2merkato

Ethiopia is to host the all African Leather Fair 2012 according to the Ethiopian Leather Industries Association. The fair will be held at the Millennium Hall at the end of this month.

The fair aims to promote the leather and leather products sector allowing industry stakeholders to network and attract international investment to meet the national developmental goals according to Solomon Getu Chairman of the ELIA Board and Managing Director of the Crystal Tannery SC.

More than 200 domestic and international firms operating in the sector and visitors from an estimated 40 countries are expected to take part in the fair said Solomon.

Cummins Inc has announced Dawaleh Technology and Trading plc as its official and sole distributor in Ethiopia.

Cummins specializes in the design and manufacture of heavy duty filtration systems, coolant, exhaust and fuel additive technology for all diesel powered engines.

The Privatization and Public Enterprise Supervisory Agency in Ethiopia announced that it has earned a total of 762 million birr in revenue over the first two quarters of the fiscal year from the various enterprises under its administration.

The revenue raised by the agency is less than the 1 billion birr target it had set but up 230 million from the same period last year.

The revenue was raised by 53 public enterprises administered by PPESA excluding revenue for agricultural enterprises, which accounts for the deficit from the target revenue according to Wendafrash Assefa, Head of Public Relations with PPESA.

National Bank of Ethiopia received its first request for 250 grams of 18 carat of gold from Teklu Desta Jewellery.

The order for the minimum amount set by the central bank five months ago by the regulation compelling goldsmiths to purchase gold bars exclusively from it as of November of last year.

Teklu Desta has become the first Jeweler to purchase the gold from the central bank with other goldsmiths discouraged by the higher rates set by the bank.