The government of Ethiopia lifted the price cap on cotton on 15 August 2011 following the decline of prices
in the international market.
For three months from November 2010, the price of a kilogramme of cotton was fixed at 42.78 Br a kilo. At the same time, the government had also banned exporting cotton when demand by local textile factories increased and prices in the international market soared.
The Chinese China Road and Bridge Corporation is likely to win the 2.6 billion birr project to construct an interchange roundabout system in Addis Ababa to complement the Light Railway Transit.
The Addis Ababa City Roads Authority announced a budget of 2.6 billion birr to construct interchanges and roundabouts as a part of the Light Railway Transit being launched in the Ethiopian capital. The budget for the roads development is expected to be covered by the federal government and the city administration according to sources.
The roads authority will select a contractor for the construction of the interchanges and roundabouts once it confirms funding it was noted at the time.Dire Credit and Savings Institute’s Public Relations Manager Mulugeta Abebe announced that the institute was able to provide loans totaling Birr 372 million during the last fiscal year targeting business startups. The Manager stated that from the total loan, Birr 358 million was distributed to 2,310 enterprises which were organized by micro and small enterprises.
It was learnt that the credit and savings institute, which has more than 52 thousand customers, collected Birr 228 million in savings in the same fiscal year.
The institute has branches in Harrar and Jigjiga and 82% of its customers are women and youth.
Source: Fana BC
Crown Paints Kenya Ltd has proposed to open a factory in Ethiopia at the cost of U.S $ 8 Million by 2015. This was after the company’s plant in Tanzania commenced production in January 2014.
The Central Statistical Agency of Ethiopia (CSA) is said to construct buildings for its four branches in Mekelle, Hawassa, Ambo and Bahir Dar, according to Addis Fortune.
