2merkato

The top management of the Ethiopian Commodity Exchange, including the Chief Executive, handed over the reins to the new management team under Anteneh Assefa.

The official transfer ceremony was marked when Dr. Eleni and Anteneh rang the bell to start the day’s trading on the commodity market together.

The five members of the top management team handing over their duties include Dr. Eleni Gebemedhin, founding CEO of the exchange, Ahadu Wubishet, (Operations Officer), Bemnet Aschenaki, (Strategic Officer), Solomon Edesso (Information Technology Officer), Sirak Solomon (Compliance Officer).

China is to partner with Ethiopia in the renewable energy sector according to Wondimu Tekle, Minister of State for Water and Energy.

It is expected that China will assist Ethiopia in its efforts to develop the renewable sources said Wondimu.

Ethiopia has the estimated potential to generate 60,000 MW of electricity of which 45,000 MW is expected to come from hydro power and 15,000 MW from other renewable energy sources such as geothermal, solar and wind power.

The Ethiopian Sugar Corporation is working to enhance the capacity of its leadership and executives to support the development of projects in the country announced the Corporation.

Developing the capacity of executives is important to develop the sector noted Abay Tsehaye, Director General of the ESC at a training organized for leaders and experts of the corporation.

The training was designed to focus on areas such as development, sugar development, globalization and Kaizen management.

Ethiopia is successfully enhancing alternative energy technology announced the Ministry of Water and Energy. State energy bureaus are collaborating with the ministry to introduce the use of fuel saving stoves among the public in rural areas said Bizuneh Tolcha, Director of Public Relations and Communications with the ministry.

The ministry has been able to distribute more than 3 million stoves in the last two years out of a total of 9 million planned to be distributed in the 5 year development (Growth and Transformation Program) plan he said.

The fuel efficient stoves save time and labor as well as eliminating health combinations which is why much attention has been paid to the distribution of stoves noted Bizuneh.

The Minister of Industry, Mekonnen Manyazewal said, the government will concentrate on improving the capacity of foreign trade investors both in terms of quality of exports and earnings in conference organized jointly with the Ministry, Ethiopian Development Research Institute and Japan International Cooperation Agency (JICA) on Thursday.

On the half day consultative forum, the Minister said, enhancing capacity of domestic export producers is among the government’s priority areas and the government will further its incentives through coordinated support and promotion to raise quality of export produce and earnings.

Nyota Minerals announced that the Definitive Feasibility Study for its Tulu Kapi project in Ethiopia is progressing well and is still expected to be completed in next half of the year.

Nyota has submitted some technical elements of the ongoing DFS to the Ministry of Mines to support its application for a mining license according to the report.

The company said that the ongoing infill drilling program planned to convert a further 260 thousand ounces of inferred resources to the indicated category is now 90% complete.

Ethiopia has earned more than 112.1 million US dollars from the export of leather and leather products during the just ended financial year said the Leather Industry Development Institute.

The revenue obtained in this reporting period is 7.8 million US dollars more than what was earned in the previous financial year explained the press statement from the institute.

An estimated 51.5 million US dollars of the total amount of revenue earned was acquired from the export of processed leather explained the statement. 

The Addis Ababa city administration is to import ten modern street cleaning machines to help clean the streets of the Ethiopian capital.

The agency has received an offer of 37 million for the supply of the machines after floating an international tender a few months ago according to Getachew Ambaye, General Manager of the City Administration.

The administration is still in the process of evaluating the proposals he noted. The machines are expected to clean the major roads and places that are difficult for human cleaners to clean said Getachew.

Ethiopian livestock arrived in Qatar offering excellent taste and quality for the company’s clients according to Mawashi, Qatari livestock company.

Mawashi is importing stock directly from Ethiopia for the first time by air cargo as part of its aim to guarantee high standards of quality and freshness.

It is to be remembered that Ethiopia earned 213 million US dollars from the export of meat and livestock in the first ten months of the previous fiscal year according to the Ministry of Agriculture.

Ethiopia has procured pharmaceuticals and medical equipment worth more than 5 billion birr in the just ended financial year according to the Ethiopian Pharmaceuticals Fund and Supply Agency.

The purchase includes more than 300 types of medical and pharmaceutical supplies including chemical, antibiotics and equipment said Yared Yigezu, Director of Procurement Forecast and Capacity Building with the agency.

Significant medical equipment including an MRI and digital mammography are amongst the purchases in the reporting period he explained.