Ethiopia's logistics sector is set for an upgrade following an agreement signed between the Ethiopia-Djibouti Standard Gauge Railway Share Company (EDR) and the state-owned Ethiopian Shipping and Logistics (ESL).
Ethiopia's Minister of Mines, Takele Uma, said a long trade chain in the sale of cement is one of the root causes that inflates cement prices. Consequently, he remarked, cement manufacturers have yet to distribute over 2.6 million tons of cement for which they have already received payment.
Lottery draw is going to be held by the end of the current month to handover about 40,000 condominium houses which are built in Ethiopia’s capital, Addis Ababa.
Addis Ababa Light Rail Transit project (LRT) received a U.S. $ 150,000 loan from the United Nations Office of Project Services (UNOPS) after the project was registered as clean and environmentally friendly project. This is in addition to the U.S. $ 20 Million loan Ethiopian Railway Corporation (ERC) applied for at different climate financiers around the world.
Lucy Insurance S.C., one of Ethiopia’s private insurance companies, has registered a net profit of 13.3 million Birr. The insurance company’s performance shows a 57 percent increase but earning per shares have declined to 166 Birr from 247 Birr when compared to 2014/2015 fiscal year.
