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Debub Global Bank Share Company is to enter the Ethiopian banking sector in 2012. The Bank has raised 286 million birr in subscribed capital and 150 million in paid up capital through the sale of shares. 5481 shares have been presented to the National Bank pending signature and verification by shareholders according to an official at the Bank.

Debub Global Bank expects to concentrate its activities in the South of Ethiopia where there exists untapped potential for investment said the official. The shareholders of the bank understand the potentials in the South and are interested in engaging in investment and trade in the area explained the official.

Kabu Coffee has announced plans to market export standard Ethiopian coffee. The company has expanded its investment capital to 10 million birr for this venture.

Kabu is marketing high quality roasted coffee to international and domestic customers according to Aman Adinew company advisor. The company aimed to venture out in this direction from the outset he said.

Kabu strives to carefully control the quality of its ingredients to ensure the quality service promised by its slogan ‘Coffee Redefined’ said Aman.

Tsemex is set to provide large capacity water tanks to help resolve the water problem in Ethiopia.  The company plans to import water tanks with the capacity to hold 12,000 liters and custom designed tanks that can hold up to 10 million liters.

The Pioneer water tanks that Tsemex will import come in diameters ranging from 2.68 meters to 20.05 meters and with heights of 1.1 meter to 8.5 meter said Rezene Ayalew Managing Director of Tsemex.

Delbi Coal Mining Share Company is set to extract 30,000 tons of coal in Ethiopia. The company will be extracting coal from an open mining field in Jimma. Delbi plans to increase its production to 200,000 tons of coal in time. 

Delbi has extracted and sold an estimated 46,000 tons of coal since it began operating. The company has begun preparation for the mining project.

BGI Ethiopia paid an initial 45 million birr for the shares it acquired in Raya Brewery. BGI has agreed to pay 75 million birr for a 30% share of the brewery.

The partnership between BGI Ethiopia, an established beer producer in the country, and the new brewery is expected to make the two companies highly competitive on the national market.

Allana Potash Corp announced it has intersected to zones of strong potash mineralization on its potash concession in Ethiopia.

The company made known on Tuesday that a hole located on the Western part of its property intersected a strong Sylvinite Zone at a depth of 193.7 metres, yielding 32.02% KCI over 5.35 metres, including a high grade section from 195.2 to 197.7 metres of 43.85% KCI.

The Ethiopian Ministry of Water and Energy concluded a 2.4 million birr project to assess the Water Sanitation and Hygiene of Addis Ababa on the 1st of December as part of a national effort.

It is expected that the information gathered will play a crucial role in helping Ethiopia provide 100% water supply coverage.

The assessment included water supply for households, sanitary facilities, and the financial ability of households to pay the water rates. The inventory was carried out by data collectors trained from each area.

A 150% tax will be imposed on the export of semi-finished leather from Ethiopia as of this month according to the Ministry of Finance and Economic Development. The move is expected to encourage the export of finished leather and leather products.

The new tax was announced by a joint statement of the MoFED and the Leather Industry Development Institute.

A milk processing center was inaugurated in Oromia Regional State, Ethiopia. The processing center was constructed with the financial support of the Japanese government said a press release from the Japanese Embassy.

The Japanese Grant Assistance for Grassroots Human Security Projects provided 86,581 US dollars in funding for the project.

The Saudi Star Agriculture Development plc, has named Fikru Desalegn, former State Minister for Capacity Building as its new Executive Director. The retired minister took over, one of the largest agro-industry projects in Ethiopia, as of November 1st said Haile Assegide outgoing executive director and current Chief Executive of Derba MIDROC and Tossa Steel Mill.

The new Executive Director will oversee the agro-industry project launched by Saudi Star in Gambella Regional State. He is expected to mange the operation of the rice farm as well as direct the construction of two mills in Gambella and Bishoftu.