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Reuters blog archive

from Global Investing:

Frontier markets: past the high water-mark

By Julia Fioretti

Ethiopia's plans to hit the Eurobond trail once it gets a credit rating are highlighting how fast frontier debt markets are growing.

IFR data shows that sub-Saharan Africa alone issued $4.2 billion of sovereign debt in the year to September, compared to $3.6 billion in the same 2012 period. And returns on frontier market bonds have outgunned their high-yield emerging sovereign peers this year.

JPMorgan, which runs the most-used emerging debt indices of which the frontier component is called NEXGEM, says the year-to-date return on NEXGEM is around 0.7 percent - while paltry, it's well above corporate and sovereign emerging bonds.

But supply as well as demand-side headwinds lie ahead for the sector, JPM analysts reckon.

from Full Focus:

Ethiopia’s ancient salt trails

Photographer Siegfried Modola traveled to document Ethiopia’s ancient salt trade in the Danakil Depression, one of the hottest and harshest environments on earth, with an average annual temperature of 94 degrees Fahrenheit (34.4 Celsius). For centuries, merchants have traveled there with caravans of camels to collect salt from the surface of the vast desert basin. The mineral is extracted and shaped into slabs, then loaded onto the animals before being transported back across the desert so that it can be sold around the country. Read Siegfried's personal account here.

from Isaac Esipisu:

Ethiopia and Eritrea: An elusive peace on the cards?

By Aaron Maasho

Ethiopia and Eritrea are still at each others’ throats. The two neighbours fought hammer and tongs in sun-baked trenches during a two-year war over a decade ago, before a peace deal ended their World War I-style conflict in 2000. Furious veRed Sea, UNrbal battles, however, have continued to this day.

Yet, amid the blistering rhetoric and scares over a return to war, analysts say the feuding rivals are reluctant to lock horns once again. Neighbouring South Sudan and some Ethiopian politicians are working on plans to bring both sides to the negotiating table.

from Africa News blog:

Ethiopia and Eritrea: An elusive peace on the cards?

By Aaron Maasho

Ethiopia and Eritrea are still at each others’ throats. The two neighbours fought hammer and tongs in sun-baked trenches during a two-year war over a decade ago, before a peace deal ended their World War I-style conflict in 2000. Furious veRed Sea, UNrbal battles, however, have continued to this day.

Yet, amid the blistering rhetoric and scares over a return to war, analysts say the feuding rivals are reluctant to lock horns once again. Neighbouring South Sudan and some Ethiopian politicians are working on plans to bring both sides to the negotiating table.

from Africa News blog:

Is Africa Union justified in moving its summit to Ethiopia

The African Union has moved its July summit to the Ethiopian capital after Malawi blocked the attendance of Sudan's President Omar Hassan al-Bashir, who is wanted by the International Criminal Court (ICC), the bloc said

Malawi last month asked the African Union to prevent Bashir from taking part in the event, saying his visit would have "implications" for its aid-dependent economy.

from John Lloyd:

As winter begins, an African Spring heats up

By John Lloyd
The opinions expressed are his own.

The Arab Spring’s effects continue to ripple outward. As Tahrir Square fills once more, it gains new momentum. For months now, the autocrats of Africa have feared it would move south, infecting their youth in often-unemployed, restless areas.

That fear has come to the ancient civilization of Ethiopia, the second-most populous state (after Nigeria) in Africa. There, since June, the government of Prime Minister Meles Zenawi has cracked down hard on dissidents, opposition groups and, above all, journalists, imprisoning some and forcing others into exile.

from Africa News blog:

Operation Somalia: The U.S., Ethiopia and now Kenya

By Aaron Maasho

Ethiopia did it five years ago, the Americans a while back. Now Kenya has rolled tanks and troops across its arid frontier into lawless Somalia, in another campaign to stamp out a rag-tag militia of Islamist rebels that has stoked terror throughout the region with threats of strikes.

The catalyst for Nairobi's incursion was a series of kidnappings by Somali gunmen on its soil. A Frenchwoman was bundled off to Somalia from northern Kenya, while a British woman and two female aid workers from Spain, abducted from a refugee camp inside Kenya,  are also being held across the border.

from FaithWorld:

Ethiopia jails hundreds in Muslim attacks on Christians over Koran rumour

(A destroyed Protestant church in Asendabo, 300 km (200 miles) west of the capital Addis Ababa, March 16, 2011, after Muslim youths attacked Christians/Aaron Maasho )

An Ethiopian court has sentenced 558 people to jail terms ranging from six months to 25 years for attacks on Christians that displaced thousands and led 69 churches to be burned to the ground. More than 4,000 members of local Protestant denominations were forced to flee near the town of Asendabo, some 300 kilometres (186 miles) west of the capital, in March during a rare bout of religious violence.

from Africa News blog:

A ‘day of rage’ in Ethiopia?

Ethiopia’s handful of TV channels are not carrying much news lately.  Instead, broadcasters are spending most of their time covering every phase of the construction of a new mega dam along the country’s Nile waters.

From mawkish ballads to patriotic poems and documentaries, programmes are waxing eloquently about how far the impoverished African nation has come since the dreaded Communist junta was toppled two decades ago, by defying Egyptian pressure and embarking on a massive project from its own coffers.

from Africa News blog:

Ethiopia/Eritrea: Another war?

Ethiopia is beating the war drums again. After a lull of more than a decade, the Horn of Africa giant is now threatening to attack its neighbour and foe Eritrea over claims it is working to destabilise the country.

When Ethiopian Prime Minister Meles Zenawi said his country would no longer take a passive stance towards Eritrea, it marked an escalation in the bitter war of words that has ensued since a devastating border spat ended in 2000.

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