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Dr Eleni Gebre-Medhin, founder and Chief Executive of the Ethiopia Commodity Exchange is transitioning out of the leadership role effective as of the 30th of September announced the ECX.

The transition is part of carefully implemented succession plan which aims to ensure a smooth transition as the team of internationally recruited management professionals, in charge of the ECX since April of 2008, handovers responsibilities to locally recruited and trained leaders said Dr. Eleni at a press conference.

The locally recruited team, which will take over senior management positions, is highly capable and has been with the ECX since the exchange began operations she said.

The first workshop designed to enhance cooperation between Ethiopia and India to bolster cooperation in enhancing the product, design and quality of the leather sector in Ethiopia was held this week.

Ethiopia has the largest resource of livestock in Africa which can serve as a reliable source of raw materials for the leather sector said the representative of Tadesse Haile, State Minister for Industry.

The country is not getting as much benefits from the sector in terms of exports and employment creation because of a range of challenges including lack of know how, technological deficiency, and limited market access said the Minister through his representative.

Dream Light Solid Waste Management plc, Ethiopia received the World Business and Development Award, 2012 announced a joint press release by the United Nations Development Program and the Ethiopian Ministry of Finance and Economic Development.

The 2012 World Business Development Award was given to eleven companies from Brazil, China, Ghana, Denmark, India, Kenya, the United Kingdom and the United States in the categories of small and medium sized enterprises and large organizations.

The winning companies were recognized at a ceremony held to conclude the Business Action for Sustainable Development Business Day that took place as part of the UN Conference on Sustainable Development- Rio+20.

Ethiopia has earned more than 368 million US dollars from the sale of traditionally mined gold in the first ten months of the current Ethiopia financial year according to the Ministry of Mines.

The revenue was earned by an estimated 6700 kilograms of gold supplied to the National Bank of Ethiopia said Bacha Fuji, Director of Public Relations with the Ministry.

The revenue earned this reporting period has increased by more than 125.1 million US dollars in comparison to the revenue earned during the same period last year he said.

The Ethiopian Postal Service Enterprise, Ethiopia’s sole mail carrier has won two bronze awards from the Universal Postal Union it announced.

The enterprise won the first award for its efficient Emergency Message Service according to Ziyen Gedlu, Head of the Communications work process with the EPSE.

The second award was given in recognition of the enterprise establishing a mechanism for complaints management said Ziyen.

The award will help the postal service to enhance its competitiveness she noted.

The first phase of the expansion work on the taxiway of the Bole International Airport, Ethiopia was completed said the Ethiopian Airports Enterprise. The project was completed at a total cost of 1.1 billion birr.

The expansion project was intended to enhance the airport’s capacity to meet air traffic flow said Wondim Teklu, Head of Public Relations and Communications Service with the EAE.

Bole International Airport is able to offer service to 34 aircraft simultaneously following the completion of the first phase of expansion. The airport currently services up to 110 aircraft a day making it one of the busiest airports in East Africa according to sources.

Tecno Mobile Ethiopia is set to release the first domestically assembled smart phone next month for an estimated price of 6000-8000 birr.

The new smart phone branded Tecno T3 supports the Google Android 2.3 smart phone operating system. Android is a Linux-based operating system used in mobile devices including smart phones and tablet computers.

Tecno is studying the market to decide on the market price for the new product according to Henry Yu, General Manager of Techno Ethiopia.

Abay Bank, Ethiopia announced finalizing the interconnection of its 22 branches to launch CORE banking solutions. The software technology was installed by the US firm Oracle Financial Service Software.

The software connects the branches with the Head Office through a Wide Area Network which will serve as a base to implement the CORE banking system. The system is designed to adapt to the fast growth in the financial sector allowing easy connectivity and third part networking.

Ethiopia expects to inaugurate the first industrial zone under management by the Industry Zone and Environmental Protection Agency in the coming September.

The Bole Lemi Industry Zone located on 156 hectares is planned to be completed in time for the Ethiopian New Year and will be opened to domestic and international developers said Melaku Taye, Head of Public Relations with the Ministry of Industry.

The MoI has also received more land from the Addis Ababa City Government and from regional states to develop and manage other industrial zones he said.

The city administration of Ethiopia’s capital Addis Ababa has announced the new per m2 prices for land lease in the city. The city revised the existing lease rate as per the current market price it was learned.

The new prices will serve as a benchmark for land being auctioned by the city and for former private holdings being transferred to the lease system as per the new Urban Lands Lease Holding Proclamation.

The new directive divides land in the city into three zones according to their proximity to the center.