The Ethiopian Privatization and Public Enterprises Supervising Agency (PPESA) has offered the Ethiopian Mineral Development S.C. for full acquisition, Capita reported.
The Ethiopian Privatization and Public Enterprises Supervising Agency of Ethiopia is to set up a new enterprise on palm oil refinery at projected cost of 401.1 million Birr. The refinery is to be built with the expectation that once completed the enterprise will have an annual production of 300,000 tons, as it stated by the officials of the Agency.
The production will be equal with the annual import order of the state owned enterprise, Merchandise and Wholesale Trade Enterprise which covers 80% of the national demand currently.
The agency has invited interested parties both domestic and international, to bid in a public tender, for the construction of a crude edible oil refinery plant on the two locations allocated by the government.
Eyesuswork Zafu, veteran insurer, said last week that he would retire within two months from his position as 
the CEO of United Insurance. He has been the CEO of the insurance company for the last 17 years.
Eyesuswork, who is also the president of the Ethiopian Chamber of Commerce and Sectoral Associations, has been considering retirement from the insurance company for the last three years.
He said that although he would retire soon, he would continue to serve the company in the capacity of a councillor and an advisor. “As personal connections still matter in the insurance industry, I will be there to assist the company’s business.”
The Common Market for Eastern and Southern Africa Bank (PTA Bank) approved the 6 million US dollar loan requested by Access Resorts, Ethiopia. The National Bank of Ethiopia has also approved the loan according to sources. 
Access requested the loan for the renovation and upgrade work it expects to carry out on the former Imperial hotel.
The central bank approved the loan because Access was able to prove that it can pay back the loan in foreign exchange noted Alemayhu Kebede, Director of Change Management and Communications at NBE.
Ethiopia’s Ministry of Foreign Affairs (MFA) signed a Memorandum of Understanding (MoU) with Eastern and Southern African Trade and Development (PTA Bank) for the later to establish regional office in Addis Ababa.
