Latest Business Alerts

Dry Ports Services in Ethiopia Earns 46.1 Mln Birr

Dry Ports Services Enterprise made a 46.1 million birr net profit last fiscal year from dry ports activities like loading and unloading cargoes, and temporary storage for import and export cargoes.

The income was obtained from dry port services to 19,125 containers and 526 vehicles. The enterprise had planned to make 93.10 million birr in gross profit in the last fiscal year but earned an actual profit of 91 million birr.

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Endowment Fund in Ethiopia to Conduct Feasibility Study for Steel Mill

The Endowment Fund for Rehabilitation of Tigray (EFFORT) said that 18 local and international companies had responded to the tender for feasibility study to erect a steel mill in Shire, Tigray Regional State.

The companies which expressed interest in conducting feasibility study include TATA, the Indian consultancy service, and Mastell, a Chinse consultant.

The bids from the 18 companies were scheduled to be technically and financially evaluated yesterday.

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Ethiopia to Join Largest Airline Alliance

The Ethiopian Airlines is going to be fully integrated into Star Alliance, the largest airline alliance, in October. The process took over a year and 6.9 million dollars which has not been paid in full yet.

The airlines had to fulfil 83 criteria, including IT compliance, to earn full membership of the alliance.
Ethiopian is the third African airline to join the Star Alliance after South African Air (SAA) and Egypt Air.

Ethiopian uses SABER booking system, which needed to be connected with the central system of the Star Alliance headquarters, and with those of the 29 member carriers.

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Ethiopian Bank Approves 1.5bln birr Loan to Habesha Cement

The Development Bank of Ethiopia (DBE) approved last Tuesday a 1.52 billion birr loan to Habesha Cement.

The company had sought from the bank 70 percent of the fund it need for setting up a cement factory in the country.

The bank is currently drafting the loan agreement and it is expected that the parties will sign the deal next week.

The annual production capacity of Habesha’s first factory is projected to be 1.4 million tonnes of cement a year, according to Mesfin Abi, CEO of the company.

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Ethiopians in the US Consider Investing Here

Areas of interest include real estate, mining, manufacturing, healthcare and agro-industry.

Ethiopians living in the United States are going to discuss the existing investment opportunities in Ethiopia at a conference to be held in Washington DC.

The conference, under the theme "Collaborative Investing by the Diaspora", is scheduled to take place on Saturday October 8 at the Washington Marriott Wardman Park Hotel.  

The conference is a half a day U.S. private-sector-led initiative. The organisers expect about 300 people to attend the meeting.

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