2merkato

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.

Ethiopia lifted the almost year long ban on the export of raw cotton in view of the increase in production this year according to sources.

The decision was passed after a meeting between Mekonnen Manyazewal, Minister of Industry and Tefera Derbew, Minister of Agriculture and representatives from the textile industry last week.

The meeting followed a complaint received by the government from cotton growers who pointed out to excess cotton stored in their warehouses with textile factories purchasing less than the expected quantities.