Latest Business Alerts

Adam Smith to Study Ethiopian Tax Revenue Potential

UK consultants, Adam Smith International Ltd is to study Ethiopia’s potential to raise revenue from tax under contract to the Ethiopian Revenues and Custom’s Authority. The Consultant will conduct the study for 10.7 million birr according to the contract signed between the two parties last week.

ERCA’s interest to engage a company to evaluate the potential tax revenue in the current economy initially attracted 16 companies. The final shortlist consisted of six companies: included McKinsey & Co, KPMG of Netherlands, DFC &VNG partners, the local office of Ernst & Young, the India office of Deloitte Touche Tohmatsu Ltd as well as Adam Smith.

Three companies, Deloite, Mckinsey and Adam Smith passed the technical evaluations and Adam Smith was awarded the contract because its 10.7 million birr proposal was significantly lower than the 26.5 million birr offered by Deloite and the 38 million birr offered by Mckinsey.

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EIPO to Re-Register Trademarks

The Ethiopian Intellectual Property Office is finalizing preparations to conduct the re-registration of trademarks. The re-registration will be conducted on the basis of the proclamation for the registration of trademarks according to Berhanu Adelo, Director General for the EIPO.

There are currently 14 thousand registered trademarks in Ethiopia with 7500 being international trademarks said Berhanu.

In related news Ethiopia has managed to trademark its fine coffee brands ‘Harar’, ‘Yirgachefee’ and ‘Sidama’ internationally he noted.

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Ethiopia to Launch Cultural Center in Delhi

The Ethiopian Embassy in India has announced that it is to launch a Cultural and Tourism Center to introduce African culture to Indians in November 2012. It is expected that center is to be the first of its kind in India.

The center is to be an indispensable element to promoting African values and Ethiopian culture in particular according to Metasebia Tadesse, Counselor for Political, Public Relations, Public Diplomacy.

The cultural center built to promote Ethiopian culture will also be used to organize various African get together including for scholars and diplomatic delegates congregating for various purposes he said.

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Ethiopian Airlines Postpones Launch of Flight to Sao Paulo

Ethiopian Airlines announced that it has postponed the launch of flight to Sao Paulo in Brazil because of an inconvenient time slot given the airlines. The airline announced that it will expects to launch flights to Sao Paulo in March instead of the originally intended December.

Ethiopian had anticipated launching thrice weekly flight to the Brazilian city through its hub in Lome, Togo.

The slot allotted to the airline by the airport administration authority of Sao Paulo is inconvenient and requires some additional discussion with Brazilian authorities said Tewolde Gebremariam, Chief Executive of the Airline.

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Ethiopian PTA President Wins Award

Admassu Tadesse, President and Chief Executive of the Eastern and Southern African Trade and Development Bank has won the 2012, ‘Up and Coming Future Leader of the Year Award’ from Investor Africa.

Admassu was awarded in the category of investment professional under 45 years of age demonstrating potential for leadership.

The Award ceremony was held at the Courtyard Marriot Hotel in Tokyo Japan in an event which took place during the course of the World Bank/International Monetary Fund annual meeting for 2012.

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