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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

United Insurance S.C has selected Ethiopian construction company, Zamra Construction PLC for a 140 million birr contract for the structural construction of its new headquarters building in Addis Ababa, Ethiopia. The agreement was signed on Monday, April 1, 2013.

The Building, with 12 storey and three basement floors was designed by Geretta Architects and Engineering , two years ago. United Insurance, which reported a 36.2 million birr profit after taxes, is fully financing the construction project. Add a comment Add a comment

,the largest individual shareholder of Raya Brewery SC, has acquired additional 70 million birr worth of shares. The value of his total share has reached 125 million Ethiopian birr. This purchase makes Dawit the second top shareholder in Raya, after BGI Ethiopia, which has 30 percent share.

The board of directors of Raya, chaired by Lieutenant General Tsadkan Gebretensae, is expected to announce the increase of the company's paid up capital from 300 million birr to 500 million birr at the fifth general assembly and fourth extraordinary meeting of the company.

The Ethiopian Standards Agency expressed its concern that few of its 121 mandatory standards are observed. Last Wednesday, Legesse Gabrie, director of the Standards Preparation Directorate of the Agency, told journalists that many companies are not complying with labeling and marking requirements of the Agency. Many of them are advertising irresponsibly, disregarding both voluntary and mandatory labeling and marking  standards of the country. Add a comment Add a comment

SA-MED Private Limited Company, a joint venture with the Italian Adriamed Medical Devices and Services announced, it has completed testing and trial production of a medical disposables manufacturing plant at Dukem, Ethiopia. The factory manufactures plastic IV fluid containers and giving sets.

Current production of plastic IV fluid containers and giving sets in Ethiopia is around 6 million containers per year while the demand for this medical disposables stand at 20 million, according to Seid Mohammed, partner and vice chairman of SA-MED.

Ethiopian Prime Minister Hailemariam Desalegn invited investors in East Africa to utilize suitable investment opportunities in Ethiopia. The premier extended the invitation during a discussion held in Nairobi with investor from East African countries.

Hailemariam invited investors to engage in priority sectors of of Ethiopia such as, manufacturing, textile, leather industry and horticulture. He said both the investors and the nation would benefit from investing in those sectors. Add a comment Add a comment

The Colorado-based MWH Global, an engineering, construction, and management company has  opened an office in Addis Ababa, Ethiopia, which the company said will serve as a center for its construction, engineering and administrative staff in Africa. MWH Global has been involved  in Ethiopian hydro-power projects since the 1970s.

The State owned utility company, Ethiopia Electric Power Company (EEPco) selected MWH Global as owner's engineers for the 300-MW Tekeze hydroelectric power station in 1998, and the company more recently provided similar services for the 254-MW Genale-Dawa Multipurpose Hydro-power Project.