Latest Business Alerts

Hydro Power Project in Ethiopia Delayed

The construction of the Chemoga-Yeda hydropower plant on the outskirts of Debre Markos is lagging behind schedule due to lack of finances.

The 555 million dollar hydropower project was being funded by the Chinese EXIM bank. It was planned to be executed in two stages and to generate 278 megawatt of electricity.

The Chemoga-Yeda River is one of the tributaries of the Nile. Countries downstream of the Nile are concerned about the hydropower project and have been lobbying to the EXIM bank for delay in financing the project, officials of the Ethiopian Electric Power Corporation (EEPCo) said.

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Ethiopia to Host International Tourism, Travel Fair

The Addis Ababa Chamber of Commerce and Sectoral Association said that it was organising an international exhibition of tourism and travel from June 14-18, 2012.

About 80 companies from 21 countries are expected to participate in the exhibition.  

The tourism and travel fair will be organized for the purpose of introducing Ethiopian tourist attractions to the international business community.

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Dry Ports Services in Ethiopia Earns 46.1 Mln Birr

Dry Ports Services Enterprise made a 46.1 million birr net profit last fiscal year from dry ports activities like loading and unloading cargoes, and temporary storage for import and export cargoes.

The income was obtained from dry port services to 19,125 containers and 526 vehicles. The enterprise had planned to make 93.10 million birr in gross profit in the last fiscal year but earned an actual profit of 91 million birr.

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Endowment Fund in Ethiopia to Conduct Feasibility Study for Steel Mill

The Endowment Fund for Rehabilitation of Tigray (EFFORT) said that 18 local and international companies had responded to the tender for feasibility study to erect a steel mill in Shire, Tigray Regional State.

The companies which expressed interest in conducting feasibility study include TATA, the Indian consultancy service, and Mastell, a Chinse consultant.

The bids from the 18 companies were scheduled to be technically and financially evaluated yesterday.

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Ethiopia to Join Largest Airline Alliance

The Ethiopian Airlines is going to be fully integrated into Star Alliance, the largest airline alliance, in October. The process took over a year and 6.9 million dollars which has not been paid in full yet.

The airlines had to fulfil 83 criteria, including IT compliance, to earn full membership of the alliance.
Ethiopian is the third African airline to join the Star Alliance after South African Air (SAA) and Egypt Air.

Ethiopian uses SABER booking system, which needed to be connected with the central system of the Star Alliance headquarters, and with those of the 29 member carriers.

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