2merkato

Great Abyssinia announced it would invest more than 500 million Birr in the aim of expanding its existing production facilities of soft drinks as well as juice beverages in Ethiopia.

Ethiopian Statistics Agency (ESA) announced Ethiopia’s year-on-year inflation had declined from 10.2 percent to 8.7 percent in February.

As of the coming year, Berhanena Selam Printing Enterprise (BSPE) will be printing cheques as of the making year, making it the first of its kind in Ethiopia and twelfth from Africa. In addition to this, the enterprise will start printing passports as well as cheque personalization.

Commercial Bank of Ethiopia (CBE) announced it had bagged 2.4 billion USD in the first 6 months of the fiscal year.

The bank announced its achievement during the foreign trade and service day, ceremony to award best performing clients.

Ethiopian Railways Corporation (ERC) announced track laying for Awash-Kombolch-Woldia/Hara Gebeya railway project would start in a month.

According to Dereje Tefera, Communication Head at ERC, the project was launched back in October 2014 and it is now 33 percent complete. The railway stretches for 390 kilometer and estimated to cost 1.7 billion USD. The contractor is Turkish company, Yapi Merkezi.

Ethiopia and Rwanda concluded an air service agreement in the aim of opening one another’s air space. The agreement enables RwandAir and Ethiopian Airlines to operate without restrictions.

Both airlines are bestowed with operating for unlimited frequencies in week for passenger as well as cargo services.

Export abattoir built by nine Ethiopian Diasporas in Somali State has gone operational. The abattoir, whose capital investment is 172 million Birr, has the capacity to slaughter 2000 cattle per day.

The abattoir was inaugurated by Livestock and Fisheries State Minister, Gebregziabher Gebreyohannes (PhD) and President of Somali State, Abdi Mohammed.

Ethiopian Construction Works Corporation (ECWS) took its first project outside of Ethiopia. The project is for construction of irrigation infrastructure development project in Rwanda and it is for the remuneration of 3.6 billion Rwandan Franks.

Maersk Oil announced on 23 February that it had acquired 50 percent of five Africa Oil Corp. oil exploration licenses in Ethiopia and Kenya. Two of these licenses are contiguous licenses in Southern Ethiopia while the rest three are onshore exploration in Northern part of Kenya.

Ebiz Online Solutions PLC, the owner of 2merkato.com, released a new Construction Inputs Online Solutions Portal in Ethiopia last week. The portal is expected to solve the lack of integrated construction inputs' prices data.

The portal contains prices for construction materials, equipment and labour.