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Author: addisstandard

Bostex PLC, the mother company of the global brand footwear soleRebels, won a decisive legal battle against Oliberté Limited, a Canadian footwear company with a branch in Ethiopia. Its victory should serve Bostex PLC as a gentle reminder that the fight for intellectual property and copyright in its birth place is not won, yet, says our special contributor Alem C. 

YAOUNDÉ – For many developing countries, foreign direct investment is viewed as something very positive. International companies can bring cash, skills, technology, and high ethical standards to a host country. But others do not always regard such investors favorably: many stand accused of political meddling, polluting the environment, labor abuses, and other unscrupulous practices. This debate is particularly animated with respect to Chinese investment in Africa – a continent with a long history of political, economic, and commercial exploitation by foreign powers.

A hydro-electric potential estimated at 44,000 MW – half of Africa’s installed electricity capacity

The Board of Directors of the African Development Bank Group (AfDB) approved US $68 million in financing for the multinational Inga Site Development and Electricity Access Support Project (PASEL). The project will further the development of the Inga hydropower plant located on the banks of the Congo River with a vast hydro-electric potential estimated at 44,000 MW – half of the continent’s installed electricity capacity. The AfDB’s support, which comes in the form of a Fragile States Facility grant of US $7.7 million and an African Development Fund grant of US $60.6 million, accounts for 43% of the total project cost of US $169 million. With this approval, the support of the AfDB to the Inga project, since the inception of the mandate to lead the implementation of the NEPAD Infrastructure Action Plan, will amount to-US $90 million.