2merkato

The Swedish based agro forestry company VIP disclosed it is keen to invest in Ethiopia’s forestry. The announcement was made during a press briefing organized by the company and Ministry of Foreign Affairs (MoFA).

Asian Paints’ indirect subsidiary completed a deal which grants it 51 percent stake in an Ethiopian paint manufacturer, Kadisco. The deal was done for a price of USD 18.95 million in cash.

Ethiopia’s state owned Construction and Business Bank S.C. disclosed it intends to raise the deposit amount to 28 billion Birr which will be a 30 percent increment by the end of the second Growth and Transformation Plan (GTP II). In addition to this, it plans to raise loan mobilization to 8.5 billion Birr and bring down non performing loans to 1.3 percent. With regard to number of branches, the bank’s intention is to increase the number to 175 across the entire country.

Ethiopia will start using the Port of Berbera this month as per the agreement the two countries concluded in late January 2015.

ASER Construction Plc and Yemane Girmay General Contractors Plc are awarded road projects that are worth 1.2 Billion Birr by the Ethiopian Roads Authority (ERA).

Ethiopia’s capital city Addis Ababa is going to host African Hotel Investment Forum 2015 for the second time. The event is going to be held two days, from September 30, 2015 to October 1, 2015.

Ethiopia’s Central Statistics Agency (CSA) disclosed the nation’s inflation rate has rose from 7.1 percent to 7.7 percent year-on-year in the month of January when compared to month previous year.

The central bank of Ethiopia, National Bank of Ethiopia (NBE), approved the candidate for the chairman position of Abyssinia Bank’s board.

Boston Partners Plc, owner of Kuriftu Resorts, is set to construct new resort outside of Ethiopia, Djibouti. The resort is going to be built on Musha Iseland, a small island off the coast of Djibouti.

Ethiopia’s population will approach 90 million in the current Ethiopian year, Central Statistics Agency (CSA) revealed.