2merkato

Nyota Minerals, the dual listed on the AIM Market of the London Stock Exchange (AIM:NYO.L) and the Australian Stock Exchange gold exploration and development company, has reported the discovery of a new gold anomaly at the Boka-West target in the company's fully Northern Block exploration license areas in Western Ethiopia.

The company reported that, the gold-in-soil anomaly extended for 2.0KM in length and was up to 500 metres (m) wide. The company said that it was also coincidental with anomalies for copper (Cu), zinc (Zn) and bismuth (Bi). Add a comment Add a comment

The National Bank of Ethiopia (NBE), the regulatory organ of financial institutions in Ethiopia, is set to introduce a standardized cheque with enhanced security using Magnetic Ink Character Recognition (MICR) starting from early January 2014.

The new cheque to be printed under the control of the NBE are expected to incorporate enhanced security features so as to make them more difficult to tamper with. Add a comment Add a comment

The Ethiopian Minerals Development Enterprise S.C. has shelved it construction material plant project proposed in the Afar Regional State due to lack of finance.

The Ethiopian Privatization and Public Enterprises Agency (PPESA) passed its decision to suspend the project as the enterprise is planning to build a tantalum manufacturing plant at the Kenticha tantalum mine and it would be difficult to undergo the two projects together. Add a comment Add a comment

Huajian, one of the largest shoe exporters in China, is planning a multi-million-dollar factory expansion in Ethiopia  to benefit from preferential trade tariffs and lower labor costs.

The company, which makes women shoes for global brands such as, Tommy Hilfiger, Guess, Naturalizer, Clarkes and others opened its factory at a purpose-built industrial zone on the outskirts of Addis Ababa a year ago. Add a comment Add a comment

An aquaculture workshop organised by Wageningen UR, a Dutch university and the Food and Agriculture Organisation of the United Nations (FAO) in Addis Ababa has established a multi-stakeholder platform aimed at developing aquaculture in Ethiopia.

IMARES and LEI, both part of Wageningen UR, will provide technical and economic knowledge and market intelligence. Add a comment Add a comment

Coca Cola announced that it will make its products available in plastic bottles and is finalizing the construction of the plastic containers’ production facility located inside the compounds of the company's plant in Addis Ababa.

“We will launch our products in plastic bottles soon. We are making sure that we have a well-established recycling system before we launch the products. The recycling system we will have in place will involve communities and create job opportunities,” said Greig Jansen, CEO of East African Bottling S.C. Add a comment Add a comment

Vegpro Group,  a Kenya based vegetable and flower exporter, is to expand its operations of horticulture packaging and exports in Ethiopia.

The company has several investments and package centers in various countries in Africa and is planning to setup a packaging center in Southern Ethiopia for the export market.

The Kenyan horticulture giant is one of the biggest companies supplying food to supermarkets in the UK and EU. Add a comment Add a comment

The Commercial Bank of Ethiopia (CBE) has approved a 600 million and 370 million Ethiopian Birr loan requests of Raya and Habesha breweries respectively.

Raya Brewery is planning to erect a brewery plant with an annual production capacity of 300,000hl, in Bohera Mountain, South of Maichew, 667km from Addis Abeba.

Raya has managed to raise 248 million Birr from the sale of shares over the past two years; 30pc of these shares were sold to BGI Ethiopia and 22percent to Dawit Gebre-Egziabher, a businessman. Add a comment Add a comment

Ethiopian government is planning to establish Construction Industry Council to regulate the construction sector. A draft regulation prepared by the Ministry of Urban Development and Construction for the past two years is set to be tabled to the Council of Ministers in a month time.

The regulation is drafted drawing on the experiences of countries such as, the U.S, China, India and Korea.

Ethiopian Airlines is planning to buy or lease up to six more 787 Dreamliner passenger jets by 2018 as it expands its destinations in Asia and South America, its CEO told Reuters.

"We are looking at another five or six by 2017/18. We always maintain a 60/40 percent balance, with 60 percent owned and 40 percent leased," Tewolde Gebremariam said on the sidelines of a global airline industry conference.