2merkato

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.

The Ethiopian Privatization and Public Enterprises Agency is planning to transfer 20 state owned enterprises to the private sector in the current Ethiopian Fiscal Year, Fortune reported.

The Agency is re-tendering Ghion Hotel, Agricultural Mechanization Services Enterprise, Transport Construction Design S.C, Artistic Printing Enterprise, and Weyra Transport S.C.

The Ethiopian Privatization and Public Enterprises Supervising Agency earned 6.7 billion birr in revenue in the last fiscal year which showed an increase of 5.7 billion birr from the 1 billion birr projected for the enterprise.

A significant percentage of the revenue raised by PPESA, estimated at 6.18 billion birr, was raised from the auction of public companies up for privatization. Payments deferred from transactions made in previous years accounted for 464 million birr while 50 million birr was raised from transfer differences, fines and other sources of revenue.

The Agency also earned 8.7 million birr from lease sources.

Ethiopian products were dominate at the second ISE Construction and Housing Exhibition held from the 12th-16th of January in Ethiopia. Fifty local and international exhibitors were represented at the exhibition.

It took two months to organize the exhibition which aimed to correct mistakes made in the first one and to include a wide range of industries with a majority of participants being from the construction industry explained Mekdela Mekuria, Marketing and Outreach Executive at Lexicon Promotion Service plc.

A specialized construction exhibition will be held for five days in Addis Ababa, Ethiopia, starting from the 25th of January, according to an announcement made by Century Promotion Service. The exhibition will be conducted in collaboration with the Metal Engineering Corporation.

More than 53 companies including 11 international ones have confirmed their participation in the upcoming event said Zewge Jemaneh head of CPS. A further 120 companies are expected to attend pending final confirmation he said.