2merkato

Ethio Telecom announced that it has raised the salary of its employees by an average of 30%. The Ethiopian telecommunications provider offered employees back pay from July 8th of this year.

The raise was delayed by two years from when Ethio Telecom promised an increase. The employees at the telecommunication provider had not received a raise since the former Ethiopian Telecommunications Corporation was reorganized as Ethio Telecom. 

The Ethiopian year-on-year inflation rate for November lowered to 39.2% from 39.8% in October according to official data released this week.

Consumer prices fell by 0.3% as compared to October, showing a decrease for the first time in nine months. Inflation for food items lowered from 51.7% in October to 50.3% in November.

Price pressure particular eased for items such as fruits and vegetables, spices, pulses, sorghum, maize explained the statement from the Central Statistics Agency. 

The Ethiopian Sugar Corporation is to import 300,000 quintals of sugar beginning in February. It is estimated that sugar imports, mainly from Brazil and India, will cost Ethiopia 555 million birr including warehouse rental and transportation.

The sugar will be imported at a cost of 1,850 birr for the quintal and is expected to retail for 1,264.40 per quintal on the Ethiopian market supported by government subsides.  The sugar will be sold by consumers’ cooperative unions and the Merchandise Wholesale and Import Trade Enterprise.

Nyala Insurance registered 10,000 vehicles for mandatory third party insurance policies. The insurer has equipped one of its branches to facilitate third party insurance coverage.   

The insurance company has trained personnel to handle third party registration process at additional cost said Eyob Meherette CEO of Nyala Insurance. The Insurers specialized set up is to be found at its Africa Avenue Branch and is expected to speed up the registration process he explained.