2merkato

The 9th African Fine Coffees Conference and Exhibition is to be held in Addis Ababa, Ethiopia. The conference will include more than 1,500 buyers, producers, traders, marketers and equipment and input dealers. 

Participants will showcase their products at the exhibition noted the Eastern African Fine Coffees Association, organizing the Conference.  

The timing of the Conference is ideal as world prices for coffee are currently at a new high boosting the confidence of producers inclined to abandon coffee crop according to conference organizers.

Kuma Demkesa, Mayor of Ethiopia’s capital city Addis Ababa, laid the foundation stone for the construction of 42,000 new condominium housing. The city administration plans to construct condominium house at 16 sites around the capital.

The successful construction of new condominium housing is a priority for the city administration said Kuma.

The Ethiopian Electric Power Corporation scrapped a proposed plan to restructure. The restructure called for Ethiopia’s electric power provider to be split into four separate entities.

A 33 million birr study carried out by Italian consultants Ben and Company had proposed the four way split into Power Distribution, General Administration, Utility Management, and Hydroelectric Power Dams.

It was planned that that the split into four different entities, that was to commence as of last November, would make the operations of EEPCo more efficient.

Yetebaberut Behrawi Petroleum S.C, Ethiopian announced a net profit of 18.7 million birr for the last Ethiopian financial year. The company’s profits were 13% above target announced Tsega Asamere Board Chairman at the annual meeting of the company held on the 2nd of January at the Hilton Hotel.

YBP made 27.6 million birr in profits before tax after earning 3.342 billion birr in revenue from the sale of 253.6 million liters of fuel said Tsega. YBP also raised 60.5 million birr through providing 34,000 liters of oil he added.

The petrol station operator has seen a 45 percent increase in sales from the previous year explained Tsega.