Prime minister meles zenawi has become increasingly bold and assertive in his vilification of what he describes as a bankrupt ideology that has impoverished our thinking and hindered our progress. In his address to ministers of finance and economic planning, who met early last week at the newly inaugurated conference hall of the african union commission auc , he urged fellow africans to liberate our minds from the neoliberal ideological shackles. Meles has been a lone voice in the african club of leaders in his outspoken denunciation of a neoliberal paradigm he argues wants to keep african states no more than a night watchman. Ever since he authored his doctoral dissertation in the mid 20s, titled african development: dead ends amp new beginnings, he has been bashing what he cites as an ideology imposed from the west that weakens the role states in africa ought to play. We need an effective state that intervenes effectively but selectively wherever there is a market failure that hinders or slows down our growth, meles told close to 600 delegates attending a meeting jointly organised by the au and uneca, on monday, march 26, 2012.

The ideology neoliberalism , however, insists that infrastructure has to be built by the private sector and the state should limit itself to making these investments lucrative and largely risk free for the private sector. Interestingly, one of the delegates last week was ngozi okonjo iweala, 58, pictured above , now minister of finance of nigeria. Prior to her move back to nigeria, she had served the world bank as a managing director for four years, beginning 2007, while she is one of the three candidates hopeful to preside over the world bank group.

Alongside the imf, the world bank is a multilateral lending agency, largely known for its keenness in promoting the liberal economic policy prescription meles described last week as bedtime stories. The page you are looking for might have been removed, had its name changed, or is temporarily unavailable. Make sure that the web site address displayed in the address bar of your browser is spelled and formatted correctly. If you reached this page by clicking a link, contact the web site administrator to alert them that the link is incorrectly formatted. One of the first multinationals in ethiopia, shell company read sea limited and incorporated in london, started operations in the country in 1929. Until last year, the petroleum company opened 280 filling stations across the country and has installed three depots. However, in 2006, shell has sold out 63 of its petroleum stations as well as two depots for kenya’s kobil, which recently entered in the ethiopian market.

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After 75 years of constant possession over liquefied petroleum gas lpg , shell had sold lpg for ghion industrial group in 2004. According to information obtained from ministry of trade and industry moti , at the end of 2005 shell was dominating at least 54% of the oil market in ethiopia, though its current share of the market has since fallen below 30%. Shell is vying for the country’s oil products market with new and old rivals such as total ethiopia, national oil company noc , yetebaberut beherawi petroleum ybp as well as the newcomer, kobil. For almost eight decades, the oil market in ethiopia was dominated by four of these petroleum companies: shell, total, mobil and agip. These four companies has exclusive rights to the market owing to policies by successive governments to prevent new entrants into the sector. however, when such policies came to an end in 2003, and the door was opened to more competition, agip was the first of the four formerly dominate companies to pack up its offices in ethiopia. Agip sold its properties to shell ethiopia, followed by mobil, which sold out all of its assets to total and left ethiopia about two years ago.

now shell ethiopia has been identified by its parent company as one of 10 country subsidiaries to be placed under review for possible actions that may include liquidating the assets, said the union’s complaint. By the same token, the company has taken it first step toward closing down, the allegations brought by the labour union stated. By having replaced the previous scheme with the new package, shell ethiopia would save about 5 million br, the labour union argues. According to the union, the move by the company would hurt their morale above all, it compromises the welfare of the employees. Having stated this fact, the labour union has been trying in vain to convince shell’s local and international managers.

In the case that shell sells its properties in ethiopia, the labour union is asking for each employee to be given the option to either hold on to his or her position under the new ownership, or to take the compensation offered by the previous scheme. since shell ethiopia is out to compromise the welfare of members of the labour union who sued this company, let the court ensure the previous scheme is reinstated, the labour union said in the court document. addis fortune also known as fortune is a private and independent newspaper based in addis ababa.

1 it is reportedly the largest english weekly in the country its circulation is often quoted at a meager 7,500 copies per week in a country with a population 80 million however, its rival, capital, which is also based in addis ababa, recently claims to top fortune in circulation in a project launched to celebrate its 10th year anniversary. Fortune still claims to be the largest circulating paper in its category, surpassing all others in the competition by an average of 60%. 2 it is well known for its professionalism and it promotes free market with its in depth business news and analysis. While many newspapers suffered government crack down after the 2005 national election, most of its employees have survived and it remains one of the rare private papers in the country. However, it was reportedly attacked by the famous ethiopian businessman mohammed al amoudi for publishing a letter that criticized him. 3 the website often exposes corruption and other issues inside the ethiopian business community. It was the first ethiopian newspaper to reveal the breaking story of millions of dollars worth fake gold bought by the country's national bank.

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Addis ababa, ethiopia independent news amp media plc inmp , publishers and distributors of fortune. A business english weekly, appeared victorious late last week in a landmark legal battle against ayat share company, a pioneering and giant real estate developer in ethiopia. Commonly known by the paper’s name, fortune, the private media company’s latest court victory is the third case it has won during the past one and half year. The charge by the real estate company was the highest ever civil lawsuit against fortune. It was also the first multimillion birr claim against a private media company in ethiopia’s history.

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The eighth civil bench of the federal high court passed the historic judgement last friday, june 12, 2009 setting all the defendants in this count, including the private media company, and five journalists free from the alleged libellous reporting they were accused of. Ayat filed the civil suit on december 27, 2007, claiming compensation worth a little over 20.4 million br against the publisher of fortune tamrat g. Giorgis, general manager of the media company and managing editor of the paper isayas biru, former editor in chief and isayas mekuria, former deputy editor in chief, along with wudineh zenebe and feven chane, former reporters with the newspaper. Ayat alleged that the newspaper had affronted its reputation and caused it loss on its revenues, through five editions issued between april 2005 and november 2008. The stories prompted the lawsuit are with headlines, ayat at odds with home owners ayat residents facing water shortage commission arrests senior officials in alleged real estate fraud life, liberty and the land administration and is the real estate market competitive? not so much , the latter was published on the op ed notes column of the paper. The court had been investigating the validity of the assertions made by the plaintiff that the paper distributed slanderous reports about the real estate developer.