2merkato

Ethiopia is to sign an agreement, in November, to ship and unload coal through Port Djibouti. The agreement to be signed next month with Djibouti allows Ethiopian Petroleum Enterprise (EPE) to import coal to be used for fuel in cement factories.

Ethiopia and Djibouti have agreed on the general terms of the deal and the process of drafting the contract is underway said Mekonnen Abera, head of market research and business promotion for Ethiopian Shipping and Transit Services Enterprise.

Mekonnen traveled to Djibouti with Yigzaw Mekonnen director general of EPE to establish the terms of the agreement.

The Ethiopian Ministry of Justice (MoJ) has drafted a new bill that authorizes the establishment of legal firms for the first time. The draft bill allows the establishment of law firms offering advocacy services as ‘Ordinary Partnerships’.

The new bill will prohibit members of a law firm from membership in multiple legal firms and from providing private advocacy services.

The Ethiopian Privatization Agency is offering Awash Winery, Commercial Printing Enterprise, and Hammaressa Edible Oil for privatization. The three companies failed to attract bids at previous auctions and are being offered for sale through negotiations.

Parties interested in negotiating for the companies are required to present financial and technical proposals said Wondafrash Assefa head of public relations head at the Privatization & Public Enterprises Supervision Agency (PPESA).

An estimated 10,000 condominium houses will be transferred over the next two months, to owners in the Ethiopian capital according to Kuma Demeksa, Mayor of Addis Ababa City Administration.

The condominium houses built at the Summit site will be transferred to new owners selected by random draws as well as to people relocated by the redevelopment projects currently underway in the city said Kuma.  

The new condos are in the final phase of construction awaiting finishing work such as painting, sewage systems, installation of water and electric lines said the Mayor.