Latest Business Alerts

PPESA Approved Blue Nile's Acquisition of Awash Winery S.C.

The Ethiopian Privatization and Public Enterprises Supervising Agency has approved the transfer of the state-owned Awash Winery S.C. to Blue Nile Investment PLC for 459.9 million birr offer.

However, Blue Nile is expected to make payment within a short period of time. Since more than half of Blue Niles shares is owned by a foreign company which as no prior business activity in Ethiopia, the Ethiopian Privatization and Public Enterprises Supervising Agency required Blue Nile to make advance cash payment in foreign currency amount equaling 8-miles shares in Blue Nile. Add a comment Add a comment

EPPCo. Completing Gilgel Gibe III Transmission Lines

The state utility company, Ethiopian Electric Power Corporation will complete erection of the 400kv high-voltage electric transmission line which will connect the the Gilgel Gibe III hydro power plant with the national grid in the coming month.

The project is jointly financed by the Ethiopian Government and the Chinese Export-Import Bank. Construction of the Gilgel Gibe III hydro-power station was started in 2006 with installed capacity of 1,870 MW energy.

The construction of the transmission lines is being carried out in two lots. Lot one is for the construction of a 293 Km long transmission line from Wolayta Sodo to Sebeta. The second lot, a 50 Km and 51 Km double circuit line from Gilgel Gibe III station to Wolayta Sodo distribution station. Add a comment Add a comment

City Hand Over Houses to Beneficiaries

The Addis Ababa Housing Construction Project (AAHCP) has completed the construction of more than twenty thousand condominium housing units in different parts of the City.The city administration has already transfered keys to beneficiaries of the project.

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Ethiopia and Saudi Arabia Concluded Double Taxation Avoidance Agreement

Ethiopia signed two loan agreements worth USD 25 million with the Arab Bank for Economic Development in Africa (BADEA) and the Saudi Fund for Development (SFD) this past Thursday. Ethiopia and Saudi Arabia has also signed double taxation avoidance agreement with the Kingdom of Saudi Arabia on the same date. Add a comment Add a comment

WFP Buying Maize from Ethiopian Farmer Cooperatives

Ethiopian farmers cooperatives are supplying maize to the United Nations World Food Program, according to the announcement made by the WFP. The amount to be supplied is enough to support more than a million people for a month.

World Food Program has concluded futures contract with 16 farmers cooperative unions for the purchase of over 28,000 metric ton of maize the previous year. The first deliveries on those contracts began arriving at WFP warehouses last week. The maize supplied will be used for the World Food Program emergency relief operations.

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