Latest Business Alerts

Ethiopia Energy Sector Database Launched

The Ethiopian Energy Sector Mapping and Database Project was launched with the completion of the first phase of the study and the web based database system last week. The project is a collaboration of the Energy Co-ordination Office of GIZ-ECO and the Ministry of Water and Energy.

The project required partnership with federal, state and woreda level governmental institutions as well as including a group of eight domestic senior energy consultants headed by PROCEED, a local consulting firm said Wondimu Tekle, State Minister for Water and Energy.

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Ethiopia to Enhance Apiculture

Ethiopia is working to enhance the apiculture sector according to the Ministry of Agriculture.

The ministry has put in place the regulatory framework to support the sector including the Bee Resource Development Protection Law, the Beekeeping Extension Package and Strategy, and the Honey and Wax Quality Control Regulations.

The MoA is also providing training programs to farmers while the Holeta Bee Research Center is conducting a range of research to address challenges in the sector said Tarekegn Tsige Head of Public Relations with the ministry.

The equipment required to launch bee keeping efforts is also being produced domestically he added.

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The year on year inflation rate in Ethiopia falls to 20.9% in June

The year on year inflation rate in Ethiopia fell to 20.9% in June from 25.5% in May showing a decrease for the fourth straight month according to the Central Statistics Agency.

Year on year food prices also lowered to 21.5% from 29.2% in May while non-food inflation increased slightly to 19.8% from 19.6% in the previous month said the agency.

Prices did not show any change month on month.

The inflation rate in Ethiopia is expected to keep decreasing and reach single digit figure in November.

The year-on-year inflation rate fell to 32% in the new year compared to 35.9% in December. It, however, rose to 36.3% in February. It has been steadily decreasing from March onwards. It was 32.5% in March, then fell to 29.8% in April.

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Tsehay Industrial to Takeover Kality Metal

Tsehay Industrials plc is to takeover the publicly Kality Metal Products Factory three months after being declared the winner in the privatization bid tendered by the Ethiopian Privatization and Public Enterprises Supervising Agency.

The handover process was delayed for three months while the agency reviewed the company’s financial capacity to run the factory once it takes it over. Tsehay acquired the manufacturing company for 55 million birr and has paid 35% pre-payment and will pay the remaining 65% over five years.

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Ethiopian Airlines to Enhance Cargo Services

Ethiopian Airlines is to improve cargo services to increase foreign trade in the country. The airline is in the process of constructing a cargo terminal with the capacity to handle 1.2 million tons of cargo as part of its ambition to improve the services according to the Public Relations Office of the airline.