2merkato

SoleRebels, Ethiopia won 50,000 US dollars as one of the finalists at the Africa Award for Entrepreneurship. Bethlehem Tilahun Alemu, Founder and Managing Director of soleRebels accepted the award on behalf of the company at the event held in Nairobi.

“I am elated by this award. It is recognition that soleRebels is at the forefront of a new business paradigm on the continent, one where African driven businesses and brands are elevating Africa’s global competitiveness by winning in the global marketplace” said Bethlehem.

Zemen Bank, Ethiopia is acquiring land in the Sengatera area to build its head quarters. The Bank has completed 99% of the process associated with acquiring the land according to Ermias Eshetu, Deputy Marketing President.

The bank’s headquarter building is expected to be the tallest in an important part of the financial district in Addis Ababa. The Zemen Bank headquarters will be erected in front of Addis Ababa University School of Commerce according to the announcement made by the bank at the official launch of the construction design last Thursday. 

Abyssinian Flight School, Ethiopia is to merge with a US company internationally recognized in the sector according to Solomon Gizaw, managing director of the Ethiopian Flight School. An initial investment capital of 10-20 million US dollars is proposed.

The venture will become operational with the construction of dormitories and the set up of high technology simulators said Solomon.

Gafat Endowment has announced plans to invest 7 billion birr in Ethiopia to establish a paper and pulp project, Tana Paper and Pulp Factory S.C, in the Amhara Regional State

The project will also include a pulp wood farm for a variety of Eucalyptus trees especially adapted to produce pulp.

Diageo is to begin the take over process at Meta Abo Brewery, Ethiopia. The International distiller arranged for the transfer with Ethiopian Privatization and Public Enterprises Supervising Agency at the end of November.

The transfer process is expected to take three weeks commencing from next Monday said Brook Worku, Country Representative for Diageo.

Diageo will conclude the final payment as per the agreement reached with PPESA according to Brook.

Captain Desta Zeru, Vice President Flight Operations will fly the Boeing 787 Dreamliner from Haikou China to Addis Ababa on the 11th of December. The Dreamliner will make a stop in Ethiopia as part of the Dream Tour promoting the 787. 

The ‘Dream Tour’ will allow Boeing customers and partners across the world to experience the innovative technology offered on the company’s most fuel efficient aircraft to date said a statement from Boeing. 

Turkish Company, Karel, is set to enter the Ethiopian telecommunications market. The company is interested in investing in the Ethiopian market which is dominated by only a few companies according to Umut Oner Accounts Manager of Karel.  

Karel, a Private Branch Exchange (PBX) manufacturer, is an internationally recognized producer of telecommunications equipment explained promoters. It hopes to be able to introduce Voice Over IP and Closed Circuit TV services to the Ethiopian market. The services haven’t been allowed in Ethiopia as of yet.

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.