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Showing posts from June 21, 2012

Ethiopia exchange, government to sell food aid to fund electricity projects

Note from Wondwossen: Ethiopia's government's lack of decency has reached a new low, thanks to the rulers' addiction to food aid. The government and ECX have now shamelessly resorted to monetizing the food aid that was meant for the destitute and hunger-stricken millions of Ethiopians. The government and ECX are in discussion "to sell surplus food aid to improve the country's electricity supply." In other words, they want to snatch the food aid from the dying souls to fund electricity projects, such as the one that they call the "Grand Ethiopian Renaissance Dam" project. This is shameful, outrageous, and immoral. First, it is a hoax to state that there is surplus food aid in Ethiopia while more than 15 million people are starving and millions more are barely making ends meet. If there is demand for the food aid that the government is going to sell, then what we have there is scarcity, not surplus. On the flip side, if there is surplus, t...

Ethiopia Commodity Exchange CEO Eleni to step down on Sept. 30

By William Davison Bloomberg June 21, 2012 June 21 (Bloomberg) -- Ethiopia Commodity Exchange Chief Executive Officer Eleni Z. Gabre-Madhin will step down on Sept. 30, the ECX said. She will be replaced by Anteneh Assefa from Bank of Abyssinia, who joins on Aug. 1, the Addis Ababa-based exchange said in a statement today. --- To contact the reporter on this story: William Davison in Addis Ababa at +44-20-7330-7500 or wdavison3@bloomberg.net To contact the editor responsible for this story: Hilton Shone at +27-11-286-1928 or hshone@bloomberg.net