Latest Business Alerts

Access Predicts Continued Price Increases in Ethiopia

A survey conducted by Access Capital Services anticipates continued price increases in the next quarter in Ethiopia. Access surveyed businesses and retailers across Addis Ababa for anticipated prices on their goods for a three month period.

It is expected that 103 items of a total of 184 surveyed will increase in price in the next three months according to the survey results. Amongst items expected to increase in price are all types of meat, house rentals and construction.

The survey discovered that two thirds of the 184 items surveyed are expected to show year on year price increases in the double digits.

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BASF Global Conducts Workshop in Ethiopia

BASF Global conducted a workshop to educate professionals on the ingredients of pills and tablets. The international chemical company provided the training to six factories in Ethiopia.

The workshop featured new technology to coat active pharmaceutical ingredients according to Asmelash Gebre Managing Director of HighCem Ethiopia PLC, local agents for BASF.

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Ethiopia and South Korea Agree on Industrial Cooperation

Ethiopia and South Korea signed a Memorandum of Understanding on industrial cooperation. The agreement was reached at a summit during Ethiopian Prime Minister Meles Zenawi’s visit to Seoul.

South Korea will support Ethiopia’s textile and leather sectors through sharing experience and know-how said the office of President Lee Myung-bak.

The relationship between the two countries is moving along rapidly said President Lee. He expressed hope that the visit from the Ethiopian premier will enhance cooperation.

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New Fees to be introduced by Ethiopian Cargo

Ethiopian Cargo is to introduce new fees for various services it offers in Ethiopia. The new fees are expected to include charges for security screening, port handling, terminal use and terminal transfers. There were no charges for these services provided previously.

Fees will be modeled on what Ethiopian Airlines has been paying in external airport terminals. Such charges are common to goods shipped by private companies in other countries according to industry experts.

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Ethiopian Airports Enterprise to Introduce Bonded Warehouse

The Ethiopians Airports Enterprise announced plans to inaugurate an 18 million birr bonded warehouse in Bole International Airport, Addis Ababa, Ethiopia. The warehouse will be used to store duty free goods. 85% of the construction of the bonded project has been finalized said Wondim Teklu.

The construction will be completed when the machines required to assemble more buildings are brought in he explained. The construction is being undertaken by Mesfin Industrial Engineering PLC.

The bonded warehouse allows the deferment of duty payment until the goods are moved.

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