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Ethiopian horticulture companies are eying South Korean market, following the launch of direct flights to Seoul by Ethiopian Airlines.

The export market for Ethiopian horticultural produces is confined to Europe and the Middle East, while there is huge demand in other parts of the world. Direct flights between Addis Ababa and Seoul is launched on Monday 17 June 2013. Add a comment Add a comment

Hawassa City Administration is building  new city hall at a cost of 265 million Ethiopian birr.

The city hall is the latest in a series of major projects launched by the city recently, including a 170 million birr road building program, announced in April. Add a comment Add a comment

Ethiopia's United Bank announced its plan to increase its authorized capital and paid-up capital to one billion Ethiopian birr.

The Bank unveiled its plan to increase its capital in three years time by selling four million shares, each worth 1,000 birr  on its 8th Shareholders’ Extraordinary meeting held on Saturday June 15.

Ursus SA, one of Poland’s biggest maker of agricultural equipments is to visit Ethiopia to explore investment opportunities.

“We want to invest in the country through joint venture with local investors to assemble agriculture machinery for the local and regional market,” said Krzysztof Sekula, Ursus deputy commercial director. Add a comment Add a comment

Asseco, a Polish IT company  has shortlisted local Information Technology companies for partnership in a bid to join the Ethiopian IT sector.

Four companies were shortlisted out of 14 IT companies to be considered for partnership with the company.

National Cement S.C (NCSC), located in Dire Dawa, Ethiopia, has started exporting cement to neighboring Djibouti and Somaliland.

National Cement, the previously state owned Dire Dawa Cement Factory, commenced export after it began production with its full capacity following completion of   expansion at a cost of 2 billion Ethiopian birr. Add a comment Add a comment

Chinese banks have expressed interest to further their involvement in infrastructure development and other investment activities in Ethiopia.

Ethiopian Prime Minister Hailemariam Desalegn has held discussion with executives of the Chinese banks in Beijing during his visit to China last week. Export Import Bank of China and Development banks of China have so far provided USD 6 billion and USD 1.6 billion respectively for Ethiopia in grant and loans. Add a comment Add a comment

The Export-Import Bank of India has provided USD 300 million loan to the Ethiopian Government railway project. The loan term entail concessional funds at an interest rate of 1.75 per cent.

The fund will be used to construct the railway project to connect the Ethiopian city of Asaita to the port city of Tadjourah in Djibouti. About 50 km of the 210-km long railway will be in Djibouti, while the rest of it lies in Ethiopia.

The Citizens’ Network for Foreign Affairs (CNFA), a program under the the United States Agency for International Development (USAID) is to finance Farmers’ Service Centers, a network of centers offering training and advice to more than 30,000 Ethiopian farmers in Oromia Regional State of Ethiopia.

The Oromia Bureau of Agriculture head, Abebe Diriba, praised the Ethiopian government's agricultural development policies and pointed out that work is now being done to encourage the private sector to invest in better quality seeds and chemicals. Add a comment Add a comment

The Addis Ababa and the Surrounding Oromia Integrated Development Plan Project Office has drafted a plan for a new airport site on the  western outskirts of Addis Ababa in the Oromia Special zone.

Fetuma Lemessa, Deputy Manager of the Addis Ababa and the Surrounding Oromia Integrated Development Plan Project Office, told Capital that based on the plan, the town of Teji, about 30km west of Addis Ababa on the road to Jimma is the proposed site for the location of the new airport.