2merkato

Diageo plc plans to increase its share of Ethiopia’s beer market from 15% to 50% as it finalizes its takeover of Meta Ambo Brewery, Ethiopia. The international liquor manufacturer would like to develop the business and overcome the competition in Ethiopia said Ekwunife Okoli, Head of African regional markets for Diageo.

Diageo will invest in enhancing capacity to increase supply according to Nick Blazquez, President for Diageo Africa. The producer expects to introduce other of its products to Ethiopia he noted.

Annual inflation rate in Ethiopia fell to 35.9% in December following a decline in some food costs reported the Ethiopian Central Statistical Agency.

Prices increased by 1.7% during December with food prices climbing by just 0.2% due to a decrease in the price of some pulses and cereals said the Agency.

Ethiopian Airlines, Ethiopia’s flag carrier, accepted the bid submitted by the Aviation Industry Corporation of China to construct a 100 million dollar maintenance hanger.  

The AVIC and Ethiopian Airlines are discussing financing for the project said Tewolde Gebremariam, Chief Executive of Ethiopian Airlines.

It is expected that the construction project for the maintenance hanger will commence in the first quarter of 2012 to be completed within 900 days from when construction begins according to Tewolde.

The Metal and Engineering Corporation of Ethiopia has agreed to replace the electric meters operated by the Ethiopian Electric Power Corporation. The project is valued at nine billion birr and will exchange electric meters for new ‘smart’ meters.

The new ‘smart’ digital meters are expected to automatically register electric consumption and report back to EEPCo without requiring manual reading like the analog meters currently being used.

MetEC has employed an estimated 2000 workers to be paid per every new meter they install according to sources.