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The World Bank and African Development Bank will provide 80 percent of the funds needed for a USD 1.26 billion transmission line that will take power to Kenya from Ethiopia.

The World Bank will lend the countries USD 684 million for the 1,070 KM transmission line running from Wolayta-Sodo in Ethiopia to Suswa, 100 KM Kenyan, African Development Bank Regional Director Gabriel Negatu told reporters. The African Development Bank is lending USD 338 million, he said.

The Catering and Tourism Training Institute (CTTI) under the Ethiopian Ministry of Culture and Tourism (MoCT) is organizing a tourism and hospitality week for the first time. Officials of the institute indicated that the event will be held for three days from May 21.

Dawit Haile, director of CTTI, said that the event will help to promote the quality of the service that the institute offer. According to the organizers, CTTI students and other stakeholders, including tour and travel companies and hotels, will have a role in the event. Add a comment Add a comment

Total Ethiopia in collaboration with the Labor and Social Affairs Bureau of the Addis Ababa city Administration, celebrated the ‘World Day for Safety and Health at Work’ on April 26 at Dreamliner Hotel.

The event's theme was “Total commitment to Safety for ME, for YOU, for ALL”, incorporated workshops attended by the management, employees, fuel transporters, contractors, customers and service station dealers to create awareness on accidents in Ethiopia. Add a comment Add a comment

The Ethiopia Commodities Exchange (ECX) is reduced the expiration date of warehouse receipts issued for coffee from  30 days to  20 days as of May 9, 2013.

The ECX governing body, Ethiopian Commodity Exchange Authority (ECEA) has approved the change with others relating to moisture adjustment, the amount that should be contained in a bag, and the cost of handling goods.

ECX introduced these changes following a series of studies it undertake during the current year based on transaction data from the past 18 days, according to Anteneh Assefa, CEO of the Exchange. The study revealed that 50pc of members storing coffee at ECX warehouses make a sale within eight days and 90 percent of members within 20 days.

The Commercial Bank of Ethiopia (CBE) began demanding its clients pay the entire amount up-front when using Cash against Document payment arrangement.

In Cash against Document (CAD), the process of collecting the settlement and releasing the documents is usually entrusted to a bank as a trusted third party. Banks release title documents to clients, after exporters ship the goods and clients effect payment. They will then transfer this payment to the seller in a foreign currency. Add a comment Add a comment

The Ethiopian Commodity Exchange has postponed the bid opening date for 30 membership seat tender floated exclusively for farmer's cooperatives, to May 16, 2013. The original bid opening date was set for April 31.

The reason given by Exchange is to encourage more participation by farmer's cooperatives. ECX is expecting 200 farmer's cooperatives to participate, according to Abenet Assefa, Chief Strategy Officer at the Exchange.

The Ethiopian Ministry of Culture and Tourism is finalizing a new standard for the hotels, catering and tourism sector.

"we will be undertaking the pilot project on selected hotels, restaurants and lodges" said Tewodros Deribew, Tourism Services Competence Accreditation director at the Ministry. Add a comment Add a comment

Awash International Bank, an Ethiopian private bank, is expected to announce the winning bidder for the supply of 100 Automated Teller Machines and 80 point of sale terminals.

Six companies has participated in the bid, including M2M Group, a Morocco based company represented in Ethiopia by MOTI Engineering PLC; Copy Cat, an Indian company with Office in Ethiopia; and CBM represented by SSC in Ethiopia. Add a comment Add a comment

Ethiopia has earned USD 89.75 million in revenue from leather export during the current Ethiopian Fiscal Year, according to Leather Industry Development Institute (LIDI).

LIDI Corporate Communication Director, Berhanu Serjebo, told WIC that about USD 74.65 million of the total from the total revenue was secured from finished leather products. Add a comment Add a comment

Ethiopian micro finance institution, Dedebit Credit and Saving Institution S.C (DECSI) reported it has disbursed 728.5 million Ethiopian birr loan during the past nine months.

Company Operation Manager, Yonannes Gebremeskel, told Walta Information Center, the loan was disbursed to individuals engaged in Small and medium enterprises. Add a comment Add a comment