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Ascent Rift Valley Fund is a new private equity investor in East Africa. Ascent, which manages the Ascent Rift Valley Fund, announced in July 2014 its first US$50million to be invested in growth enterprises in East Africa. The fund will make investments in 10-12 companies in three east African nations: Ethiopia, Kenya and Uganda. On Thursday Jan. 22nd, Ascent announced the opening of its Addis Abeba advisory office. Following the announcement, Addis Standard interviewed Michael M. Selassie, Principal and Country Director, and Guy Brennan, Ascent Partner, on how the fund intends to operate in Ethiopia. Excerpts:

Sufian Ahmed, Ethiopia’s Finance Minister, lost his candidacy at the ongoing Annual Meeting of the Board of Governors of the African Development Bank Group (AfDB) at the Election for the Office of President of the Bank. Sufian was the second cadidate to be eliminated from  eight contenders running for the office. Samura M. W. Kamara of  Sierra Leone was eliminated first.