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United Insurance, Ethiopia Selects Deputy Manager

Details
Published on 20 April 2012
Category: Banking and Finance

United Insurance SC, Ethiopia has offered the post of Deputy Manager of its Operations Department at double her 10,000 birr salary as Main Branch Manager, with Nib Insurance.

Zufan graduated in economics from Addis Ababa University and joined United Insurance where she worked for the next eight years before leaving to join Nib Bank.

Two of the top five management positions at United Insurance are filled by women with Zufan’s appointment making the third position to be occupied by a female.

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Ethiopian Metal Industry Facing Challenges

Details
Published on 19 April 2012
Category: Manufacturing

Representatives from Ethiopia’s metal industry discussed the challenges facing the sector at meeting held last week.

Challenges include price increases, power cuts, taxes, the supply of scrap metal, capital shortages and the monopoly of the Ethiopian Shipping and Logistic Enterprise had the Ethiopian Association of Basic Metals and Engineering Industries to call for a public-private dialogue forum to support the sector.

The competitive advantage of domestic industries is adversely affected by the 5% import duty imposed on scrap metal exports while the finished product is imported duty free according to participants at the meeting suggesting the lift of import duty or develop a duty drawback scheme for domestic industry.

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Inflation in Ethiopia Expected to Lessen to 10%

Details
Published on 19 April 2012
Category: Latest Business Alerts

The inflation rate in Ethiopia is expected to decrease to less than 10% by November according to Ethiopian Prime Minister Meles Zenawi.

It is expected that the inflation rate will continue to decrease according to the trend seen in March and is projected to reach single digits by November said Meles.

The annual inflation rate in Ethiopia slowed to 32.5% in March from 35.3% in February according to the Central Statistics Agency.

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Ethiopian Wind Power Potential Studied

Details
Published on 19 April 2012
Category: Energy and Mining

Ethiopia has wind power potential that could potentially generate more than one million MW of electricity according to a study.

The first draft of the master plan study carried out by Hydro China Corporation assessed the nation’s potential wind and solar energy said Xu Lushi representing the company.

Wind and solar energy has great potential to meet the growing energy demand and to reduce global warming he noted.

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Ethiopian to Export Wat

Details
Published on 19 April 2012
Category: Latest Business Alerts

Mamma Fresh Injera plc, Ethiopia has finalized preparations to export frozen Wat said Hailu Tessema, General Manager of the company.

The company is planning to export frozen chicken Wat and sauces to be used in the preparation of different types of Ethiopian foods explained Hailu.

Mama has been given permission from the United States Food and Drug Authority to begin exporting its products to the United States market after the agency carried out its testing he explained.

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Ultimate Plan Wins Design for Ethiopian Church Conference Hall

Details
Published on 18 April 2012
Category: Construction, Steel and Cement

Ultimate Plan Private Limited Company and UK firm Aedas won the bid for an architectural design re-tender for the mega conference hall for the Ethiopian Orthodox Church.

The conference hall, with an expected capacity of 13,000 seats, will be constructed at the Ethiopian Orthodox Church Patriarch’s palace in Arada district. The hall is planned to be powered by solar energy and will host outside facilities such as access roads, footpaths and landscaping.

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Ethiopian Airlines to be First in Africa to Operate Dreamliner

Details
Published on 18 April 2012
Category: Latest Business Alerts

Ethiopian Airlines, Ethiopia’s flag carrier, will be the first airline in Africa to operate the 787 Boeing Dreamliner according to Tewolde Gebremariam, Chief Executive of Ethiopian.

Tewolde took a tour of the first Dreamliner expected to arrive later this year when in Seattle to discuss the delivery with Boeing executives in Seattle according to a statement made by the airline.

Tewolde met with Jim Albaugh, President and Chief Executive of Commercial Airplanes as well as Larry Loftis Vice President and General Manager of the 787 and other program managers to discuss the airlines first delivery and received an update on the Dreamliner program and production explained the statement.

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Ethiopian Cotton Growers Call for a Designated Authority

Details
Published on 18 April 2012
Category: Latest Business Alerts

Cotton growers in Ethiopia called for the establishment of a federal authority designated to address the industry at a consultative meeting with the representatives from the Ethiopian Institute of Agricultural Research and the ministries of Agriculture and Industry.

Their proposal was supported by representative from the textile factories, agriculture experts, entomologists, chemical and pesticide companies.

The need for a designated federal authority is due to complaints that the Ministry of Agriculture bureau designed to handle agriculture investment has been unable to address the issues affecting the industry.

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Ethiopian Enterprise to Relocate Abattoir

Details
Published on 18 April 2012
Category: Latest Business Alerts

The Addis Ababa Abattoirs Enterprise, Ethiopia is planning to move the Kera abattoir from Kirkos District to a new plant in Akaki Kaliti District. The announcement was made last week inviting bidding for consultant services to undertake a feasibility study and operational planning study for relocation.

The bid document explains that the move is designed to facilitate the improvement and modernization of the slaughtering services offered by the abattoir to meet the growing demand.

The move anticipated for the past 15 years will be funded by a 900 million birr soft loan from the Agence Francaise de Developpement.

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Ethiopia to Launch New Health Insurance Program

Details
Published on 17 April 2012
Category: Latest Business Alerts

Ethiopia is to introduce a new health insurance program ratified by the House of People’s Representatives last summer. The new program will include organizations which already provide health insurance for their employees.

Permanent employees of private, governmental and non governmental organizations will contribute 3% of their salary to take part in the new health insurance program. Although organizations will be allowed the option to provide another type of health insurance they will have to participate in the program unless they have less than ten employees.

The health insurance program will be effective across the country will include coverage for families as well.

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