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The Ethiopian Ministry of Urban Development & Construction (MoUDC) is to launch a new housing program for individuals working in wholly or partially owned government corporations, Fortune reported.

The latest housing program is on top of the eight housing programs already underway. The program is scheduled to be launched on September 26, 2013.

The Ethiopian government has established a new agency tasked with regulation of large-scale agricultural investments, Capital reported. The Agriculture Investment Agency (AIA) was set up to regulate large-scale and mechanized agricultural investments on lands granted by the Ministry of Agriculture.

Abera Mulat, an agriculture expert at the Ministry of Agriculture, has been appointed as the director of the Agriculture Investment Agency.

Horizon Plantations, subsidiary of MIDROC owned by the Ethio-Saudi billionaire Mohammed Al-Amoudi, has acquired full ownership of Bebeka Coffee Plantation S.C and Horizon Addis Tyre after it bought the Ethiopian government’s shares in both enterprises for 667.2 million Ethiopian birr.

The Ethiopian government’s share in Bebeka was 36 percent, which is sold for 207.8 million birr and  the governments share in Horizon Addis was 31 percent.

Albwardy Investments, a Dubai-based holding company has struck a US$25 million deal with M.A Kharafi & Sons PLC. for the acquisition two hotels under construction. The partially constructed 7 and 6 floor hotels are located at the junction of Africa Avenue and Jomo Kenyatta Street, at Meskel Square.

The original plan of M.A Kharafi & Sons PLC was to build one three-star hotel, named Ibis, on the side of the Jomo Kenyata Street and another four-star, named Novotel, along Africa Avenue.