2merkato

The Ethiopian Privatization and Public Enterprises Supervising Agency is to put six publicly owned enterprises as part of its aim to raise 1 billion birr this financial year by privatizing state owned enterprises to private investors.

The six companies being put up for privatization are the Arbagugu Coffee Plantation, Awash Wine Share Co, Bilito Siraro, Commercial Printing Enterprise, Construction Works and Coffee Technology Development Enterprise, and Hamaressa Edible Oil Share Co according to Wondafrash Assefa, Spokesman for the PPESA.

Investors can bid for the six companies until the 20th of December he noted. The plan is to privatize all publicly owned enterprises except those regarded to be strategic he said.

Ethiopia expects to increase its Eurobond up to USD 2 billion via a ten-year Eurobond by the end of this year, Elias Loha, senior National Bank advisor said on October 21, 2015.

The House of People’s Representatives (HPR) is going to ratify the revised draft proclamation on overseas employment in two weeks time, Fana Broadcasting Corporate (FBC) reported.

The Ethiopian Ministry of Culture and Tourism said it plans to dispense another round of star ratings of 200 hotels, reassessing the ratings they already have, before the end of this Ethiopian fiscal year in July.

Ethiopia's Ministry of Trade and Industry announced that it has decided to cut down fuel subsidy to 75 percent, subsequently slightly raising fuel prices so users cover the 25 percent. The Ministry has related that the Ethiopian government has spent 24.05 billion birr (over $608.5 million) for oil price subsidy in the last two years alone.