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The National Bank of Ethiopia has issued a new directive raising the minimum paid up-capital of micro-finance institutions, Fortune reported.

The directive requires micro-finance institutions to raise their minimum paid-up capital of 2 million Ethiopian birr, effective October 1, 2013.

The Ethiopian Ministry of Urban Development and Construction announced that its has targeted to create 1.8 million jobs in the current fiscal year.

Speaking in a meeting organized to evaluate the last year performance of the state owned Construction Design S.C, the State Minister Engineer Haile Meskel Tefera said, one million of the total job is expected to be created in the construction sector. Ongoing and new road and housing projects are helping to realize this goal, he said.

Investment in Ethiopia’s mining sector has reached 16.2 billion Ethiopian birr, Walta Information Center reported.

The number of domestic and foreign investors engaged in the mining sector has also reached 137, Bacha Fuji, the Ministry’s public relations and communications director, told Walta Information Center.

The Holland Africa Poultry Partners in partnership with the Netherlands – African Business Council, are organizing the first “Ethiopian poultry mission to the Netherlands” from October 6 – 12.

The mission, organized with an aim to bolster the collaboration between all important stakeholders in Ethiopian poultry sector, is expected to bring together the key players from the Ethiopian and Dutch poultry sector.

Oromia International Bank (OIB), a private financial institution, become the first to implement interest-free banking [Islamic banking] in Ethiopia.

A recent National Bank of Ethiopia (NBE) directive allowed banks to provide interest-free banking service using a separate window along with their other banking services.

Asia Pacific Gold Mining Investment Ltd. announces identification huge graphite potential in western Ethiopia.

The Company has also entered into an agreement with a Canadian Company for exploration and development of its concessions in Western Ethiopia.

The Ethiopian Privatization and Public Enterprises Supervising Agency (PPESA) is to fully privatize two state-owned enterprises, Walta Information Center reported.

The bid which opened on Monday 1 October 2013, include Ethiopian Mining Development S.C and Caustic Soda S.C, Wondafrash Assefa, PPESA corporate communications director, told Walta.

The Ethiopian Ministry of Trade signed a memorandum of understanding with various federal sector offices that issue certificate of professional competence for business activities, Walta Information Center reported. 

The MoU aims to ensure a coordinated working relation between the ministry and the 36 sectoral government institutions that issue professional competence certificates for commercial activities.

Diageo, the London based alcoholic beverages company is planning to invest at least US$ 50 million in the Meta Abo Brewery soon, according to Capital.

Diageo’s Marketing Director for African Regional Markets, Ekwunife Okoli, said the company will be investing in the expansion of the Meta Abo Brewery.

The Ethiopian Maritime Affairs Authority issued a new rule for containerized cargo shipments limiting maximum allowable cargo weights of 20 TEU (Twenty Feet Equivalent Unit) containers not to exceed 20 tons, including the weight of the container, Capital reported.

The new rule reduced container weights from 24 to 20 tons in order to prevent damages to roads and promote safety.