2merkato

Ethiopia’s textile export earnings in the past 9 months has shown significant decline by only generating 65 million USD. The target for the period was 110 million USD.

Silea Agricultural Farm has been privatized by Ethiopia’s Ministry of Public Enterprise and transferred to the privately owned company Lucy Agriculture PLC. Silea is privatized for 59.7 million Birr and Lucy had first opportunity to overhaul the Enterprise before the Ministry floated an open bid.

Fame Impex Trading PLC disclosed it will distribute the global brand McVitie’s Digestive Biscuits in Ethiopia.

Third bid is announced by Ethiopia Investment Commission (EIC) for the sheds in the Hawassa Industrial Park.

WAFA Marketing and Promotion PLC disclosed it has organized trade and investment forums in the United States (US) and Canada cooperating with Ethiopia’s Amhara State and stakeholders.

Ethiopia’s flag carrier, Ethiopian Airlines, is planning to expand to India with new flights and also carry out aircraft upgrade.

Commercial Bank of Ethiopia (CBE) bagged gross profit of 10.9 Billion Birr in the first 9 months of the current fiscal year.

Abyssinia Springs and Nestlé Waters formed a joint venture (JV) for the purpose of carrying out bottled water business in Ethiopia. According to their agreement, Nestle will have majority stake in the JV.

One of Ethiopia’s railway projects, Addis Ababa – Meiso – Dewele railway line will go operational in September, Ethiopian Railways Corporation (ERC) announced.

Ethiopia’s Ministry of Urban Development and Housing (MUDH) announced it will transfer more than 40,000 condominiums to the beneficiaries during the current fiscal year.