2merkato

BGI Ethiopia paid an initial 45 million birr for the shares it acquired in Raya Brewery. BGI has agreed to pay 75 million birr for a 30% share of the brewery.

The partnership between BGI Ethiopia, an established beer producer in the country, and the new brewery is expected to make the two companies highly competitive on the national market.

The Addis Ababa, Ethiopia City Roads Authority is to establish a traffic management bureau to solve the traffic light problem in the city. The traffic light problem in the city requires more than maintenance services said Fekade Haile Manager of the AACRA.

The new traffic management bureau is expected to carry out an in depth study of the traffic conditions in the city and the role of traffic lights to propose a solution to the existing problems.

The Saudi Star Agriculture Development plc, has named Fikru Desalegn, former State Minister for Capacity Building as its new Executive Director. The retired minister took over, one of the largest agro-industry projects in Ethiopia, as of November 1st said Haile Assegide outgoing executive director and current Chief Executive of Derba MIDROC and Tossa Steel Mill.

The new Executive Director will oversee the agro-industry project launched by Saudi Star in Gambella Regional State. He is expected to mange the operation of the rice farm as well as direct the construction of two mills in Gambella and Bishoftu.

A team from the Ethiopian Revenues and Customs Authority investigated Nile Drilling and Exploration plc for alleged evasion of customs duties on imported items to Ethiopia.

The team seized a water well drilling rig from the company’s garage according to sources. It was alleged that  the rig had not fulfilled mandatory customs formalities.

The water well drilling rig passed Modjo checkpoint and was taken to the Indian company’s garage without passing the Kality Customs clearance point said the sources. This was found to be in contravention of customs procedures which require imported items entering the capital to be cleared by the Kality office before their owners can take legal possession of them.