Latest Business Alerts

Ethiopian Postal Service Wins Awards

The Ethiopian Postal Service Enterprise, Ethiopia’s sole mail carrier has won two bronze awards from the Universal Postal Union it announced.

The enterprise won the first award for its efficient Emergency Message Service according to Ziyen Gedlu, Head of the Communications work process with the EPSE.

The second award was given in recognition of the enterprise establishing a mechanism for complaints management said Ziyen.

The award will help the postal service to enhance its competitiveness she noted.

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Ethiopia to Probe Windfall Gains in Petroleum Sector

The tax authority of Ethiopia is to probe petroleum distributing companies on potential windfall gains following the regular price adjustments to the price of fuel by the government.

The Ethiopian Revenues and Customs Authority will launch the investigation in the coming weeks and will levy windfall tax should it discover that the companies are earning undeclared gains from the price adjustments according to sources.

The tax authority was notified of the windfall gains in the sector by anonymous informants who presented a study conducted on seven petroleum companies it was learned.

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Ethiopian Capital Announces New Lease Prices

The city administration of Ethiopia’s capital Addis Ababa has announced the new per m2 prices for land lease in the city. The city revised the existing lease rate as per the current market price it was learned.

The new prices will serve as a benchmark for land being auctioned by the city and for former private holdings being transferred to the lease system as per the new Urban Lands Lease Holding Proclamation.

The new directive divides land in the city into three zones according to their proximity to the center.

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Dalol Oil, Ethiopia Launches its Sixth Fuel Station

Dalol Oil Share Company, Ethiopia has formally announced the official launch of its sixth fuel station in Suluta.

The new station is located on 3500m2 in a joint investment with a local investor at a cost of 4 million birr.

The opening of the 6th fuel service station as well as a depot marks the official launch of the company said Esayas Eyesuswork, Chief Executive of Dalol Oil. The new service station expects to provide all kinds of fuel, lubricants, shops washing facilities and cafes.

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Tsehay Insurance, Ethiopia Launches Operations

Tsehay Insurance SC formally entered the insurance sector in Ethiopia at a ceremony held last Saturday.

The Insurance Company launched operations with its first branch opened in mid-May and currently has three branches located in the Abune Petros, Haya Hulet and Merkato areas of Addis Ababa.

The company is planning two more branches before the end of the current financial year in July in the Addis Ketema and Meshualkia areas.

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