Latest Business Alerts

Ethiopia Drafts Labor Agreement for Citizens Employed in the UAE

The Ethiopian government has drafted a new labor agreement to protect the rights of Ethiopians working in the United Arab Emirates as domestic workers.

The agreement includes minimum wage, mandatory insurance as well as ensuring the protection of elements of worker’s rights and is to be handed to the UAE embassy in Addis Ababa according to sources.

The agreement if implemented could end the ban placed on Ethiopian traveling to the UAE for work.

Add a comment Add a comment
Read more...

Ethio-Kenya Special Status Agreement Signed

The Ethiopian and Kenyan governments signed a Special Status Agreement to facilitate trade between the two neighbors.
Ethiopia is committed to enhanced trade and investment between the two countries according to Hailemariam Desalegn, Ethiopian Prime Minister speaking at the time.

Trade between the two countries should particularly focus on textiles, food complexes, agriculture, raw materials and well as value addition noted Hailemariam.

It is time for East Africa to invest in import substitution by taking steps to produce industrial goods at home he added. External investment will require infrastructural development and appropriate incentive packages for investors said Hailemariam.

Add a comment Add a comment
Read more...

Ethiopian Ministries Requests Major Businesses to Use Desired Mode of Transport

The Ethiopian Ministries of Industry and Transport requested that the Ethiopian Shipping and Logistics Enterprise and the National Bank allow 164 businesses to use desired mode of transport following challenges faced in the newly established multimodal transportation system according to sources.

The Ministry of Transport requested the National Bank of Ethiopia to exempt significant industries from the application of the multimodal system and to allow them to choose their own alternative transport according to a letter sent to the bank by Diriba Kuma, Minister of Transport.

The ministry of industry sent a similar correspondence to the CEO of the ELSE, Ahmed Tusa requesting 13 manufacturing industries to be exempt from the system.

Add a comment Add a comment
Read more...

Ethiopian Airlines Bids for Stake in Air Malawi

Ethiopian Airlines has put in a bid to acquire shares in Air Malawi in response from a recent request for expressions of interest for partial acquisition put out by the Government of Malawi.

Companies interested in the offer were to submit their proposals to the Malawi Privatization Authority had explained Patrick E. Chilambe, CEO of Air Malawi speaking at  44th General Assembly of the African Airlines Association, held in Johannesburg last week.

The government of Malawi expects to establish a consortium with the new parties acquiring a 49 percent stake while it retains a 51 percent interest.

Add a comment Add a comment
Read more...

Ethiopia Earns $39 Million from Conference Tourism

Ethiopia earned more than 39 million US dollars from conference tourism in the past financial year announced the Ministry of Culture and Tourism.

The revenue was earned from regional, continental and international conferences hosted by the country over the course of the year according to Awoke Tenaw, Director of the Public Relations Directorate of the ministry.

An estimated 49,685 participants attended conferences held in Ethiopia with most held in the capital said Awoke.

Add a comment Add a comment
Read more...