2merkato

Ethiopian Airlines, Ethiopia’s flag carrier, failed to sell a Boeing 725 aircraft at an auction which listed the aircraft for 80,000 birr. The airplane is being auctioned for the breach of a maintenance contract between Ethiopian Airlines and owners Trans-Saharan Airlines. 

Ethiopian Airlines requested the High Court to postpone the sell because only seven bidders took part in the auction.

The Revenues and Customs Authority of Ethiopia is to conduct the second phase of the business survey to register more taxpayers in Addis Ababa. The tax authority will begin the survey as soon as it receives a go ahead from the City Administration according to officials.

ERCA plans to survey 23,000 businesses in Addis Ababa in the second phase of the survey expected to commence in two weeks.

McKinsey and Company, an international consulting firm in the management industry, is to open an office in Ethiopia. The firm is entering Ethiopia to take advantage of increasing market opportunities in the agricultural, industrial and service sectors. 

The McKinsey and Co. office in Ethiopia is expected to service foreign investors investing in the Ethiopian agro industry sector from China, India and Turkey and other countries according to sources.

Ethiopia should focus on light manufacturing industries and related export processing zones according to the latest survey report submitted to senior government officials by the World Bank.

The recommendation to concentrate on light manufacturing industries received positive feedback from the Ethiopian government according to Guang Zhe Chen Country Director for the World Bank in Ethiopia.