Ethiopia just conclude one big investment forum wey dem call “Invest in Ethiopia 2026” with agreement wey reach 13.1 billion US dollars. According to Ethiopian News Agency, dis na one of di biggest investment achievement for di kontri for recent years. Di signing ceremony include major commitment for manufacturing, agriculture, energy, construction, and oda priority sectors. Ethiopian Investment Commission tok say dis agreement show strong confidence for Ethiopia economy and im long-term development prospects. Dem expect di new projects go create plenty jobs, improve foreign exchange earnings, and support technology transfer.
Dis announcement come after last year forum wey dem sign 1.6 billion dollars deal. Officials report say dose projects don fully dey work and dey contribute to national economic growth. Di forum reinforce Ethiopia position as attractive investment destination for international investors.
Meanwhile, for sports news, Ethiopian athletes dey prepare for Yangzhou Half Marathon wey go hold dis Sunday. Jemal Yimer and Ftaw Zeray dey among di top runners wey go compete for di World Athletics Platinum Label road race. Yimer na di fastest runner for di men category with personal best of 58:33, while Zeray dey lead women field with 1:05:12 personal best wey she run for Paris earlier dis month. Oda top athletes wey go compete include Alex Nzioka Matata from Kenya, Geofry Toroitich Kipchumba, and Wede Kefale from Ethiopia.
For oda news, fuel shortage dey affect many African kontris because of Middle East war. For Ethiopia, drivers dey sleep inside dia cars for long queues as petrol scarcity dey bite. Taxi driver Awoke Derese tok say im don dey queue since night time and im don lose two days business. Bakery worker Natenahel Gedamu complain say im business don stop because fuel don finish for generator and baking machines.
Prime Minister Abiy Ahmed don advise Ethiopians to use oil sparingly until di problem resolve. Ethiopia import all im petrol from Gulf kontris and rely on Djibouti port for imports. Di kontri get only 13 strategic reserve depots according to Ethiopian Petroleum Supply Enterprise.
For South Sudan, dem don start to ration electricity for capital city Juba. Electricity distributor Jedco announce say dem go cut power on rotational basis because of fuel crisis from Iran-US conflict. Electrical engineer Ereneo Mogga tok say power dey go off by 4pm and no dey come back until 4am next day, wey dey paralyze many businesses.
Mauritius don impose restrictions to reduce electricity wastage as dem face oil shortage. Energy Minister Patrick Assirvaden say dem get only 21 days of fuel stock left but dem don arrange alternative supplies from Singapore wey go arrive April 1.
Zimbabwe don announce say dem go increase ethanol content for dia petrol from 5% to 20% to cope with di crisis. Street vendor Nicole Mazarura for Harare complain say transport cost don double and prices of everything don increase since di war begin.
For Kenya, about 20% of petrol stations dey experience supply shortages. Petroleum outlets association blame panic buying and low stock levels. Vivo Energy Kenya wey distribute Shell products confirm say dem get “temporary stock-outs” at some stations. Kenya flower industry don lose over 4.2 million dollars in three weeks because of shipping problems and decline in demand for Middle East.
Uganda government don assure citizens say dem dey take measures to ensure enough fuel supply, while South Africa officials say dia fuel supply remain stable for now but prolonged conflict fit affect availability and prices for coming months.
Nigeria, as Africa second largest oil producer, don offer to pump more oil to meet global demand. Economist Dumebi Oluwole from Lagos tok say even if government and oil companies earn more revenue, ordinary people no go feel benefit immediately because transport costs go increase everywhere.
Senior researcher Timothy Walker from Institute for Security Studies tok say ports for southern and eastern Africa like Walvis Bay, Cape Town, Durban, Maputo, and Dar es Salaam fit benefit from ships wey dey avoid Red Sea and Strait of Hormuz and dey sail around Cape of Good Hope.
Do you have a news tip for NNN? Please email us at editor @ nnn.ng
