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Raya Brewery Sells Additional Shares to its 2nd Largest Shareholder.

,the largest individual shareholder of Raya Brewery SC, has acquired additional 70 million birr worth of shares. The value of his total share has reached 125 million Ethiopian birr. This purchase makes Dawit the second top shareholder in Raya, after BGI Ethiopia, which has 30 percent share.

The board of directors of Raya, chaired by Lieutenant General Tsadkan Gebretensae, is expected to announce the increase of the company's paid up capital from 300 million birr to 500 million birr at the fifth general assembly and fourth extraordinary meeting of the company.

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Ethiopian Standards Agency Concerned Over Non-compliance of Mandatory Standards

The Ethiopian Standards Agency expressed its concern that few of its 121 mandatory standards are observed. Last Wednesday, Legesse Gabrie, director of the Standards Preparation Directorate of the Agency, told journalists that many companies are not complying with labeling and marking requirements of the Agency. Many of them are advertising irresponsibly, disregarding both voluntary and mandatory labeling and marking  standards of the country. Add a comment Add a comment

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Ethiopia Invites East African Investors to Invest in Ethiopia

Ethiopian Prime Minister Hailemariam Desalegn invited investors in East Africa to utilize suitable investment opportunities in Ethiopia. The premier extended the invitation during a discussion held in Nairobi with investor from East African countries.

Hailemariam invited investors to engage in priority sectors of of Ethiopia such as, manufacturing, textile, leather industry and horticulture. He said both the investors and the nation would benefit from investing in those sectors. Add a comment Add a comment

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MWH Global Opned Office in Ethiopia

The Colorado-based MWH Global, an engineering, construction, and management company has  opened an office in Addis Ababa, Ethiopia, which the company said will serve as a center for its construction, engineering and administrative staff in Africa. MWH Global has been involved  in Ethiopian hydro-power projects since the 1970s.

The State owned utility company, Ethiopia Electric Power Company (EEPco) selected MWH Global as owner's engineers for the 300-MW Tekeze hydroelectric power station in 1998, and the company more recently provided similar services for the 254-MW Genale-Dawa Multipurpose Hydro-power Project.

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Winners of 9th Round Condominium Beneficiaries Announced

The Addis Ababa City Administration is set to transfer more than ten thousand condominium houses located in different parts of the city to beneficiaries.

The City Administration's Housing Development Bureau has announced the 9th round winners of the housing program on Sunday 7 April 2013. The condos cost over 2 billion Ethiopian birr. Add a comment Add a comment

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