Latest Business Alerts

POESSA Collects 800 Million Birr

The Ethiopian Private Organization’s Employee Social Security Agency has collected more than 800 million birr in the first year that it had been in operation according to the Ethiopian Revenue and Custom Authority.

The authority has been able to collect over 800 million birr in pension contributions from private organizations according to Melaku Fenta, Director General of ERCA in a statement to the press in regards the performance of the authority.

Private companies have been handling payment of pension contributions through the revenue collecting offices.

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Addis Ababa to Handover Kebele Owned Businesses

The city administration of Addis Ababa is preparing to transfer kebele administered shops and recreational centers to consumer associations in the next six months.

The City Council issued a regulation to enact the transfer of the businesses in July. The establishments to be transferred too consumer associations have a collective capital of 104 million birr and fixed assets of 35.45 million birr and more than 64.85 million birr in cash.

The transfer are expected to resolve challenges allowing the establishments to be managed as publicly responsible, accountable and transparent institutions said Mulugeta Mengistu, Head of the Cooperatives Development Office.

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Ethiopian Airlines Registers Record Service Entry

Ethiopian Airlines embarked on the first inaugural passenger service flight to Addis Ababa within 24 hours of receiving the first Boeing 787 Dreamliner according to Mxi Technologies, a leading aviation maintenance management software.

Ethiopia is committed to the vision of modernizing its fleet and maintenance and the first 787 flight represents this commitment according to Mr. Mesfin Tasew, Chief Operation Officer of Ethiopian Airlines.

Maintenix has allowed the airline to support its historic entry into service with confidence to maintain the next generation aircraft through automatic real-time confirmation of airworthiness in line with OEM guidelines and the maintenance plans of the airline in receiving the airline and embarking on the first flight he said.

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Ethiopian Prime Minister Meles Zenawi Dies

Meles Zenawi, Prime Minister of the Federal Democratic Republic of Ethiopia died on the night of August 20th from a sudden infection according to a statement released by the Council of Ministers. He was 57 years old.

Prime Minister Meles Zenawi had been undergoing treatment for a protracted illness abroad for some time and has not been seen in public in the last month.

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Ethiopia Modernizing Meteorological Information System

Ethiopia is to put in place a more modern meteorological information system in the new budget year as part of efforts to support the social and economic development of the country according to the Ethiopian Meteorological Agency.

The agency is working to enhance the quality of the climatology information that it offers from the 93% it currently stands at said Fetene Teshome, Director General of the Agency.

The EMA is planning to upgrade 36 existing level four stations to level three and to install eight communication radios as well as refurbishing 20 major stations and installing one station to detect pollution he said.

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