2merkato

Development Bank of Ethiopia (DBE) announced selling of Grand Renaissance Dam bonds worth 1.4 billion Ethiopian birr in the concluded Ethiopian Fiscal Year.  

Development Bank of Ethiopia President, Isaias Bahire, told Walta Information Center that preparations are underway to involve farmers and pastoralists across the nation in the purchase of bonds in the current fiscal year.

SgurrEnergy, Glasgow based renewable energy consultancy company is providing wind monitoring and analysis services for the first phase of the 400 MW wind farm project in Debre Birhan, Ethiopia.

Terra Global Energy Developers, U.S. energy developer selected SgurrEnergy to carry out wind measurement study for one year as part of the project’s technical and financial feasibility stage.

Ethiopian insurance companies have collected combined gross premiums of 4.5 billion Ethiopian birr from general insurance, in the 2012/13 fiscal year, Fortune reported citing unaudited aggregated report of the National Bank of Ethiopia.

The amount showed a 17.7 percent growth from the 2011/12 aggregate performance.

Ethiopia's Seka Agro Processing PLC. is planning to establish a juice processing plant in Bench Maji Zone, Southern Regional State of Ethiopia, Fortune reported.

The plant will be constructed on a four hectare plot, located 2km away from the company’s mango farm. Seka has already ordered processing machinery from Germany and Italy.

Ethiopia has earned US$281 million from the manufacturing sector during the concluded fiscal year, the Ministry of Industry said.

Corporate Communication Director with the Ministry, Melaku Taye told Ethiopian News Agency over the weekend that the stated sum secured during the reported period is 52 percent of the US$542.4 million target set by the ministry. Add a comment Add a comment

Ethiopia's Cooperative Bank of Oromia S.C. has reported earning of 263.75 million Ethiopian birr Gross profit in the 2012/13 fiscal year.

At a meeting held on Saturday August 10, 2013 at Saro-Maria hotel, the executives of the Bank stated that this year’s performance has shown an increase  of 88.70 percent compared to  the previous year’s performance, which was 139.8 million birr.

The Ethiopian Petroleum Supply Enterprise announced the resumption of importing benzene from Sudan as of August 12, 2013 after four months suspension.

According to a letter written to all the nine oil retailers operating in Ethiopia, the enterprise announced that all dealers should mobilize their trucks to import fuel from Nile Petroleum Depot located in Al Shagara, near Khartoum. Add a comment Add a comment

Ethiopia's Nyala Motors S.C, exlusive distributor of motor vehicles and  equipments announced plans to establish assembly plant for Nissan vehicles in Ethiopia. Abraham Abegaz, CEO of Nyala Motors, said the plan might take up to five years.

The Ethiopian Ministry of Mines is to reduce the validity duration of artisanal mining license from nine years to a maximum of two years, Fortune reported. The provision is said to be included under the draft mining proclamation which also  include numerous amendments to the 2010 mining proclamation.

Under the current law, artisanal mining license can be renewed twice for three years. Additional amendment under the draft proclamation include provision which reduced royalty from the sale of gemstones from the current 8 percent to 7 percent. Add a comment Add a comment

The Ethiopian Chapter of Women Entrepreneurs was launched on the eve of the 12th African Growth and Opportunity Act (AGOA) forum, which took place from 9-12 August, 2013, in Addis Ababa, Ethiopia.

The Ethiopian Chapter of Women Entrepreneurs was founded by fifty Ethiopian women entrepreneurs gathered at the headquarters of Enat Bank. Samrawit Moges, current president of the Alliance for Women Entrepreneurs Ethiopia Chapter, told The Reporter that the launching coincided with the summit to increase promotion and communications. Add a comment Add a comment