2merkato

Moha Soft Drinks, producer of Pepsi products in Ethiopia, is set to extract 300,000 liters of ground water every day from a well drilled on the premises of its plant in the Teklehaymanot area of Addis Ababa.

The plant, which produced 17,000 cases of soft drinks per day, had stopped production over the past month due to water shortages, creating a scarcity of Pepsi products on the local market.

The shortage in Pepsi products has affected consumers in Addis Ababa and surrounding areas according to retailers.

The Ethiopian Ministry of Industry launched its second phase private-sector capacity building project through the Ethiopian Competitiveness Facility (ECF). The project is have 4 million pounds budget financed by the UK Department for International Development (DFID).

The project is designed to improve the participation of the private sector in the Ethiopian economy by boosting  productivity and competitiveness.

Ethiopia's Ministry of Labor and Social Affairs has amended its directive to increase the minimum wage paid to Ethiopians traveling to the Middle East for job. The directive has increased minimum wage from  180 U.S dollars to USD 250.

Many Ethiopians travel to the Middle East for a meager salary of USD 180 to provide unskilled labor services, while Indonesian and Filipino domestic workers wage ranges from USD 450 to USD 500 with more favorable working conditions.

Amole, Ethiopia’s largest mobile eWallet platform, and Visa (NYSE: V), the global leader in digital payments, announced a strategic partnership and the launch of the Amole eCommerce Gateway, using Visa CyberSource infrastructure which supports digital payments for merchants and banks. Dashen Bank will be the first bank to use the Amole eCommerce Gateway making it the first Ethiopian bank to acquire all three major international cards (Visa, Mastercard, and American Express).

Moody’s report on the credit analysis of Ethiopia on Friday, May 29, 2015 reads that Ethiopia’s favorable growth and debt burden prospects and low debt burden supported its B1 rating, MoFA reported.