2merkato

A delegation of about 30 Indian companies led by Karuturi, the world's largest flower producer, last week expressed interest in investing in the agro business sector in Ethiopia.

Indian companies have so far invested about 5.5 billion dollars and Karuturi said that the newly coming Indian investors would significantly push up the figure.

Karuturi is currently engaged in farming flower, palm oil, rice and maize on 100,000 hectares of land in the Gambella Regional State and Bako in the Eastern Wollega Zone of Oromia Region.

A Construction Exhibition that will last for five days has been opened at Ethiopia’s capital, Addis Ababa, where more than 200 firms from various nations are taking part of. The Exhibition was opened on Wednesday, September 17, 2014, under the theme; “A path to better future”.

The Bahir Dar City Trade and Industry Bureau stated that investors engaged in different areas of the industry sector had a registered capital of about 1.8 billion birr, Walta Information Center Reported.

A Moroccan Company, S2M, has won the bid to form a joint electronic payment system for three Ethiopian banks. Awash International Bank, NIB International Bank and United Bank formed Premier Switch Solutions SC which will use S2M to integrate their ATM services.

Fourteen international firms took part in the bid according to Berhanu Getaneh President of United Bank.
S2M is expected to form a system that will enable ATM holders at the three banks to withdraw money at all ATM machines operated by members of the Premier Switch.

An official joint venture (JV) company has been established today between Morocco's Uni Confort Maroc Dolidol SA, a company engaged in the production of mattresses and related products, and Ethiopia's Technostyle, a producer of furniture and related products.