2merkato

The Commercial Bank of Ethiopia is to open its second branch in Southern Sudan. The branch will be opened in the second largest city in South Sudan and Malakal.

The bank aims to tap into the growing business in the area according to a banker attached to the Commercial Bank branch at Juba. The bank has already sent thirteen employees to Juba and CBE has already constructed the office that will house the bank he said.

There are only three banks, two local banks Nile Commercial and Ivory and Kenyan bank Equity, currently operating in Malakal in spite of the business created by its proximity to Ethiopia and North Sudan.

The Ministry of Information and Communication Technology (MICT) said that it had granted permission to companies that run internet-dependant operations to acquire and use VSAT (Very Small Aperture Terminal).

Some months earlier, the ministry had issued a directive allowing companies which are dependent on the internet and those working in remote areas of the country where there is no access to the internet to use VSATs, Debretsion Gebremichael (PhD), minister of MICT, said.

Three companies in Ethiopia's Kombolcha Industrial Park have resumed operations following the ease of security situations in the area, and have started exporting their products abroad, it has been reported.

Allana Potash Corp. announced that it had awarded an Environmental and Social Impact Assessment Study (ESIA) on its Ethiopia potash project to Environmental Resources Management (ERM).

The ESIA is scheduled to be completed around August 2012 and will form an integral part of the feasibility study the company is planning to initiate shortly.

ERM has offices in 40 countries around the world and Allana's project will be coordinated out of South Africa.

Yetim ePayment Service PLC, a newly formed local company, Friday launched a service that provides instant information including schedules of Ethiopian Airlines's departure and arrival, foreign exchange rates, prices of coffee, gold and related items as well as cinema schedules via cell phone to potential customers.