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Ribbon Cutting Brings Addis Abeba-Nairobi Highway a Step Closer

The 100km long Yabelo-Mega road – part of the 1,000km Mombasa-Nairobi-Addis Abeba Road Corridor – will be opened for traffic on Sunday, March 9, 2014 in the presence of Worqineh…

3/10/2014 via Addis Fortune in Business (African countries)
getwossen@mail.com (Fitsum Abera)
Whipping up Expectations

The leather industry is sure to gain the USD 500 million targeted by the Growth and Transformation Plan (GTP) despite its current lag, said Abdissa Adugna, secretary general of the Ethiopian Leather Industries Association(ELIA) at the opening of the seventh annual all African leather fair on February 20 at the Millennium Hall.

2/24/2014 via Capital Ethiopia in Business (Ethiopian leather)
Muluken@capitalethiopia.com (Muluken Yewondwossen)
Eight companies get export boost

The Public-Private Steering Committee (PPSC), the upper body of the Ethiopian Competitiveness Facility (ECF) has approved financial support for eight companies last week, Capital learned.

2/7/2014 via Capital Ethiopia in Business
EthioSports
Ethiopia: The last big untapped African Market

Zemedeneh Negatu Ethiopia Vibrant, growing and on the radar of many top  executives – Ethiopia has come a long way. Zemedeneh  Negatu, Managing Partner EY Ethiopia and Head of  Transaction Advisory Services, explains what’s happened

1/19/2014 via Google News in Business
New State Enterprise to Lease Machinary to MSEs

A new state-enterprise that will lease machinery to Micro & Small Enterprises (MSEs) is about to be established under the Addis Abeba City Administration, with a capital of 500 millionBr.…

9/17/2013 via Addis Fortune in Business (Ethiopian banking)
An ‘In-N-Out’ Dispute Over Foreign Trademarks

The Burger and Chicken House, In-N-Out, came to the attention of the American brand of the same name after tourists complained about their experience there. This has created a situation where the American brand is seeking to force the Ethiopian company to change its name. It is not only ‘In-N-Out’ who find themselves is such a situation, there are a number of other Ethiopian businesses functioning under foreign names also, reports BEWKET ABEBE, FORTUNE STAFF WRITER.

9/17/2013 via Addis Fortune in Business (Ethiopian law, Trade & Commerce)
Ethiopian Reports Record Two Billion Br Profit

Ethiopian Airlines has reported a record net profit of 2.03 billion Br, during the 2012/13 fiscal year. This is a 178pc increase compared to the previous year’s 734 million Br,…

9/2/2013 via Addis Fortune in Business (Ethiopian Airlines)
New Hotel Star Rating to Raise Bar High

The Ministry of Culture & Tourism (MoCT) has launched a new draft document to  outline the standards and requirements for hotels and lodges. This comes two years after the MoCT…

9/2/2013 via Addis Fortune in Business (Ethiopian Hotels)
Ethiopian Airlines: Dreamliner boosted profits

ADDIS ABABA, Ethiopia -- Ethiopian Airlines has made a record profit, the company's chief executive officer said this week. Tewolde Gebremariam partly credited the profitability of Ethiopian Airlines to Boeing's problematic 787 planes. He said the ...

8/31/2013 via Google News in Business (Ethiopian Airlines)
Swedish clothing retailer H&M wants to set up shop in Ethiopia, since ...

Nazret.com

Swedish clothing retailer H&M wants to set up shop in Ethiopia, since ...
Deutsche Welle
Ethiopia offers a number of advantages, said Thomas Ballweg, a procurement and technical consultant at GermanFashion. "On the one hand are the lower costs - much lower than in China - with 80 million people living there. And, it's near the sea - and ...
Does H&M's investment in Ethiopia finally signal the African manufacturing boom?Daily Maverick
Swedish fashion retailer set for Ethiopia expansionIceNews

all 5 news articles »
8/27/2013 via Google News in Business (Ethiopian economy, Ethiopian exports)
Privatisation Kicks Off the Year with Auction Adjustments

The Privatisation and Public Enterprises Agency (PPESA) plans to auction 20 companies this fiscal year, with three companies making their debut on the auction block. A tender for five of…

8/26/2013 via Addis Fortune in Business (Trade & Commerce, Ethiopian economy)
New Strategy Penned For Diaspora Housing Registration

The Ministry of Foreign Affairs (MoFA) and the Ministry of Urban Development & Construction (MoUDC), together with the Commercial Bank of Ethiopia (CBE), are finalising a new strategy following the…

8/26/2013 via Addis Fortune in Business (Ethiopian housing, Ethiopian diaspora)
Nib Signs Billion Birr Tender With Chinese Company For Construction of New Headquarters

The Nib International Bank S.C (NIB) and Nib Insurance Corporation S.C (NIC) hired the China Railway No. 3 Engineering Group Co. Ltd for the construction of their 35-storey headquarters, in…

8/26/2013 via Addis Fortune in Business (Ethiopian banking, Construction)
City to Spend 154b Br

The new city administration plans to spend 154 billion Br over the next five years and road construction will be the top priority, as the city seeks to increase coverage from 15pc up to 20pc

8/19/2013 via Addis Fortune in Business (Ethiopian telecommunications)
Ethio Telecom amasses 20 bln birr



Ethio Telecom (ET) has increased its profit by three billion birr, compared with the last fiscal year.
The state monopoly reports huge profits every year.
This year, it has for the first time recorded gross profits of 20 billion birr before taxes and other expenses, according to reliable sources.
One year ago, it recorded gross profits of 17 billion birr from its telecoms business.

8/19/2013 via Capital Ethiopia in Business (Ethiopian telecommunications)
Ethiopia signs $800 million mobile network deal with China's ZTE

Tadias Magazine

Ethiopia signs $800 million mobile network deal with China's ZTE
Reuters
ADDIS ABABA (Reuters) - Ethiopia signed an $800 million deal with China's ZTE (000063.SZ) on Sunday to expand mobile phone infrastructure and introduce a high-speed 4G broadband network in the capital Addis Ababa and a 3G service throughout the ...
Ethiopia signs mobile expansion deal with China's ZTEFox News

all 4 news articles »
8/18/2013 via Google News in Business (Ethiopian telecommunications)
Mining Licensing to Become Stricter in Bid to Eliminate Abuse

The Ministry of Mines (MoM) is working on a number of reforms, in order to change the mineral exploration licensing. The licensing for gemstone exploration may also be temporarily suspended.…

8/12/2013 via Addis Fortune in Business (Ethiopian mining)
Seka Expects Juicy Profits From New Factory

Within the next 18 months, Seka Agro Processing Plc – a rice and improved mango processor – is to establish a ten million dollar juice processing factory in the Megenteya…

8/12/2013 via Addis Fortune in Business (Ethiopian food)
Central Bank Pushes Launch of CORE Banking Solution Back to September

The National Bank of Ethiopia (NBE) is delaying the launch of its core banking solution by two months, until the end of September 2013.This is two months later originally planned.…

8/12/2013 via Addis Fortune in Business (Ethiopian banking)
Central Bank Pushes Launch of CORE Banking Solution Back to September

The National Bank of Ethiopia (NBE) is delaying the launch of its core banking solution by two months, until the end of September 2013.This is two months later originally planned.…

8/12/2013 via Addis Fortune in Business (Ethiopian banking)
Middle Class Housing Registration to Commence This Week

The Commercial Bank of Ethiopia (CBE) will start registration for the 40/60 housing scheme on Monday, August 12, 2013, for citizens who are categorised as upper middle class. The registration…

8/12/2013 via Addis Fortune in Business (Ethiopian land policy)
For Ethiopian Women, Construction Jobs Offer A Better Life

NPR

For Ethiopian Women, Construction Jobs Offer A Better Life
NPR
Earlier this summer in the Ethiopian capital Addis Ababa, I heard a complaint from many professionals that they could no longer find cheap house cleaners and nannies. The apparently endless supply of girls and young women from the countryside who ...
Enjoy a short break in Addis Ababa with Ethiopian Airlines during Eid holidaysEthioSports

all 4 news articles »
8/7/2013 via Google News in Business (Construction)
British firm drills for Ethiopia's first oil

Times of Oman

British firm drills for Ethiopia's first oil
Times of Oman
Tullow Oil, the British explorer that found Kenya's first crude a year ago, is about to find out whether the resources extend into neighboring Ethiopia, a nation dependent on agriculture that's yet to discover any petroleum. Tullow, Africa Oil Corp ...

and more »
8/3/2013 via Google News in Business (Ethiopian energy)
Smell the coffee: Ethiopia's commodity exchange boosts growth

Established in 2008, the ground-breaking ECX has boosted exports in Ethiopia, improved conditions for producers and is now inspiring other countries in resource-rich Africa to set up their own exchanges to ensure they are the main beneficiaries of ...

6/4/2013 via Google News in Business (Ethiopian coffee)
The Hindu
Karuturi debacle prompts Ethiopia to review land policy

In 2008, Karuturi Global made international headlines when it leased 300,000 hectares (ha) of land in southern Ethiopia with the stated aim of becoming the world's largest food producer. Five years on, the slow progress of Karuturi and similar projects ...

Reuters
Ethiopia to sign mobile network deals with ZTE, Huawei

Ethiopia to sign mobile network deals with ZTE, Huawei
Reuters UK
ADDIS ABABA (Reuters) - Ethiopia will sign agreements with China's ZTE Corp and Huawei Technologies Co Ltd in a "few weeks" to expand its mobile phone infrastructure and double subscribers to 40 million, a senior Ethiopian official said on Thursday.

and more »
5/30/2013 via Google News in Business (Ethiopian telecommunications, Ethiopia and China)
Brazil Development Bank Gives $1 Billion to Ethiopia Rail

The bank “is willing to finance the project,” he said after EthiopianPrime Minister Hailemariam Desalegn met Brazilian President Dilma Rousseff. “The technical side has been finalized, it's only the financing part; it's a matter of the details ...

5/27/2013 via Google News in Business (Ethiopian transportation)
Taste of Ethiopia Summer Food Fancy

Taste of Ethiopia is getting fancy. Last Sunday the New York based business took part in the Summer Fancy Food Show competition in Washington D.C..

EthioSports
Ethiopian Airlines awards HQ design contract to BET Architects

EthioSports
Addis Ababa, EthiopiaEthiopian Airlines yesterday signed an agreement awarding the design work of its new headquarters building planned to be built at the Addis Ababa Bole International Airport to BET Architects. The agreement was signed by Yisak ...

2/18/2012 via Google News in Business (Ethiopian Airlines, Ethiopian Architecture)
EthioSports
Ethiopia generates $137 million from manufacturing exports

Addis Ababa, Ethiopia –The Ministry of Industry said that over $137 million was obtained from the export of manufactured goods alone in the first half of the budget year. Communication Corporate Director with the Ministry, Melaku Taye, ...

Nazret.com
Ethiopia's Biggest Cement Factory Inaugurated

Nazret.com (blog)
Derba MIDROC Cement Plc, Ethiopia's biggest cement factory, was inaugurated here on Sunday in the presence of Prime Minister Meles Zenawi and other invited guests at a ground-breaking ceremony held with in the premises of the factory.

2/6/2012 via Google News in Business (Ethiopian cement, Ethiopian exports)
Tadias Magazine
Taste of Ethiopia Introduces Organic, Packaged Ethiopian Food in Markets

Tadias Magazine
Hiyaw Gebreyohannes (center), owner of Taste of Ethiopia, with his sister (left) and his mother (right). (Courtesy photo)" By Tseday Alehegn New York (TADIAS) – We recently spotted a selection of ready-made Ethiopian vegetarian food at a natural food ...

12/9/2011 via Google News in Business (Ethiopian entrepreneurship, Ethiopian food)
Court Orders AAU to Upload 3.2m Br to Nejat Computer Services

Addis Abeba University has been ordered to pay 3.2 million Br in a suit brought against it by Nejat Computer Services Plc, a private company engaged in importing computers and accessories.

12/4/2011 via Addis Fortune in Business (Court & Justice, Information Technology, Nice stories)
Ethiopia: Mayor Michael Bloomberg names Bethlehem Tilahun Alemu as 2012 NYC

New York City, Addis Ababa, Ethiopia, 18 November 2011 - New York City Mayor Michael Bloomberg has selected bethlehem tilahun alemu as a NYC Venture Fellow in recognition of her extraordinary achievements as a global entrepreneur. ...

11/18/2011 via Google News in Business (Ethiopian entrepreneurship)
A new forum for Ethiopia’s Entrepreneurs

Ethiopia joins 119 nations to celebrate Global Entrepreneurship week from November 14 to 20.

Michael Fekade, Chief Executive Officer of Empact Capital Partners, LLC, the host of the weeklong event, says it will give young people an opportunity to network. Aspiring entrepreneurs who have some post secondary education will be encouraged to foster creativity to build businesses.
Addis Ababa University Faculty of Business and Economics will demonstrate the progression of entrepreneurship in Ethiopia. Experienced Ethiopian entrepreneurs will talk about challenges, regulations and finances.
Ermias Amelga founder of Access Capital, Doctor Werotaw Bezabih, entrepreneurship expert,

Read more...

11/15/2011 via Capital Ethiopia in Business
Ethiopia to export only finished leather items from December

The Ethiopian leather industry would only export finished goods commencing from December 2011, the Ministry of Trade (MoT) has announced. During a half day consultative forum organized to deliberate over the country's leather industry, Ahmed Nuru, ...

11/14/2011 via Google News in Business (Ethiopian leather)
Impressive performance for ECX The Ethiopian Commodity Exchange (ECX) has doubled its performance from trading activity in the past fiscal year. The trading volume increased by 128pct with 18.7 billion birr transacted.
A report from ECX said that all parts of the exchange came together to make the profit happen and that participating members played a huge role.
The 2010/11 budget year report indicated that the volume of commodities traded in the year increased significantly; reaching 500,278 tons from that of 223,000 tons the previous year (2009/10), that is a 128pct increase in volume.
It was also a year where the value of

Read more...

10/17/2011 via Capital Ethiopia in Business (Ethiopian Commodity Exchange)
Draft Directive Weighs on Exporters The Ethiopian Horticulture Development Agency (EHDA) is drafting a new export management directive, which is expected to take effect this month, that changes the unit of measurement of flowers to kilograms as opposed to stems in calculating repatriated foreign exchange. 
10/16/2011 via Addis Fortune in Business (Ethiopian flower industry)
Businesses in Hawassa Start Using Cash Register Machines

East Africa Bottling SC (EABSC), bottler of coca-cola, has appealed to the tax appeal committee under the Ministry of Justice (MoJ) a decision by the Ethiopian Revenues and Customs Authority (ERCA) to pay 13 million Br in back taxes.

10/16/2011 via Addis Fortune in Business (Ethiopian government regulation)
Electricity starts generating dollars for Ethiopia

Capital Ethiopia
After a long wait, the supply of electricity power has become one of Ethiopia’s largest foreign currency earners, fulfilling the aim to make it one of the major foreign currency earners in a short period of time.On Wednesday, October 5, the 283km long Ethio-Djibouti electric power transmission project was officially inaugurated in Djibouti. The 230-kV power transmission line will enable Djibouti to import up to 60-megawatts of electricity from Ethiopia. Ethiopia in return would obtain up to 1.5 million dollars a month from the export of power.“It is now almost four months since we began supplying

10/10/2011 via Capital Ethiopia in Business (Millenium Dam)
Timir Agro Share Company to raise capital to 100 mln birr

Timir Agro Industry Share Company plans to increase its share sales from the current 25 million birr to 100 million birr by May 2012. The company plans the sale of its shares for the various expansion projects and various business activities.
The company has acquired on July 2011, 20 hectares of land from the Amhara regional state in North Shoa Zone Hagere Mariam city near Sheno city 65 km north of Addis Ababa.  The land was given by the government and is to be used by the Share Company for the building of a dairy farm and products a processing

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10/10/2011 via Capital Ethiopia in Business (Ethiopian agriculture)
Lion’s Profit not so Profitable to Shareholders Lion International Bank (LIB) reported a modest increase in profit after tax of 43.7 million Br for the 2010/11 fiscal year; a 10.4pc increase from last year. However, the earning per share (EPS) shareholders would receive decreased by 12.9pc t0 4.4 Br per value of 25 Birr shares.
10/9/2011 via Addis Fortune in Business (Ethiopian banking, Ethiopian banking)
Nyala Motors Requests to Amend Charges against Ex Manager, Daughter

Nyala Motors SC has applied to amend the details of the charges it had brought against its late former general manager, Getachew Kebreselassie, and his daughter, Sehen (MD), for an alleged swindle of 21.1 million Br, claiming it had found new evidence.

10/9/2011 via Addis Fortune in Business (Automobiles)
Capital Ethiopia
Exclusive diaspora units in major public offices

Capital Ethiopia
Major federal ministries and public offices will soon open a unit exclusively dedicated to facilitate investment and other requests from the diaspora as the government aims to have returnees bypass the often chaotic bureaucracy which they complain is driving them away from investing in the country.A full-fledged diaspora policy will also enter the statue books before this European year ends. Deputy Prime Minister and Foreign Affairs Minister Hailemariam Desalegn told members of the Ethiopian diaspora in New York City that the units will soon go operational; a move he said is

10/3/2011 via Capital Ethiopia in Business (Ethiopian diaspora, Ethiopian diaspora)
August Export performance astonishes!

Exports from the manufacturing industry in Ethiopia in the second month of the budget year have recorded an astonishing performance exceeding all previous historical results.
The one month report that was organized by the Ministry of Industry (MoT) for manufacturing exports indicated that the performance has met 97.2% of the target. The August export target was to earn 29.65 million dollars, while the actual export recorded was 28.81 million dollars.
Based on the last export projection and the real earned amount, this record is a historical performance for the manufacturing export sector.
The past year’s the export earnings from

Read more...

10/3/2011 via Capital Ethiopia in Business (Ethiopian economy)
BIG SLICE OF THE CAKE - Habesha Cement signs 1.5 billion birr loan

Eskinder Desta (center), promoter of Habesha Cement, looks jubilant as he shakes hands with Tadesse Hatiya, vice president for credit service of the Development Bank of Ethiopi (DBE) after signing a 1.5 billion Br loan, the single largest financing extended to a private sector company, on Friday, September 30, 2011 at Intercontinental Hotel. The amount is 70pc of the estimated cost of Habesha’s plant. Chinese Northern Heavy Machinery Industries Shenyang Co Ltd (NHI) was awarded the construction of the factory, which will rest at 30 hectare of land in Holeta, 35km, west of the capital in Oromia Regional State. When it starts operation, Habesha will be the third largest private cement producer in the nation next to the state owned Mughar Cement and the Endowment Fund for the Rehabilitation of Tigray's (EFFORT) Messobo, injecting 1.4 million tonnes on annual basis. Ethiopia Electric Power Cooperation (EEPCo) has guaranteed the supply of 25mw of electric power at a cost of 1.7 million dollars for the cement factory to be in operation in 20 months time.

10/2/2011 via Addis Fortune in Business (Ethiopian cement, Ethiopian banking)
Bank Formulates Better Way to Clear High Value Checks The National Bank of Ethiopia (NBE) circulated a procedural letter to Banks on September 19, 2011, to facilitate the speedy exchange and transfer of cheques with amounts greater than 200,000 Br using an interbank payment system, which it is calling SWIFT cheque value transfer.
10/2/2011 via Addis Fortune in Business (Ethiopian banking)
Abiy Worku Assefa

FULL NAME:   Abiy Worku Assefa
EDUCATION:   Certificate in leather
COMPANY NAME:  Abiy leather company
STUDIO TITLE:  General manager  
FOUNDED:   November 2009
WHAT IT DOES:  Produces leather products like jackets and bags
HQ:   Kolfe, Atena Tera infront of
Tamir building  
NUMBER OF EMPLOYEES:   12
START UP CAPITAL:   10,000 birr
CURRENT CAPITAL:   Growing
Reason for starting business:  
I didn’t have good Matric results so I went into business
Biggest plus of ownership: Creating emplo yment opportunity for people.
Biggest strength:  I work nonstop 24 hours to satisfy my clients.
Biggest weakness: I have management problem because

Read more...

9/26/2011 via Capital Ethiopia in Business (Ethiopian entrepreneurship, Ethiopian leather)
Opportunities amid competition

In the beginning of September, the Procurement Reform and Capacity Building Division of the Common Markets for East and Southern Africa convened a meeting to discuss the issue of procurement reforms and market opportunities in the region with both the Ethiopian public and private sector actors in the economy. In the day long business seminar which was aimed at creating awareness about business opportunities available to the member countries of COMESA and to highlight the means available to exploit these business opportunities.The seminar was organized on Thursday September 01, 2011 at the Sheraton. Capital’s Pawlos Belete

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9/26/2011 via Capital Ethiopia in Business
Authority blasts traders about their illegal activity

Ethiopian Commodity Exchange Authority (ECEA), a regulatory body for trading on the exchange floor has blasted on traders at Ethiopian Commodity Exchange (ECX) because they are not following the legal conditions demanded by the terms of the trading.  
The Authority officials who met exchange members a week ago told the traders that the authority will not allow the illegal activities that have been seen on previous occasions.
Belay Namaga, enforcement director of ECEA, told the participants at the meeting held on Saturday September 17 that the authority has given its last opportunity for traders to follow the regulations and

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9/26/2011 via Capital Ethiopia in Business (Ethiopian Commodity Exchange)
7 mln birr showroom for Lifan @ Hawassa

Lifanmotors has opened a new showroom at Hawassa, the third fastest growing city of Ethiopia on September 24, in a rented space of a building. Six months after the opening of its first showroom in Mekele, Tigray Regional State Lifan has officially opened its second regional showroom around Piassa the main road of the capital city of the Southern Nation Nationalities and Peoples Regional State.
In the aim of increasing the availability of Lifan automobiles in the regional states the Hawassa show room includes sales and repairing services. The motor company sells all models of cars in the showrooms

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9/26/2011 via Capital Ethiopia in Business (Automobiles)
Fury is spreading over taxi Tariff increase A taxi tariff increase was made on Monday, September 19. The minimum tariff for a short distance rose from 1 birr 25 cents to 1.40. I spoke to a girl from the Lafto sub city residence who earns a salary of 800 birr working at a private company close to Bole Medhanialem Church, she has this story to tell about the rise in transportation costs: “Already the transportation costs have been exorbitant. My monthly expense is close to 300 birr. But now it has jumped to over 460 birr. I can’t use buses because they are unavailable.”
A public servant, known

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9/26/2011 via Capital Ethiopia in Business
Ethiopia to host first ever tourism, travel fair

Ethiopia is to host the first ever specialized international exhibition in tourism and travel under the motto ‘Tourism for Development’ from June 14-18, 2012 with the expected participation of at least 80 companies from 21 countries from around the world excluding those from South and Central America who are too distant to participate in the fair.  
According to an announcement of Addis Ababa Chamber of Commerce and Sectoral Associations made at a press conference at the Hilton Hotel on September 22, the tourism and travel fair is to be held with a view to introducing Ethiopian tourist attractions to

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9/26/2011 via Capital Ethiopia in Business (Ethiopian tourism)
ZemZem to Appeal Directive on Interest Free Banking

ZemZem, a bank under establishment for the sole purpose of providing an interest-free banking service, is to appeal a directive issued by the central bank, which indirectly forces it to have a conventional banking operation.

9/25/2011 via Addis Fortune in Business (Ethiopian banking)
2004: under construction

Eskinder Desta is the founder and head of Habesha Capital Service. Eskinder and his company have been leading the public share sales of Habesha Cement, Habesha Brewery. He is also a board member and vice chair of the two share companies respectively. Currently he chairs Habesha Construction Materials and Development (HCMD), another share company that has been floating public shares since October 2010. HCMD are now set to invest their funds in real-estate and related construction developments. Capitals’ Muluken Yewondwossen has interviewed Eskinder about the recently formed real estate share company and its expected activity in

9/20/2011 via Capital Ethiopia in Business (Construction)
Zemen Doubles Profits to 94m Br in 2011

Despite a year-long battle with the National Bank of Ethiopia (NBE) over the procedure of its establishment and appointment of board of directors during its second shareholders meeting, Zemen Bank still managed to double its profit after taxes, from 29 million Br to 63.5 million Br in the just- ended fiscal year.

9/18/2011 via Addis Fortune in Business (Ethiopian banking)
Gov’t to Ban Crusted Leather Export

The Ministry of Industry (MoI) has banned the export of crusted leather as of December 2011, due to the scarcity of supplies and price hikes.

9/18/2011 via Addis Fortune in Business (Ethiopian leather)
Excise, Custom Duty Taxes Make Local Textile, Garment Factories Uncompetitive

The Ministry of Industry (MoI) has accepted a proposal to lift the excise tax and reduce the custom duty tax on imported textiles made by the Ethiopian Textile and Garment Manufacturers Association (ETGAMA), Fortune has confirmed.

9/18/2011 via Addis Fortune in Business (Ethiopian textile industry)
Ghion Hotel up for sale once again Ghion Hotel Enterprise, one of the three hotels under the Privatization and Public Enterprises Supervising Agency (PPESA) is up for sale this Ethiopian New Year, along with other 17 public enterprises.
Ghion, the biggest hotel that is currently fully controlled by the government, has been offered for auction before, on different occasions, but so far none of the deals made have been fruitful.
One of the previous deals, which took place in the past budget year (2010/11) was with Ethiopian born Aklile Berhan Mekonnen (Prince) based in Europe. PPESA, the public enterprises regulatory body,  had

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9/14/2011 via Capital Ethiopia in Business
Allana initiates feasibility for Ethiopian potash project - Proactive Investors USA & Canada

Proactive Investors USA & Canada

Allana initiates feasibility for Ethiopian potash project
Proactive Investors USA & Canada
(CVE:AAA) said Tuesday that it has initiated a feasibility study for its Ethiopian potash project. The study, to be taken on by Ercosplan, which completed an update of the NI 43-101 compliant resources on the property in June, will investigate the ...
Allana Potash Initiates Feasibility Study on Its Ethiopian Potash ProjectMarketWatch (press release)

all 10 news articles »
9/6/2011 via Google News in Business (Ethiopian mining)
Ethiopia uncorks a new export with French wine-making partnership

A partnership between the Ethiopian government and French group Castel aims to harvest grapes 170km south of the capital, Addis Ababa. Photograph: Jean-Philippe Ksiazek/Getty Making wine in Ethiopia, when the whole world has seen pictures of famine ...

9/6/2011 via Google News in Business (Ethiopian wine)
Sisay Gebeyehu Tsegaye FULL NAME: Sisay Gebeyehu Tsegaye
EDUCATION: I have a diploma in computer science.
COMPANY NAME: SISO computer maintenance and assembly
STUDIO TITLE: I am the founder
FOUNDED: In September  2009
WHAT IT DOES: SIt maintains and
assembles computers.
HQ: SAddisu Gebeya,
Total near the Tsion hotel
NUMBER OF EMPLOYEES: Three
START UP CAPITAL: 100,000 Birr
CURRENT CAPITAL: Double
Reason for starting business: 
I saw a demand for the business in the market.
Biggest plus of ownership: I feel satisfied by what I do.
Biggest strength: I focus on satisfying the

Read more...

9/6/2011 via Capital Ethiopia in Business (Ethiopian entrepreneurship)
Ethiopia ranks 6th largest coffee-producing country The latest report by the United States department of agriculture puts Ethiopia as the world’s 6th largest coffee producer for the 2010/11 crop year. According to the report, Ethiopia has produced about 4,400 bags of coffee (264,000kg).the top five coffee producing countries in the list are Brazil (54,500 bags),Vietnam (18,725 bags),Colombia (9,500 bags),Indonesia (9,325 bags) and India (5,100 bags).Ethiopia is followed by Honduras (4,000 bags), Peru (4,000 bags), Guatemala (3,910 bags) and Mexico (3,700 bags).Late in July the government of Ethiopia declared that the country had earned 841.6 million dollars from the export of about 200,000 tons of coffee in

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9/6/2011 via Capital Ethiopia in Business (Ethiopian coffee)
It’s Tea Time Mr. Saneer Gurung is deputy general manager of  McLeod Russell India limited based in Kolkata, India, a company which has been growing tea since 1869 and claims to be the largest producer of black tea in the world. The company also claims to be the largest Indian tea exporter with ever strengthening capital connections to buyers in Europe, Middle East and North America. In this exclusive interview he spoke with Capital’s Elias Gebreselassie about the purpose of his visit to Ethiopia and his company’s business activities.

Capital: Tell us about McLeod Russell India limited?
Saneer

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9/6/2011 via Capital Ethiopia in Business (Ethiopian tea)
Planned leather exports: 206 million dollar By Elias Gebreselassie
Ethiopia plans to export 206 million USD worth of leather goods in the 2011/12 fiscal year. That is  almost twice the amount of money it received last year, when it earned only 104.1 million of the 180.4 million dollars it hoped to get from leather exports.  To meet the new goal, the institute hopes to make a lot more shoes; 54,000 per day instead of the current 19,000. 
Wondu Legesse director general of the Leather industry development institute (LIDI) said Ethiopia’s export target this fiscal year achieved only 73pc of what they had hoped. He said factories

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9/6/2011 via Capital Ethiopia in Business (Ethiopian leather)
Ethiopia's Premium Coffee Exports Threatened by Exchange

Ethiopia's Premium Coffee Exports Threatened by Exchange
Washington Post
1 (Bloomberg) -- Ethiopian coffee beans are being shunned by boutique US roasters and retailers because the rules of the Ethiopian Commodities Exchange make it impossible to know where most of the nation's beans are grown. ...

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9/1/2011 via Google News in Business (Ethiopian coffee)