2merkato

Tullow Oil plc (Tullow) announces that the Tultule-1 wildcat well in the South Omo block onshore Ethiopia, has reached a total depth of 2,101 metres and will be plugged and abandoned as a dry hole.

The well was targeting a reservoir section similar to the sands drilled in the nearby Sabisa-1 well where oil shows were encountered but these sands were not penetrated in Tultule-1. Gas shows were however recorded which reaffirm the presence of a hydrocarbon source in the region.

Nyota Minerals Limited announces that it has entered into a conditional agreement with KEFI Minerals PLC, a gold and copper exploration and development company, for the sale of 75 percent of the issued share capital of Nyota Minerals Ethiopia Limited, the Company’s subsidiary which owns 100% of the Tulu Kapi Gold Project in Ethiopia and the proximal exploration licences.

Farmers in Bale Zone of Oromia State earned over 36 million Ethiopian birr from sale of 485,000kg honey during the first quarter of the current fiscal year, Ethiopian News Agency reported citing the Zonal Livestock Development and Health Office.

Hawassa University Technology Institute said it is undertaking an expansion project at a cost of 500 million Ethiopian birr to increase its enrollment capacity and quality of education, Ethiopian News Agency reported.

The Ethiopian Privatization and Public Enterprises Supervising Agency (PPESA) has offered 11 state-owned enterprises for privatization, Walta Information Center reported.

Asebe Kebede, the Agenecy's Deputy Public Relations Head, told Walta Information Center today, the Ethiopian Mineral Development S.C., Ethiopian Pharmaceuticals Manufacturing S.C, Bahir Dar Textile SC, Kombolcha Textile SC,

The Privatization & Public Enterprises Supervising Agency’s (PPESA) tender to privatize state owned enterprises again failed to attract bidders, Fortune reported.

The Agency put Caustic Soda S.C. and Ethiopian Mineral Development S.C. on the auction block in October, however it failed to attract not even a single bidder.

The Amhara Revenues and Customs Authority said it has collected more than 1.4 billion birr in revenue from various income titles over the past five months, Ethiopian News Agency reported.

Communication Expert with the Authority, Alemayehu Gashaye told Ethiopian News Agency that 32.4 percent of the total revenue was generated from direct taxes, while the remaining is from municipality services.

The Lamberet Bus Terminal is to commence operation within the next month, after years of delay, Fortune Reported.

The terminal which lies on 22,053 square meter lot in Yeka sub city, was originally scheduled for completion in June 2005.

Bank of Abyssinia (BoA) concluded a contract with Computer Business Machines (CBM), a Lebanon-based company for the purchase of 50 Automatic Teller Machines (ATM), on December 7, 2013, Fortune reported.

BoA has also selected S2M, a Moroccan company for the supply of 200 Point of Sale terminals (PoS) and a switch system, however they have yet to sign the contract, according to Fortune.

Habesha Breweries S.C sold 90 percent of its additional shares auctioned in November to  two Dutch companies, Fortune reported.

Bavaria bought 20,000 shares worth 20 million birrr, and  Peter Linssen acquired 45,000 shares for 65 million birr, now have a combined 60 percent ownership of Habesha Breweries.