2merkato

The annual inflation rate in Ethiopia fell to 32% in January following a slow down in food price increases according to the Central Statistics Agency.

The inflation rate for the month of January dropped from 35.9% in December following the drop in annual food inflation to 41.4% from 46.7% in December said the report from the agency.

Non food inflation also showed a decrease from 21.8 percent in December to 19.2% in January noted the Agency.

Country Tower, a shopping mall dedicated to electronic and IT equipment was opened in Addis Ababa, Ethiopia.

The six-storey building constructed at a total cost of 65 million birr is to be found on Wawel Street opposite the Cathedral High School.

The mall is designed to offer all IT items and electronic products at one place as well as offering office space for businesses engaged in technology related work according to Daniel Mamo, Project Manager of the mall.

Dalol Oil is set to enter the Ethiopian market to distribute fuel and lubricants after finalizing the process with Ministry of Trade, Ethiopia.

The domestic oil company signed an agreement with the Ethiopian Petroleum Enterprise to obtain its operational permit and launch services.

Esayas Yeyesuwork Chief Executive Officer of Dalol signed an agreement with Yigzaw Mekonnen, Director General Imports and Distribution of Ethiopian Petroleum Enterprise signed the agreement after the Ministry of Trade gave its final approval.

Deloitte Consulting Ltd. has formed a collaborative venture with HST consulting plc, a local firm to enter the market in Ethiopia.

The partnership was registered with a capital of 1.1 million birr Deloitte is expected to offer management consultancy, senior management training services, and tax advisory.

The two companies took about a year in discussions as Deloitte studied the market potential in Ethiopia according to a senior partner with HAST consulting plc.