2merkato

Awash Winery aims to infiltrate the international market as the company is speeding up its expansion project to improve its capacity. The expansion work was begun in late 2014 and it now has reached one third completion. Upon conclusion of the expansion work, Awash will have a production capacity of 7 to 10 million liters a year.

Ethiopian Airport Enterprise (EAE) finalized a project to automate its operations and services at an outlay of 24 million Birr. The project is said to use Software Application Product (SAP) and Enterprise Planning systems.

Jigjiga Export Slaughter House (JESH), which is a based in Ethiopia and built at a cost of 200 million Birr, will start exporting meat to the Middle East in the coming 2 weeks.

Turkish business tycoons are expected to come with Nihat Zeybekci, Turkey’s Economic Minister, during his visit to Ethiopia. According to Ayalew Gobeze, Ethiopia’s Ambassador to Turkey, the Economic Minister’s trip to Ethiopia is scheduled for some time in the coming month.

A total of 108,750 poor rural households in four regions of Ethiopia are expected to benefit from a financial agreement signed today between the International Fund for Agricultural Development (IFAD) and Ethiopia to boost small-scale irrigation schemes.

Juniper Glass Industries PLC disclosed it has finished all regulatory and merger requirements which enables it to form a venture with 2 other firms. The partnership between the 3 companies is going invest a total of 70 million USD and set up a glass manufacturing plant in Ethiopia. For this investment Juniper has joined hands with CONSOL Glass and Roha Venture.

Investment Board, presided by the Prime Minister, ordered Development Bank of Ethiopia (DBE) to modify its lending policy in favor of foreign horticulture investors. From now on the bank, as per the board’s decision, will exempt foreign horticulture investors from the 50 percent deposit requirement other foreign investors have to fulfill.

Ethiopian Investment Commission (EIC) disclosed in the first quarter of the current fiscal year 72 projects, with an aggregate capital of 6.75 billion Birr, entered into implementation phase.

Africa’s largest airline group, Ethiopian Airlines, is pleased to announce that it will start four weekly flights to Victoria Falls, site of the most spectacular waterfalls in the world, as of March 26, 2017, with the latest B737-800 New Generation with Sky Interior.

Commissioner of National Planning Commission of Ethiopia, Dr. Yinager Dese, disclosed Ethiopia’s economy registered an 8 percent growth in the last fiscal year. This is despite the projected 11 percent.