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ESLSE is asking importers to collect their containers on time to alleviate congestion at the dry ports in Ethiopia. The congestion is becoming a problem for the implementation of the new Multi-modal Transport System according to Ahmed Tusa, Chief Executive of the ESLSE.

The system is being implemented but the problem is collecting containers accumulated at Port Djibouti. The Enterprise has been forced to construct a terminal of Bekelcha Transport S.C. located in Adama that has the capacity to store 9300 containers because of the congestion.

Containers from Djibouti will be handled at Bekelcha beginning this week according to Ahmed. Add a comment Add a comment

The Ethiopian Shipping and Logistics Service Enterprise is undertaking a study on potential new routes to deploy its new ships.

The enterprise decided to service more destinations after taking charge of nine new vessels it had on order in China, said Alemu Ambaye, Chief Engineer, Deputy Chief Executive of the ELSE. The nine ships are one multipurpose cargo and oil tanker vessel from the total of its nine vessels, two tankers and seven multipurpose cargo vessels he said.

The carrier is currently focusing on routes to Asia using arrangements with other shipping lines to serve import and export business in other parts of the world. Add a comment Add a comment

Ethiopian Cotton Production has fallen short of the requirements of the sector by tens of thousands of tons according to the Ethiopian Cotton Producers Ginners and Exporters Association at the General Assembly held at the Sheraton Addis Hotel.

In spite of the lift of the export ban the Ministry of Industry gives priority to local demands. This means that growers will require approval from the Textile Industry Development Institute and the Ministry of Agriculture to export to a still weak international market.

The meeting was attended by Tadesse Haile, State Minister for Industry, and Wondirad Mandefro State Minister for Agriculture. Add a comment Add a comment

Ethiopia reduced duties on imported materials for the textile and garment sector according to Sufian Ahmed, Minister for Finance and Economic Development.

The decision was made a meeting arranged between Sufian, and Mekonnen Manyazewal, Minister for Industry as well as senior representatives of the Ethiopian Revenues and Customs Authority, the Textile Development Institute and the Ethiopian Textile and Garment Association

Duties on imported textiles were reduced to 20 percent from 35 percent for garment manufacturers while no duties will be suspended for all imported spare parts required by textile and garment manufacturers.

Ethiopian company Addis Prefab Houses Manufacturing Industry won a 53.3 million US dollar contract from US based New Orleans Consultancy to construct 888 prefabricated houses in South Sudan.

The contract was signed in Addis Ababa between Yonas Tessema, General Manager of New Orleans Consultancy and Fikremariam Alemu, Chief Executive of Addis Prefab. The agreement between Addis Prefab and New Orleans was two months in the making.

Addis Prefab will receive the first half of the total payment upon submitting a pro forma invoice and will receive the difference upon delivery. Add a comment Add a comment

The Ethiopian Shipping and Logistics Services Enterprise has completed the first phase of its restructuring program. The first phase of the restructuring program concentrated on bringing together the three maritime enterprises according to Ahmed Tusa, Chief Executive Officer of the enterprise.

The incorporation and reconstruction of the new enterprise was handled through its own capacity according to several studies said Ahmed.

The enterprise was restructured into four sub-divisions to be led by four deputy Chief Executive Officers. The four sectors are ‘Freight Forwarding, Shipping and Transport Sector, Port and Terminal Services Sector, and Supportive Sector explained Ahmed.

The first three sectors were already functioning as independent organizations or since the new enterprise with the exception of the Supportive Sector he noted.

Messebo Cement Factory is to introduce a new product to supply Low-Heat, High-Sulfate Resistant Cement intended for large projects.     

The cement is particular intended for large project such as the construction of dams because it has unique crack-resistant characteristics important for the construction of infrastructural projects such as dams.

This type of cement used to be imported at significant foreign currency expenditure according to sources.

Ethiopian Electric Power Corporation has given its clients the option to import their own transformers so as to access high voltage power quickly.

EEPCo gave its clients this option because it does not have enough transformers to meet the demand leading to constant delays according to sources.

The corporation has offered to options for its clients, to wait for it supply the transformers or to import the components on the basis of EEPCo’s specifications said Misikir Negash, Public Relations Head for the Corporation.

The Cooperative Bank of Oromia, Ethiopia announced that it has recorded a 139.8 million in gross profit in the last fiscal year.

This profit recorded is 105 percent more than the 71.5 million birr it earned in the previous financial year as announced at the Regular General Assembly the bank.

The bank was able to net 102 million birr and Earnings per Share grew by 55 percent from 29 birr to 45 birr for every 100 birr invested from what was recorded in the last fiscal year. CBO has announced a dividend payment of 33.6 percent for the reporting period. The bank retained 25.5 million birr as a legal reserve.

The 19th Addis Trade for Development and Christmas Festival and Trade Fair and Bazaar was opened at the Addis Ababa Exhibition Center and Market Development Enterprise.

The bazaar organized by Century Promotion Services at a total estimated cost of 5 million birr will continue until the eve of Ethiopian Christmas.

More than 310 domestic and 38 international exhibitors are taking part in the event. It is expected that more than 20 thousand visitors will visit the exhibition which has a 10 birr entrance fee.