2merkato

The Ethiopian Commodity Exchange (ECX) said it transacted 2.65 million metric tons of commodities over the past five years. According to a statement posted on its website, the total sum of all commodities traded at the ECX has reached 90 billion Ethiopian birr.

The number of trading members has increased to 329 during the reported period from 100 in 2008, when it commenced operation, it said. ECX has managed to increase the number of delivery centers and settlement banks to 17 and 11 respectively. Add a comment Add a comment

Saro-Maria, a four star hotel, was inaugurated on Tuesday, 30 July, 2013. in Addis Ababa, Ethiopia. The city is seeing growing demand for hotel accommodation. Addis Ababa has only 110 hotels with fewer than 5,500 rooms. The city’s top 10 hotels currently show occupancy rates in excess of 90 percent, Capital reported.

“Clearly, this new facility has been created as a result of an increasing potential for mid-scale flag properties, after the emergence of brands like the Sheraton, Hilton, Marriot and Radisson Blu secured footholds in the market”, Saro-Maria’s general manager, Samuel Omalla told Capital. Add a comment Add a comment

Ethiopia’s annual production of cement has reached 12.12 million tons, more than double the current domestic demand, Ministry of Industry disclosed. Ethiopia’s current domestic demand for cement is estimated to be around 5.4 million tons, according to data from the Ministry.

“Due to the construction boom and country’s rapid growth we expect the annual demand for cement to grow,” Melaku Taye, public relations and communications director at MoI, told Walta Information Center. Add a comment Add a comment

Kenenisa Hotel, located on Cameroon Street around Bole Medhanialem Cathedral was inaugurated on Sunday 4 August, 2013. The eight storey hotel laying on 1,400 square meter plot of land offers 51 rooms, high speed internet, meeting hall, fitness and business center. The hotel is equipped with modern air conditioning, fire extinguisher, smoke detector and other facilities befitting a four star hotel.

The Construction of the hotel consumed 200 million Ethiopia birr.