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Ethiopia: CPDE Earned 81M Birr Net Profit from Export of Agricultural Commodities

Coffee Plantation Development Enterprise (CPDE) said it has secured over 81 million birr net profit from export of coffee and other agricultural commodities during the concluded Ethiopian Fiscal Year. 

Speaking in a meeting held in Jimma Town, Oromia State on Monday, 26 August, 2013 to evaluate the past year's performance report and plan of action for the current fiscal year, Enterprise General Manager, Ephrem Mersihe Hazen said the the enterprises earning has exceeds the previous year by 64 million Birr. He said over 34,300 quintals coffee was exported to Belgium, Germany, USA, France, Australia, the Netherlands, Italy and South Africa during the reported period.

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Ethiopia: 13,200 Home Solar Systems Installed

The Ethiopian Ministry of Water and Energy said over 13,200 home solar systems has been installed in rural areas which are not connected to the national electric grid system over the past nine months.

Public relation and communication director with the Ministry, Bizuneh Tolcha told Ethiopian News Agency, that the installation is part of the year long project which was launched in December 2012 at a cost of 208.8 million Ethiopian birr secured from World Bank. He said the project so far has benefited more than 13,200 households across the country.

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New Strategy Drafted for Registration of Expats Housing Program

The Ethiopian Ministry of Foreign Affairs together with the Ministry of Urban Development & Construction, and  Commercial Bank of Ethiopia , are finalizing a new housing registration strategy for Ethiopian expats.

The move was following problems during the registration period which ran from 12-23 August, 2013 marked by numerous challenges, such as lack of guidelines to identify eligible expats for the housing program.

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World Bank: Ethiopia's Economy to grow 7% a Year

Ethiopia's economy is to grow 7 percent a year over the next three to five years, the World Bank forcasted. The growth is below its average of the last decade, and to push that rate higher, the government needs to change policy to encourage private investment, the Bank said.

"We still think growth could be robust - in the order of 7 percent in the medium term would not be unexpected," said Lars Christian Moller, the bank's lead economist in Ethiopia, in an interview with Reuters.

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