EPRDF rule is more important than any useless Woyaen propaganda.
The truth on the groud in Ethiopia today is: 40% inflation, starvation, repression, imprisonment, fleeing out of Ethiopia.
No amount of empty Woyane propaganda will change the sufferings and realty on ground.
There should be a new government soon that can solve problems. No more Woyane, EPRDF or Meles.
The truth on the groud in Ethiopia today is: 40% inflation, starvation, repression, imprisonment, fleeing out of Ethiopia.
No amount of empty Woyane propaganda will change the sufferings and realty on ground.
There should be a new government soon that can solve problems. No more Woyane, EPRDF or Meles.
09/16/11 @ 14:54
Comment from: Next call [Visitor]
Ethiopia is a Nation which has excellent credit. The Country has been paying its UN dues on time save the time of Menge. Ethiopia Airlines buys billions of dollars worth of airplanes and most importantly, engines from GE, United Technology or Rolls Royce which supply the Boeing fleet with the important component. I think, if the govt were to float the bonds on the International bond markets, it will have gotten better deal considering the prevailing rate on treasury bonds is next to nothing. The 5% premium being paid on the bonds is so enticing jewish retirees in Boca who depend on fixed income and have positive regard for Ethiopia will have bought them all, if approached rightfully, ie through established discount or full service brokers like Fidelity. Significant portion of the Diaspora wont mind parting with a couple of thousand dollars worth of bonds or more if the bonds were to be held by licensed and insured brokerages. There lies the fundamental problem with the Ethiopian govt of doing business, they are scared like hell of innovative and time tested financial schemes. They wont allow a Stock exchange neither will they entertain floating their bonds on the International market. Egypt, Kenya, South Africa and every one else is doing it but the Ethiopian govt which is led by an Economist is fearing it like it is the Third Rail. It is well that the first phase of the sale of the Bonds went well and is a good beginning. I am afraid, come next year there wont be much to solicit for. While the World is awash with cheap money, Ethiopia chose to pay premium, which shows the lack of sophistication in the financial circles of the govt. Most Bonds are independently rated and their yield reflects that. I wonder what the rating of the Dam Bonds are? I will like to know wht Moodys or Standard of Poor have to say. Being the Water Tower of Africa, it should approach these agencies on whether the bonds are worth while. I bet ya, the premiums will be lower than what Greece, which have little natural resources is paying. The question is whether the Ethiopian govt should be paying such a high interest rate for those savvy Diaspora investors who chose to invest in them. As the interest rate in the Nation has no paradigm and artificially set and not reflective of real inflation in the Nation, I have to agree with some that the indigenous buyers are being screwed. While those buying dollar denominated bonds are getting sweet heart deal. For your information, some banks ( Mellon bank) have started charging depositors fees in lieu of paying them interest. I wish i could buy them bonds at a discount brokerage, i would have grabbed them right away. I have done my share of trading, and never seen wht a bond or a stock looked like for I trust my brokers who are insured and regulated unlike my bookies( tht is another topic).
09/18/11 @ 06:34
Comment from: DEMELASH [Visitor]
albi [Visitor]
i am not ERITREAN ,
MAY YOU TELL ME WHAT IS THE DIFFERENCE
BETWEEN ERITREAN AND TEGRAI ,
BOTH OF HAD BEEN AGAINST ETHIOPIA FOR LAST 150 YEARS ,
FOR ME NO MEANS OF FIGHTING YOU FACE
TO FACE BECAUSE YOU SUPPORT BY INTERNAL COMMUNITY FOR YOUR NASTY DID,
THIS YEAR NO ENOUGH RAIN IN BOTH
TIGRAI AND ERITREA,SO I WISH YOU
MORE FAMINE FINISH YOU ALL,!!!!!!!!!
i am not ERITREAN ,
MAY YOU TELL ME WHAT IS THE DIFFERENCE
BETWEEN ERITREAN AND TEGRAI ,
BOTH OF HAD BEEN AGAINST ETHIOPIA FOR LAST 150 YEARS ,
FOR ME NO MEANS OF FIGHTING YOU FACE
TO FACE BECAUSE YOU SUPPORT BY INTERNAL COMMUNITY FOR YOUR NASTY DID,
THIS YEAR NO ENOUGH RAIN IN BOTH
TIGRAI AND ERITREA,SO I WISH YOU
MORE FAMINE FINISH YOU ALL,!!!!!!!!!
09/19/11 @ 01:54
Comment from: Genet [Visitor]
albi [Visitor]
i am sure you are tigree cyber cadre ,go and lick meles ass.
for sure no any development in Ethiopia,now ,before and before that in all regime m,m h
i am sure you are tigree cyber cadre ,go and lick meles ass.
for sure no any development in Ethiopia,now ,before and before that in all regime m,m h
09/20/11 @ 02:52
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