2merkato

Yara International has awarded the 2012 Yara Prize to Dr. Eleni Gabremadhin, former CEO of the Ethiopian Commodity Exchange.

Dr. Eleni has been selected by the committee for her visionary leadership in managing the process to establish a functioning market for agricultural produce as the founder and chief Executive of the Ethiopian Commodity Exchange.

The Yara Prize Committee selected Dr. Eleni and Dr. Agnes Kalibata, Rwandese Minister for Agriculture and Animal resources for their work on ground breaking sectors in the African Green Revolution and contributing to effective public policies to support agricultural development and for profound innovation in agricultural markets.

Liberty Metals & Mining Holdings, LLC, a subsidiary of Boston-based Liberty Mutual Insurance (LMM), has acquired 25 percent of the shares in “Yara Dallol” for USD 51.25 million.

Yara International is to increase its investment in the Ethiopian potash sector increasing ownership in Ethio-potash BV from 16.67% to 51%.

Yara had entered into an agreement with two partners to invest in 16.67% of Ethio-potash. The other partners were Seftec with 26% share and XLR with a 57.33% share and management of the company in 2009.

XLR will retain a 49% share while Yara will take over the management of the company with its 51% share. 

Sheba Investment PLC., a Yemeni company, has made a request to acquire an additional 48 percent share of  the Ethiopia's National Tobacco Enterprise S.C., according to Fortune.

Yigzaw Mekonnen is to be the new General Manager of Yetebaberut Beherawi Petroleum after resigning from his post as Managing Director of the Ethiopian Petroleum Enterprise.

Yigzaw has been with EPE since he joined the Asseb Refinery in Eritrea two years after graduating from the Engineering Department of Addis Ababa University. He went to do a Master’s Degree in Management from the Open University of London.  

Yigzaw is leaving the enterprise at a time when it is restructuring to merge with the National Petroleum Depot Administration. Mekonnen Teshome, a senior manager at NPDA will temporarily take over from Yigzaw it was learned.