2merkato

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.

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.