Ethiopian Airlines Signs Agreement with Djibouti Airport for Sea

Ethiopian Airlines, the fastest growing airline in Africa, signed a Memorandum of Understanding (MoU) with Djibouti International Airport for the provision of sea-air and air-sea cargo transport of goods in East Africa.

The MoU was signed at Ethiopian Airlines headquarters on Monday, 22 April 2013, between Mr. Tewolde Gebremariam, CEO of Ethiopian, and Mr. Mohamed Yacoub Mahamoud, General Manager of Djibouti International Airport.

"As the largest air cargo service provider in Africa, we are a serious player in moving trade, commerce and investment, which are the engines of fast economic development in the continent. The cooperation framework with our longtime partner, Djibouti airport, will enable us to offer new menu of choice, sea-air multimodal transport services, to our shippers, forwarders, and logistics providers in Africa", said Tewolde, CEO of Ethiopian.

Ethiopian Airlines is the biggest cargo operator in Africa flying to 25 destinatio…

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Karuturi Global to Borrow from Sovereign Fund for its Ethiopian Investment

Indian based Karuturi Global Ltd., the world's largest rose grower, sold its firs produce from its plantation in Ethiopia. The company is also going to solicit funding from sovereign wealth fund for further investment in East Africa. Karuturi has produced more that 20,000 metric tons of corn in the last quarter of 2012 that sold for USD 6.5 million in Ethiopia, Sai Ramakrishna Karuturi, Managing Director told Bloomberg. The harvest from its plantation in western Ethiopia, showed the project was “not a disaster” after floods destroyed a 60,000- ton corn crop in September 2011, he said.

The company has already secure loan from unidentified fund and the money will be advanced by the end of April and invested in Ethiopian projects as well as Kenyan flower farms, according to Karuturi.

The project to grow and process crops including cereals, sugar, palm oil and vegetables has “good support” from senior Ethiopian officials, Karuturi said. The leasing of an …

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