2merkato

Klatch Coffee Inc, specialty coffee roaster in Southern California was awarded with a Good Food Award Gold seal for its Ethiopian Gedo Worka coffee. The coffee bean from Ethiopia is known for its distinct and diverse flavors.

The award in the coffee category of the Good Food Award was presented by a panel of thirteen well regarded coffee experts at an event held in San Francisco last week.

The Good Food Awards are intended to honor drink and food producers committed to creating authentic, tasty and responsible food systems honoring farmers and producers.

Coffee production in Ethiopia for the last two seasons has exceeded all expectation according to the International Coffee Organization. Coffee output, internationally, exceeded expectations by 1 million bags for 2010-11 to reach 134.2 million bags said the coffee organization.   

The ICO has increased its estimated global output for 2011-12 by 3.8 million bags due to a significant increase in production in Ethiopia expected to be around 6 million bags.

The Oromia Cooperative Bank, Ethiopia announced a net profit of 47.3 million birr for the last fiscal year. The profit recorded by the bank showed an increase of more than 88% from the previous year. 

OCB was able to increase its total assets by 47% to 2.5 billion birr while total deposits drew close to 2 billion birr showing a 45% increase according to Wondimagen Negera President of the Bank.

Traditional artisan gold miners in Ethiopia have failed to meet expectations of output, over the last two quarters. Artisan miners have produced 3809kg of gold in the past two months which is 44% less than the targets set by the Ministry of Mines in Ethiopia.

The persistent decrease in price seen in the international market has discouraged miners according to Tamrat Mojo, Head of the Traditional Mines, Manufacturing, & Transactions Department of the Ministry of Mines.

Tendaho Sugar factory is expected to put Ethiopia in the number one place for sugar cane crushing capacity when it becomes fully operational according to Million Moges Deputy Manager for the project.

The project established in Afar Regional State at a cost of 11.8 billion birr has the capacity to crush 26,000 tons of sugar daily when fully operational said Million. The factory will be able to crush 13,000 tons of sugar cane in the first phase of the project he noted.

Radisson Blu Hotel opened as the third international hospitality chain in Ethiopia. The hotel is situated in a nine storey building found in the Kazanchis area of Addis Ababa.

The hotel has 204 rooms, including 44 business class, 16 luxury suites and one presidential suite. On opening it offers partial restaurant, bar and café services. ‘The Signature’ bar can serve a total of 132 people at one time while a luxury French restaurant ‘Verres en Vers’ can seat 144 customers.

Ethiopian Banker, Admassu Y. Tadesse has been appointed as the 4th president of the Preferential Trade Area Bank of the COMESA. The PTA board of directors appointed the banker from Ethiopia on the 10th of January.

The PTA (The Eastern and Southern African Trade & Development Bank) board was chaired by Willard Manug and made up of seven members.

Admassu Y. Tadesse was elected from a pool of 120 candidates from 15 countries including Ethiopian Dr. Mulu Ketsela according to sources.

Hide and skin prices saw an increase of 25% in Ethiopia last month. The price of hide and skin normally lowered or remained the same during holiday seasons but that has not been the case this year said the Leather Industry Development Institute in Ethiopia.

The recent increase in prices is related to the rise in new tannery production and the growth of the leather industry according to officials with the Ethiopian Leather Industries Association.

Mesfin Industrial Engineering plc, Ethiopia will begin assembling three new models of GEELY vehicle in 2012. MIE is expected to introduce, to the Ethiopian market, the SL1500cc model in June, followed by the EC1500cc and the 1300cc hunchback.

The three models have already been imported to Ethiopia and will be tested on Ethiopian roads this week according to Yesuf Adamnur, Sales and Promotion Manager at MIE.

The Transportation Office of Addis Ababa, Ethiopia is partnering with the Agence France de Development to set up a rapid transit bus service. The city is to float an international tender for study of a pilot program.

The first line is expected to be Gofa Gabriel to General Wingate TVET School (12km) said Tiblets Asgedom, Head of the Transport Bureau of the Addis Ababa City Administration.

The project will commence after the study is completed according to Tiblets.