2merkato

The sister financial institutions, Nib International Bank and Nib Insurance are launching a soil test to determine a construction site for their joint headquarter buildings.

The buildings are to be constructed on a 3000 m2 plot of land leased near the National Theater in Addis Ababa. The building will be 33 storey high with four sub-terrain floors according to the design approved said Tafesse Bogale, Chairman of the board of directors of the bank.

The design for the building was executed by Haile Gabriel Consult Architects and Engineers selected by the Nib management after a design competition. Nib management and the consultants have declined to disclose the development of the project.

Agriterra’s legacy oil interests in Ethiopia are estimated at 2.7 billion barrels according to a new report. he projected figure is a best case gross un-risked estimate derived from an independent review carried out on the South Omo concession according to African Oil which is a partner in the venture.

Agriterra has 20% state in the concession and Africa Oil owns 30% while Tullow Oil owns the remaining 50%.

It is to be remembered that Tullow has already made oil discoveries at the concession it is prospecting in Kenya and which is located in the same system as South Omo.

Aviation Industry Corporation of china is expected to launch expansion construction on the maintenance hangar at Addis Ababa Bole International Airport at an estimated cost of more than 95 million US dollars.

The design for the expansion has been completed and the project is at the soil testing stage at present.

The maintenance hangar will serve to  service a range of aircraft from the Ethiopian Airlines fleet including  the Dreamliners aircraft, 777 airplanes and 747’s according to Tewolde Gebremariam Chief Executive of the Airline.

IT Solutions and IT training service provider Techno Brain achieved Cisco Certified Status in Ethiopia and four other East African countries: Kenya, Tanzania, Rwanda and Uganda.

The certification allows the IT firm the opportunity to develop stronger relations with Cisco in the field of sales which directly interacts with customers.

The certification is testament to a strengthened credibility among customers and Cisco sales team have access to a wealth of program and support services from the company according to Ricardo Moreno, Senior Director for Strategy Planning and Programs for Cisco Worldwide Partner Organization. 

Ethiopian Airlines is planning to begin flights to the South Eastern Nigeria city of Enugu. The airline will begin offering flights to this destination as part of its plans to increase its destinations to Africa’s most populous country.

The airline has plans to fly to a range of destinations in Nigeria including to the Southern Central Port City Port Harcourt, Kano the largest city in Northern Nigeria as well as increasing the number of flights to the capital, Abuja according to Tewolde Gebremariam, Chief Executive of Ethiopian.

The airline wants to increase the number of flights to Abuja because the Abuja-Addis-Asia route and the Abuja-Addis-Dubai-Bangkok-China route are currently the best flight options for passengers flying to Nigeria he said.

Ethiopia launched a Climate Resilient Green Economy Facility that is expected to equip the nation with a credible instrument meeting international fiduciary standard and requirements for Measuring, Reporting and Verification.

The launch presided by Ahmed Shide, State Minister for Finance and Economic Development was attended by government officials, developmental partners and UN agencies.

The facility is expected to support a strategic approach to climate policy and offer technical and financial support to issues related to climate change reducing the cost and duplication associated with a project centered approach said Ahmed.

The Ethiopian Commodity Exchange Authority is prepared to establish three branch offices in the regional cities of Gondar, Jimma and Harrar in the current fiscal year.

The branch offices will be in close proximity to warehouses in regional areas that are operated by the Ethiopian Commodity Exchange with the aim of assisting supervision by the management in Addis Ababa.

The plans to construct the three branches were developed in the previous financial year through a mandate given to the exchange as part of the proclamation that established the authority.

The Ethiopian Revenues and Customs Authority is to launch a toll free call center worth 3.4 million birr to be based in the authority’s headquarters.

The call center is expected to transform the process of tax collection and administration. The call center installed by Tanzanian Techno Brian will be able to entertain 30 calls at the same time.

The authority has trained a dozen people, each specializing in specific tax issues to answer inquiries raised by tax payers who call in.

Ethiopia is to invite international consultants to perform a study to facilitate the transformation of the newly corporate Ethiopian Shipping Lines and Logistics Service Enterprise.

The government has already prepared the bid documents and the Term of Reference to be made public in three weeks according to sources.

The study is expected to strengthen the management of the new enterprise to achieve a higher level of competence said the sources.

Ethiopia was placed in the bottom five countries on the World Wide Web Foundation’s Web Index according to a survey which ranked 61 countries on a range of criteria including the number of people online and the amount of useful content available.

The Index measures the economic, political and social impact the Internet has made on the countries.

The survey was intended to fill a need for uniform and publicly available date comparing countries and identifying areas for improvement according to Tim Berners-Lee, the inventor of the World Wide Web.

The most basic question asked if people were actually connected and if they had hardware to access the web he said.