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More than 550 foreign and domestic investors with over 8.5 billion Birr combined capital are undertaking various projects in North Shoa Zone, Amhara Regional State in Ethiopia during the current Ethiopian fiscal year, the zonal industry and urban development department said.

Department Head, Dawit Yeshitila told Ethiopian News Agency, the projects include, agro-industry, construction, metal work, hotel and tourism. Add a comment Add a comment

Ethiopian government has dropped plan to tax dividends which remain undistributed to shareholders. Tax on dividends should only be paid after part of the net earnings are paid to shareholders, Sufian Ahmed, Minister of Finance & Economic Development, said reassuring the business community attending the annual Public-Private Dialog, held at the UNECA, on Thursday, June 27, 2013.

Ethiopia's United Bank awarded a contract to the Lebanese-based Computer Business Machine (CBM), for the supply of 50 Automated Teller Machines (ATM), two weeks ago.

Both CBM and United have refused to disclose the price at which CBM is offering to supply the machines, due to a confidentiality agreement.

The Ethiopian Civil Aviation Authority (ECAA) is planing to deploy radar for Area Navigation Surveillance which improves safety and increase the Airport's efficiency.

The system is expected to be operational within six months, according to Bizuayehu Assefa, Director for Air Traffic Service with the Authority. Add a comment Add a comment

Saudi Cargo has announced plans to start transporting meat from Ethiopia to Europe by the end of 2013. It has selected five Ethiopian exporters; Hashim Nuru Slaughter, Luna Expert Slaughter House, Modjo Modern Export, Elfora Agro Industry and Export and Organic Abattoir Slaughter for the operation.

The companies already have a business relation with Saudi Cargo and are selected  for their performance in exporting meat to Saudi Arabia, according to Kassahun Kenna,  Cargo Sales Manager with Saudi Cargo. Add a comment Add a comment

Ethiopia's Berhan International Bank has joined Premium Switch Solutions (PSS), with the acquisition of 4.8 million Ethiopian birr worth of shares.

Berhan Bank was officially welcomed into the partnership at a ceremony at the Hilton Hotel, on Thursday, June 27, 2013. Berhan can now access a network of 60 ATM machines owned by PSS and leased to the three original founding banks. It will also have access to the services of the 200 ATMs that are expected to be procured by Awash, Nib and United banks in the coming year.

Ethiopian Kaizen Institute awarded nine enterprises for excellence in ‘Kaizen’ implementation, a Japanese business philosophy of operational excellence.

At a ceremony held today at Sheraton Addis, Wonji Shewa Sugar Factory, Metehara Sugar Factory and Addis Modjo Edible Oil Complex received the excellence award from Mekonnen Manyazewal, Industry Minister. Speaking on the occasion, Mekonnen said efforts to properly implement Kiazen methodologies in all industrial institutions will continue. Getahun Tadesse, Director General of Ethiopian Kaizen Institute said Kaizen methodologies are being implemented in 108 institutions across Ethiopia. Add a comment Add a comment

Nicon PLC, an Ethiopian transit and cargo company, has announced plans to establish electric bicycles assembly plant in Ethiopia.

The company has secured land for the plant at a cost of 10 million Ethiopia birr and says it will start producing Ethiopian made bikes within a year. Add a comment Add a comment

ThermoHelix, a Canadian company that manufactures power generation systems from solid waste and sludge, announced plans to finance and erect a Waste-to-Energy plant in Ethiopia.

The company has already submitted its proposal to the Ethiopian Electric Power Corporation (EEPCo) and Addis Ababa City Administration to engage in the waste energy project back in December 2012. Add a comment Add a comment

This past week, Consumer Insight, a pan African research company in partnership with 251 Communications, an advertising agency based in Ethiopia, released its research study on Ethiopian women lifestyle, as identified by a survey of 555 women of all ages and income levels.

The study features women living in the Capital, Addis Ababa. The respondents were asked about their aspirations, product usage and media consumption. Add a comment Add a comment