2merkato

The 15th conference of the Cooperation of Urban Mobility in the Developing World was launched in Ethiopia this week.

The conference is being held under the theme of the ‘Role of Urban Mobility in (Re) Shaping Cities.’The conference comprises of a range of different activities including a photo exhibition according to sources.

The conference is intended to showcase the transport and urban development activities taking place in the country said Engineer Fekade Haile, General Manager of the Addis Ababa City Roads Authority.

The Ethiopian Prime Minister Haile Mariam Dessalegn held a consultative meeting with domestic and international investors in Addis Ababa this week according to the Ministry of Industry. The PM met with investors engaged in the production of raw materials for the industrial and agricultural sectors it was noted.

The meeting is expected to help set the directions for investment and to enhance the performance of the sector by identifying the challenges and appreciating the achievements said Mekonnen Manyazewal Minister for Industry.

The talks are also intended to affirm the governments continued commitment to implement the goals of the national development plan and the recognition it has of the invaluable role that is placed by investors in the realization of this plan he added.

The Municipality of Addis Ababa revised the tariffs it had established for sewage disposal. The Addis Ababa City Water and Sewerage Authority has been offering this service for 69 birr levied on households for the past 15 years but has now increased the charge to 176 birr.

The increase in the tariff due to the current revision is an estimated 155% making the revision a considerable one according to sources.

The rate charged by private operators for the same service has gone up from 196 birr to 500 birr it was learned.

Ethiopia and Zambia are working on developing bilateral relations said Francis Simenda Zambian Ambassador to Ethiopia.

The two nations are taking measures to enhance existing relations he explained speaking at an event organized in Addis Ababa to commemorate the 48th Anniversary of Zambian Independence.

Ethiopia and Zambia have agreement on diplomatic, economic and technical cooperation which were recently signed into effect said Simenda.

The Roads Authority of Oromia Regional State, Ethiopia has begun to hand over 366 Sino trucks with the required spare parts worth an estimated 367.7 million birr to contractors leasing the vehicles for the Universal Road Access Program.

The Roads Authority placed the order for the trucks from CGCOC Hansom Bejing Trading Co. Ltd three months ago. The order was placed with the aim of helping contractors in need of heavy duty vehicles to move materials through hilly and stony terrain explained Chala Hordofa, General Manager of the ORA.

The contractors are expected to pay for the cost of the trucks over four years at which time the authority will transfer full ownership of the trucks to the private operators.

The Ethiopian Electric Power Corporation is seeking an alternative financier for the construction of the Chemoga Yeda Hydropower Plant being constructed in the Amahara Regional State.

The power corporation is seeking alternative financing because the project is behind schedules due to financial constraints according to sources.

Initial projections established by the contract signed between the EEPCo and the Chinese Sinohydro Corporation that the project would cost 555 million US dollars to completion. The project was intended to be carried out in two stages generating a total of 278 MW when its complete.

Ethiopia is seeking an additional loan of 300 million US dollars in financing for the last stretch of the Awash-Woldiya-Mekele Railway Project, from the government of India.

The new loan will be in addition to the original 300 million US dollars promised by Indian Prime Minister Manmohan Singh.
Discussions to negotiate the conditions of the loan arrangement are underway between the governments of the two countries according to Genet Zewdie, Ethiopian Ambassador to India.

Contracts for the construction of two out of the three sections included in the railway construction project have been awarded to Turkish and Chinese companies.  The  China Communications Construction Company is in charge of building the Mekele-Woldiya section while the Turkish company Yapi Merkezi Construction was awarded the Awash to Woldiya section of the Tadjourah railway.

Kaizen Ethiopia awarded the ‘Kaizen Award’ to three Ethiopian companies for the first time. The three companies which received the award are Kadisco Chemical Industry, Zenith Gebse-Eshet Ethiopia Ltd and Maru Metal Industry.

The companies were awarded for showing the most significant improvement in productivity through utilizing the Kaizen Philosophy.

The three companies were selected from a highly competitive pool because of the notable improvement seen in the quality of their products, increased productivity, improved safety conditions and the enhanced relationship between management and employees said Gethaun Tadesse, Director General of Kaizen Ethiopia, speaking at the awards ceremony held at the Ethiopia Hotel earlier this week.

The Indian oil producing Pongamia tree is being marketed under the trademark ‘Vayusap.’ The plant promoted as a Wonder plant is being marketed by the Vayugrid Marketplace Services plc.

The strain being marketed in Ethiopia is a high yield, genetically selected form of the Pongamia plant resistant to a range of negative weather conditions and is tolerant to poor quality soil types according to Vayugrid.  

The oil from the plant has a range of potential uses in the production pharmaceuticals and bio fuels explained Douglas M. Petersen, Chief Executive Officer of Vayugrid Marketplace Services.

The National Insurance Company of Ethiopia registered 25.2 million in profit before taxes for the previous financial year. The profits recorded by the insurer have increased four times over in the last twenty years according to sources.

The company’s before tax returns had been no more than 5 million birr in the past years according to Tewdros Bogale, Deputy General Manager of Corporate Affairs with the NICE.

The insurance company’s net profit after taxes was nearly 18 million birr enabling it distribute 1096 birr per share to its shareholders.