2merkato

Ethiopian products were dominate at the second ISE Construction and Housing Exhibition held from the 12th-16th of January in Ethiopia. Fifty local and international exhibitors were represented at the exhibition.

It took two months to organize the exhibition which aimed to correct mistakes made in the first one and to include a wide range of industries with a majority of participants being from the construction industry explained Mekdela Mekuria, Marketing and Outreach Executive at Lexicon Promotion Service plc.

Kaliti Metal Products Factory, Ethiopia is set on an expansion project estimated to cost 60 million birr. The factory has been challenged to meet demand because of outdated machinery according to Kassa Assefa, Market Research and Advertising Senior Expert with Kaliti. 

The expansion project was originally designed to be a two phase project costing 138 million birr and encompassing pipeline supplies but was scaled down to only make a smaller pipeline and the manufacture of EGA sheets for roofs and the purchase of one roofing crane.

The Ethiopian Chamber of Commerce and Sectoral Association announced a decision to share its headquarters with four other associations. The newly elected board of the chamber in Ethiopia made the decision that solved a contentious issue between the ECCSA and the Addis Ababa chamber.

The four associations to share quarters with the ECCSA are the Addis Ababa Chamber of Commerce and Sectoral Association, the Addis Ababa Sectoral Association, Oromia Chamber of Commerce and Sectoral Association and the National Sectoral Association.

The Revenues and Customs Authority of Ethiopia is to conduct the second phase of the business survey to register more taxpayers in Addis Ababa. The tax authority will begin the survey as soon as it receives a go ahead from the City Administration according to officials.

ERCA plans to survey 23,000 businesses in Addis Ababa in the second phase of the survey expected to commence in two weeks.

Ethiopian Airlines, Ethiopia’s flag carrier, failed to sell a Boeing 725 aircraft at an auction which listed the aircraft for 80,000 birr. The airplane is being auctioned for the breach of a maintenance contract between Ethiopian Airlines and owners Trans-Saharan Airlines. 

Ethiopian Airlines requested the High Court to postpone the sell because only seven bidders took part in the auction.

The Ethiopian Electric Power Corporation is working to address the persistently increasing demand for power in Ethiopia announced Miheret Debebe Chief Executive Officer of the Corporation.  

It is expected that electric coverage in Ethiopia will reach 75% in five years when the country is able to generate 8000-10000 MW he said.

The completion of projects initiated to increase the capacity of the nation to generate more electric power will allow Ethiopia to export power to neighboring countries according to Miheret.

The International Finance Corporation is expected to make 85 million US dollars available in financing to private businesses in Ethiopia according to Adamou Labara, IFC Resident Representative in Ethiopia.

The IFC Ethiopia office has already provided 85 million US dollars to businesses over the past two and a half years.

The 85 million in the IFC portfolio is minimal in comparison to the size and potential of the Ethiopian economy said Labara.

Ethiopia should focus on light manufacturing industries and related export processing zones according to the latest survey report submitted to senior government officials by the World Bank.

The recommendation to concentrate on light manufacturing industries received positive feedback from the Ethiopian government according to Guang Zhe Chen Country Director for the World Bank in Ethiopia.

Ethiopia has earned 137.7 million US dollars from the export of manufactured goods in the last six months according to the Ethiopian Ministry of Industry.

The income was earned through the export of leather and leather products, agro processing, textile and garment, and chemical and pharmaceutical products according to Melaku Taye Corporate Communication Director, with the MoI. 

The World Bank has expressed an interest in financing the Halele-Werabesa Hydropower plant in Ethiopia. The bank is interested in fully financing the 700 million birr project according to, Guang Zen Chen World Bank Country Director for Ethiopia.

The Ethiopian Electric and Power Corporation will submit a proposal to secure the funding to the bank’s governing body after some discussions said Chen.

Experts from the World Bank carried out a field visit to the prospective site for the project and reviewed the feasibility study before submitting the application for financing.