Latest Business Alerts

ECX to Reduce Expiration Date of Warehouse Receipts for Coffee

The Ethiopia Commodities Exchange (ECX) is reduced the expiration date of warehouse receipts issued for coffee from 30 days to 20 days as of May 9, 2013.

The ECX governing body, Ethiopian Commodity Exchange Authority (ECEA) has approved the change with others relating to moisture adjustment, the amount that should be contained in a bag, and the cost of handling goods.

ECX introduced these changes following a series of studies it undertake during the current year based on transaction data from the past 18 days, according to Anteneh Assefa, CEO of the Exchange. The study revealed that 50pc of members storing coffee at ECX warehouses make a sale within eight days and 90 percent of members within 20 days.

Add a comment Add a comment

ECX Extended Bid Opening Date of its Membership Seat Tender

The Ethiopian Commodity Exchange has postponed the bid opening date for 30 membership seat tender floated exclusively for farmer's cooperatives, to May 16, 2013. The original bid opening date was set for April 31.

The reason given by Exchange is to encourage more participation by farmer's cooperatives. ECX is expecting 200 farmer's cooperatives to participate, according to Abenet Assefa, Chief Strategy Officer at the Exchange.

Add a comment Add a comment

Ministry of Culture and Tourism Finalizing New Standard for Hospitality Sector

The Ethiopian Ministry of Culture and Tourism is finalizing a new standard for the hotels, catering and tourism sector.

"we will be undertaking the pilot project on selected hotels, restaurants and lodges" said Tewodros Deribew, Tourism Services Competence Accreditation director at the Ministry. Add a comment Add a comment

Caustic Soda S.C on Privatization Tender Again

Ethiopian Privatization and Public Enterprises Supervising Agency is to re-float Caustic Soda S.C after the previous buyer MCC Imports Enterprise, withdraw its contract with the Agency.

Caustic Soda S.C was first floated with an indicative price of 14 million Birr and purchased by MCC Importer and supplier of chemicals to soap and paint manufacturing companies for 14.8 million Ethiopian birr. Add a comment Add a comment

Enterprise Posts 593 Million Birr Profit

The Ethiopian Shipping & Logistics Services Enterprise reported a profit of 593 million Ethiopian Birr, in the last nine months of the current Ethiopian Fiscal Year.

The Enterprise's total revenue stood 5.6 billion Br, about five billion Birr of its total revenue is accounted for operational expenses, including voyage costs, demurrage fees, salaries and port expenses. Add a comment Add a comment