2merkato

The Ethiopian Prime Minister Haile Mariam Dessalegn held a consultative meeting with domestic and international investors in Addis Ababa this week according to the Ministry of Industry. The PM met with investors engaged in the production of raw materials for the industrial and agricultural sectors it was noted.

The meeting is expected to help set the directions for investment and to enhance the performance of the sector by identifying the challenges and appreciating the achievements said Mekonnen Manyazewal Minister for Industry.

The talks are also intended to affirm the governments continued commitment to implement the goals of the national development plan and the recognition it has of the invaluable role that is placed by investors in the realization of this plan he added.

Meles Zenawi, Prime Minister of the Federal Democratic Republic of Ethiopia died on the night of August 20th from a sudden infection according to a statement released by the Council of Ministers. He was 57 years old.

Prime Minister Meles Zenawi had been undergoing treatment for a protracted illness abroad for some time and has not been seen in public in the last month.

Zemen Bank’s net profit doubled from 29 million birr to 63.5 million birr in the last fiscal year.

Zemen Bank disbursed 633.7 million birr in loans to its customers. Loans to medium and long-term projects amounted to 53 percent of the total loans disbursed.

Although the bank increased loans disbursed to its customers by 67.6 percent, its loan-to-deposits ratio remained at 55 percent, the same as that of the year before. 

The Ethiopian Privatization and Public Enterprises Supervising Agency (PPESA) is to fully privatize two state-owned enterprises, Walta Information Center reported.

The bid which opened on Monday 1 October 2013, include Ethiopian Mining Development S.C and Caustic Soda S.C, Wondafrash Assefa, PPESA corporate communications director, told Walta.

The Privatization and Public Enterprise Supervisory Agency in Ethiopia announced that it has earned a total of 762 million birr in revenue over the first two quarters of the fiscal year from the various enterprises under its administration.

The revenue raised by the agency is less than the 1 billion birr target it had set but up 230 million from the same period last year.

The revenue was raised by 53 public enterprises administered by PPESA excluding revenue for agricultural enterprises, which accounts for the deficit from the target revenue according to Wendafrash Assefa, Head of Public Relations with PPESA.