The Merchandise Wholesale and Import Trade Enterprise of Ethiopia revealed the pre-conditions for the government contract to import oil in a letter sent to the Public Procurement and Disposal Agency.
The move is in anticipation of the expiry of the government contract with oil suppliers from Singapore, Indonesia and Malaysia in the coming May.
Addis Prefabricated Housing Manufacturing Industries SC, Ethiopia has sold 31.4 million birr in shares in just the three months exceeding its target capital goal of 29 million birr. The share company floated 29,000 ordinary shares at a value of 1,000 birr since the 16th of February and has attracted 773 investors so far.
The company extended the deadline it had set for selling shares from April 16th to the 20th of May following the demand seen on the market claimed Gezahegn Yayinshet, Chairman of the Board.
The minimum share allotment for one investor is 25 and the maximum 500 shares. A 10% service charge is levied on investors and they are expected to pay 60% of total investment on subscription a further 20% is due three months after the general assembly and the final 20% will be paid another three months after the second allotment is paid.
Prepay Nation and Safaricom Ethiopia have partnered to allow Ethiopians living abroad to send mobile airtime to their loved ones back home. The partnership is expected to benefit over 2.5 million Ethiopians who live outside of their country, particularly in North America, Europe, the Middle East, and the Netherlands.
Ethiopia’s President Sahlework Zewde, who traveled to Johannesburg on Wednesday to attend the Africa Investment Forum (AIF), attended the “Championing Investments: Presidential Chats’ Panel Discussion” yesterday at the opening session of the forum. Sahlework pointed out the activities which were being carried out in Ethiopia to attract investment during a discussion which focused on concrete and transformative actions by Heads of State for a new business Africa. The president said Ethiopia’s electric railway and Ethiopian Airlines help in attracting investment.
Ethiopian President Sahle-Work Zewde, in her opening remarks at the joint session of Ethiopia's House of People's Representatives and the House of Federation, highlighted several goals the government has set in place. President Sahle-Work made the remarks at the customary speech of the swearing-in of the new members of parliament that will remain in the two Houses for the next five years.
