2merkato

The Development Bank of Ethiopia (DBE) approved last Tuesday a 1.52 billion birr loan to Habesha Cement.

The company had sought from the bank 70 percent of the fund it need for setting up a cement factory in the country.

The bank is currently drafting the loan agreement and it is expected that the parties will sign the deal next week.

The annual production capacity of Habesha’s first factory is projected to be 1.4 million tonnes of cement a year, according to Mesfin Abi, CEO of the company.

Areas of interest include real estate, mining, manufacturing, healthcare and agro-industry.

Ethiopians living in the United States are going to discuss the existing investment opportunities in Ethiopia at a conference to be held in Washington DC.

The conference, under the theme "Collaborative Investing by the Diaspora", is scheduled to take place on Saturday October 8 at the Washington Marriott Wardman Park Hotel.  

The conference is a half a day U.S. private-sector-led initiative. The organisers expect about 300 people to attend the meeting.

The Ethiopian Airlines said it had changed its plan to purchase Bombardier aircraft.

It was reported last week that the airlines was holding talks with representatives of Bombardier, the Canadian airframer, for the purchase of additional Q400 aircraft which are known for less emission and noise.

Tewolde Gebremariam, CEO of Ethiopian said that after a series of managerial meetings the airlines had decided to conduct a market study to determine what type of aircraft it needs to buy and how many.

A centre of excellence for freight logistics, Ethiolog, was established yesterday at the Addis Ababa University.

The centre will make the freight transport and logistics efficient and cost effective, Getachew Mengiste, Minister of State for Transport, said.

Ethiolog is expected to create a joint forum for higher learning institutions, government offices and the private sector to work together. And it will be entrusted with conducting research to address problems in the transport sector.