2merkato

The Ethiopian Commodity Exchange (ECX), in collaboration with the United Nations Development Program, is ready to host the African commodity exchange conference next week.

The conference will be held on the 8th and 9th of November according to a statement made by the organizers.

The Ethiopian Civil Aviation Authority has announced that Ethiopia has signed air service agreements with 11 countries. The agreement was signed at the 4th International Civil Aviation Negotiation Conference which held place in Mumbai.

Ethiopia will gain a range of benefits from the agreements including in the areas of investment, trade and tourism according to Endeshaw Yigezu Authority Air Transport Planning Directorate and Delegation Head.

Pittards has announced plans to venture into sheep farming in Ethiopia. The UK-based leather and leather products manufacturing company is looking to move into the supply side of the business according to John Moriarty, Managing Director of Pittards Ethiopia Tannery.

The company has looked at a 10,000 hectare plot of land in the North Shoa region said Moriarty.

The World Bank has granted 11 million birr to facilitate an investigation into the national revenue potential of Ethiopia. The study was commissioned by the Ethiopian Revenues and Customs Authority (ERCA).

The study will assess the revenue productivity of each tax, identify gaps in the law and how to address them as well as widening the tax base on the national level. It will be part of the tax reform instituted by the government to generate mechanisms of increasing the tax-GDP ratio.

The Ethiopian Revenues and Customs Authority (ERCA) is to set up an inspection laboratory for tariff classification of imports. The lab will help determine the tariff classifications of imports on the basis of their material and chemical composition.

The inspection laboratory is a recommendation from the Dutch Customs Authority (DCA) and the World Customs Organization (WCO). The two agencies were invited to evaluate existing tariff classifications and recommend possible changes by ERCA. The contract was sponsored by the Swedish International Development Agency (SIDA).

The National Oil Corporation (NOC), in collaboration with Q8Aviation, has expanded its aviation activities in Ethiopia by launching jet fuel services at Gambella and Assosa airports.

The new operations at Gambella and Assosa airports are an important step in NOC’s long term plans to expand its aviation business according to Shisema Shewaneka, Chief Operation Officer of NOC.

DAT/EM Systems International has finalized the sale and installation of 29 SUMMIT Evolution workstations for the Urban Development Capacity Building Office of the Ethiopian Ministry of Urban Development and Construction.

The work stations will provide technical support for the Base Map Preparation Project to be carried out in 150 selected towns.

SoleRebels, an Ethiopian Foot wear company, has been selected as finalist in the 2011 Africa Awards of Entrepreneurship.    

SoleRebels are artists that desire to craft stylish and comfortable footwear according to Bethlehem Tilahun founder and managing director of the company.

“We do this by combining  our heritage artisan crafts with modern design sensibilities , while  pouring  our creative selves  into our shoes.  The final result is  that  when our footwear is bought ,  the purchaser can SEE , FEEL and enjoy all the  elements of heart, soul and creative craftsmanship that have gone into their construction. We are deeply proud that that this ethos has carried us to the finals of this amazing competition.” stated  Bethlehem

NIB Bank has announced a net profit of 246.4 million birr in the last fiscal year. The Ethiopian bank showed an increase of 22.7% from last year.

The total income generated by NIB was said to be 656.6 million with gross profits registered at 344.1 million according to a report from the bank. The gross profits showed and increase of 58.8 million over the last fiscal year.

Total Ethiopia has initiated a solar powered gas station in the Djibouti corridor according to Haile Eyesus Communications and Public Affairs Manager of Total. The gas station will be the first solar powered station in East Africa he said.

Total selected the Diciotto area for constructing the gas station because it is a busy section that has high temperatures and sunshine.