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SouthWest Energy, an Ethiopian oil and gas company, announced the results of the Competent Persons Report (CPR), a study commissioned by the company and prepared by an independent consultant, Senergy (GB) Limited, for the company’s  Gambella basin block (an extension of the large oil producing Melut basin in South Sudan) and blocks 9A, 9 and 13 in the Jijiga basin, a part of the Ogaden basin in Ethiopia.

“I am very pleased to announce the results of the CPR by Senergy, which I consider a significant step forward for our company and a strong validation of our work to date,” Tewodros Ashenafi, Chairman and CEO of SouthWest Energy said on the press release on last Thursday.

The Ethiopian Public Private Consultative Forum (EPPCF) on the tourism sector was convened on April 8 at the Sheraton Addis. in the presence Ethiopian government officials and representatives of the private sector has attended the event.

The discussion at the forum discussed issues concerning the  challenges the tourism sector is facing  and recommendations on how to tackle these problems. Add a comment Add a comment

Tullow Oil, a multinational gas and oil exploration company headquartered in London, said it has found indications of the existence of oil with its concessions in the South Omo Basin, Southern Regional State of Ethiopia.

The company, in joint venture with Africa Oil (30pc) and Marathon Oil (20pc), began drilling a well in its Sabisa-1 bloc last January, 2013. Add a comment Add a comment

Ethiopia's state owned Metals & Engineering Corporation (MetEC) contracted Beyo PLC  for the assembly and delivery of heavy duty construction machineries. Beyo has received 43.5 million Ethiopian Birr for the  delivery of six assembled LIEBHERR dozer, two weeks ago. Beyo is contracted to assemble  components manufactured by the German based LIEBHERR, according to the terms of the agreement.

The imported components for each machinery will cost 6.8 million Birr. The blades, imported from Ukraine,  will be manufactured in Ethiopia.

Ethiopia is drafting a new building code to replace the existing one, adopted 18 years ago. The new code is to be modeled after European, U.S. and Singapore building codes.

The Ministry of Urban Development and Construction contracted the Addis Abeba Institute of Technology (AAIT), in January 2012, to draft the code for a fee of 2.6 million Br. A team of 50 professionals, including professors, contractors and architects from across the capital, have been working on the document. Add a comment Add a comment

Ethiopia's United Bank issued 18,514 unsubscribed shares for sell on a public auction the past week. The Bank earned 2.9 million Ethiopian Birr from the auction two weeks ago, bringing revenues 76pc above the  par value of the shares issued.

The bank added 25 percent to the initial par value of its shares. The highest bid per share came in at 176 Br. Add a comment Add a comment

A Singapore business delegation visited Ethiopia to explore investment opportunities in the country. At a press conference held on Tuesday, the business delegation discussed investment opportunities with the Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA).

“We haven’t exactly pinpointed specific areas where we will have investment agreements, but there are companies willing to invest in the areas the Ethiopian government is promoting such as Agro-processing and others,” said Mulu Solomon, President of ECCSA.

Tiret, an Ethiopian endowment fund is finalizing its new malt production plant in Gonder, Ethiopia. The factory is scheduled to go operational in June this year.

Gondar Malt Factory has been under construction for the past two years, on four hectares of land. The factory is expected to produce 16,200tns of malt a year, 12,000tns of which will be supplied to Dashen Brewery, one of the sister company in the endowment fund. Add a comment Add a comment

As part of The Coca-Cola Africa Foundation’s commitment to helping create sustainable communities, it announced today the launch of Replenish Africa Initiative’s (RAIN) Multiple Use Water Improvements project.

"At Coca-Cola, we recognize that by strengthening the communities we serve, we strengthen our business. We know that providing water access is an effective way of expanding social and economic opportunities for our communities. As part of our Replenish Africa Initiative (RAIN) we collaborate with partners from civil society and government to improve the access, sustainability and affordability of safe water in our communities," said Peter Njonjo, Coca-Cola General Manager for Eastern Africa.

The Ethiopian Fruit and Vegetable Marketing Enterprise S.C said it has started exporting mango to Djibouti. Senior Quality Supervisor with the Company Abumsa Ayele, said the Enterprise exports various species of mango grown in Assosa, Benshangul-Gumuz Regional State.

Accordingly, the Enterprise is exporting 380 quintals of mangoes a week to Djibouti. The Enterprise is also supplying the product to the local market. State Agriculture and Rural Development Bureau Expert Asres Mammo on his part said close to 300,000 quintals mango will be collected in the state this Ethiopian year.
Over 175 million birr is expected to be earned from the export, he added.

Source: Walta