2merkato

Ethiopia’s Omo Kuraz Sugar Factory II is planned to go operational by 2017, according to the report of Walta Information Center (WIC).

Ethiopia’s lower house, House of Peoples’ Representatives (HPR), approved budget of 320.8 Billion Birr budget for the 2017/2018 fiscal year. When compared to the previous fiscal year, the budget shows 16.9 percent (46.4 billion Birr) increase.

Ethiopian Industrial Park Development Corporation (EIPDC) disclosed one of the industrial parks being built in Ethiopia, Kilinto Pharmaceutical Industrial Park, has reached 75 percent completion rate.

Meles Zenawi, Prime Minister of Ethiopia hinted of a potential oil discovery in the next year. The Prime Minster made the claim while addressing participants of the Ethiopia Investment Forum which was a side event to the 22nd World Economic Forum on Africa.

There are investment opportunities in the extractive industry including oil exploration told Meles to more than 200 domestic business leaders and as many international corporate CEO’s.

The Prime Minister claimed that Tewodros Ashenafi, Founder, Chairman and Chief Executive Officer of South West Energy will be the bearer of good news.

Central Statistics Agency (CSA) disclosed Ethiopia’s population has reached 87.9 million.