Latest Business Alerts

World Economic Forum to Be Held in Ethiopia

The annual World Economic Forum will be held in Ethiopia in May. The forum is expected to be attended by 1000 influential world leaders according to Precise Consulting International, organizers.

The forum will create a unique opportunity for Ethiopian business people to engage with global multi national corporations and international investors said Henock Assefa, Manging Partner of Precise.

The forum will be attended by 400 senior business executives and senior government officials and Ethiopian business people can best take advantage of the opportunity by doing their homework and attending with short pitches to address the influential international business representatives in attendance explained Henock.

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Ethiopian Airlines to Sign Postal Service Agreement with South Sudan

Ethiopian Airlines, Ethiopia’s flag carrier, along side Kenyan Airlines is to sign an agreement South Sudan to provide postal services according to an official source.

The contracts with Ethiopian and Kenyan airlines will be signed in the near future according to Juma Stephen, Under-Secretary with the South Sudanese Ministry of Telecommunications and Postal Services.

The templates for the contracts are already in place and the signing can happen in a month’s time he said.

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Ethiopian Airlines Cutting Cost

Ethiopian Airlines, Ethiopia’s flag carrier, is taking steps to economize to save up to one billion birr to ward of operational difficulties due to a significant increase in expenditure following a sudden increase in international fuel prices according to sources.

The measures to be adopted by the airline include seeking employees to relinquish a percentage of their salaries, soliciting free over time service, increasing customers, reducing waste, offering maintenance service for other airlines, and negotiating a reduction on the lease paid on rented aircraft.

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Ethiopia Considering the Reduction of Capital Required to Import Tracker Devices

The Revenues and Customs Authority of Ethiopia is considering the reduction of the 20 million birr capital required of IT companies interested in supplying the electronic cargo tracking devices to be installed on freight tracks traveling to and from Port Djibouti.

The tax authority has not certified any suppliers yet because the established requirement proved to be a deterrent according to sources.

Complaints received from the IT sector has led ERCA officials to re-evaluate their requirements based on an assessment of practices in place in other countries.

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Ethiopia Releases Interim Report on Poverty

Ethiopia released the Interim Report on Poverty for 2010-11 last week. The Household Income Consumption and Expenditure Survey for 2010-11 showed that the poverty head count in Ethiopia is 29.6%

The proportion of poor people as established by this survey showed a significant decline from 2004-05 when the index was 38.7%.

Poverty rate has decreased in both rural and urban areas, with a more marked decline in urban areas according to the data analysis.

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