The Yirgachefe Coffee Farmers Cooperatives Union said it was planning to earn over 7 million dollars from the export of coffee during the current fiscal year.
The union hopes to earn the 7 million dollars by exporting more than 1,100 tonnes of coffee to the United States, Australia, Japan, South Korea and Europe, Takele Mamo, general manager of the union, said yesterday.
Zemen Development and Management Institute, Ethiopia is to graduate its first batch of candidates for the Master of Business Administration and candidates for the International Diploma in Project Management in November.
The programs were offered in a joint effort between ZDMI and Cambridge International College and Castle College in the UK.
The MBA program is a two year program of full time study but students are allowed to extend the time required to up to three years if necessary.
Zefemesh plc, Ethiopia announced plans to launch a mega mall complex. The complex will be cover 9000 m2 and will be seven floors high, to house various services.
The building will be located in the Megenegna commercial area of Yeka district chosen for its strategic location according to Nega Asfaha, Project Management Consultant for the Zefemesh Grand Mall project.
The 4000m2 mall building will be open for business in six months he said.
Zemen Bank SC is looking to foreclose on the first Ethiopian car assembly, Holland Car for defaulting on a loan arrangement 
according to sources at the bank.
Holland Car has fallen notably behind on loan payments and has failed to respond to repeated cautions from the bank according to sources.
The auto assembler was particularly affected by the 20% devaluation of the birr against the dollar in September of 2010, as the contract it had signd with customers in 2009-2010 did not foresee the devaluation and the ensuing price escalation explained sources.
Zemen Bank, Ethiopia declared 123 million birr in gross profits in the 2011-12 financial year, netting 86 million birr. The revenue earned by the bank is 2 million birr more than what the bank had declared in the previous financial year according to the statement by the bank. Zemen was able to deliver 58% in earnings per share to its shareholders it reported.
The rate of growth for the bank was slower as compared to the performance it had registered in the previous year said Ermias Eshetu, Vice President of Marketing and Corporate Services with Zemen.
The investment and capital of the bank has been tied up in provisional investment costs for the construction of the future headquarters of the bank and in the purchase of National Bank bonds as per requirement he explained.
