Government to Spend Billions on Common User Items



The Public Procurement & Property Disposal Service has issued a tender to buy one billion Birr worth of common user items for all governmental institutions and branch offices. The Service will purchase the items unde...


Import Substitution Gets Boost from New Directive


An amended directive came into effect earlier this month, which adjusts the tax schedules under which manufacturers import their raw materials and inputs. It was released on March 10, 2017, and sets out the requiremen...


Rise in Food Prices Push Inflation over Gov’t Target


Rising food prices pushed headline inflation beyond government targets in March, hitting 8.5pc, the highest level since February last year. This rate means that the government has maintained inflation in the single digit...


Authority’s Rental Expense Spikes Post-Flood


The Addis Abeba Qality Branch Office of the Ethiopian Revenue & Customs Authority (ERCA), has moved its office to other premises following flooding that damaged thousands of files in its previous location. The move h...


Wegagen’s Share Auction ‘Financially Sensible’


Wegagen Bank S.C’s share auction has attracted offers almost 43pc of the Bank’s par value, selling around 11,000 shares. The auction was held on April 3, 2017. In total, Wegagen made around 92,000 shares available fo...


Hiber Sugar Resurrects Itself


Hiber Sugar S.C, which has yet to produce a kilo of sugar, but it has once again escaped from liquidation. The shareholders of the Company met on Saturday, April 1, 2017, to decide its fate. During the meeting, the sh...


World Bank Bankrolls Modjo Dry Port with $150m


The World Bank has approved a 200 million dollars loan for Ethiopia, of which three-fourth is to be used to expand the capacity of Modjo Dry Port, 73Km east of Addis Abeba. The Ethiopian Shipping & Logistics Service...


Stalled Center Gets Fresh Start


The long-delayed Addis Africa International Convention and Exhibition Centre (AAICEC) project has been awarded to a Chinese firm, CGCOC GROUP CO. Ltd, which won the bid for the construction of its first phase. The Boa...


Donkey Meat Up for Export, Slaughterhouse Opens


Ethiopia is to export donkey's meat, following the start of operations at a slaughterhouse in Bishoftu (Debrezeit) town, 48Km east of Addis Abeba. Shandong Dong, a donkey slaughterhouse, has just opened after 80 milli...


Dashen Keeps Auction Under Wraps


Dashen Bank has held an auction of 2.1 million Br worth of shares late last week, seeing the highest offer of 5,050 Br for a share, which is just over five times the par value of the Bank’s shares. The Bank had 2,13...


Opposition Averse to Extension of Emergency Decree


The government’s decision to extend the state of emergency for another four months makes “no sense” according to opposition leaders. The government cited some “worrisome” situations with some regional states, a...


Ministry Requests Urgent $251m Loan


The Ministry of Agriculture & Natural Resources has requested an urgent 251 million dollars loan from the National Bank of Ethiopia (NBE), which will be used for the purchase of agricultural inputs. The money was...


Zemen Auction Tax Sale for Twice the Par Value


Zemen Bank S.C. held a tax sale of 25 shares belonging to one of its shareholders on March 30, 2017. The auction attracted a highest offer of 2,000 Br per share for all the shares. While the auction was not part of th...


Homebuyers Loom to Takeover Access’s Plot


The government is expected to give a final decision in the next few days regarding whether homebuyers of Access Real Estate (ARE) can lease the plots on which ARE was building. If they get the approval, the homebuyers wi...


US Embassy Clears Visa Rumours


The Embassy of the United States in Addis Abeba issued a statement assuring Ethiopians on March 29, 2017, that there are no limitations imposed on the number of visas issued by the Embassy, contrary to widespread rumours...


Gov’t to Relocate Kombolcha Dryport


The Ethiopian Shipping & Logistics Service Enterprise (ESLSE) has received 35ha of land to relocate the Kombolcha dry port. The reason for the relocation was the distance of the previous dry port from the city cen...


Editorial

Last week saw a series of events where the political bigwigs from the f...


Agenda

The cement industry in Ethiopia, although still largely untapped, is se...


Fineline

It is unusual for a federal agency to get estranged...


Commentary

Recently, the National Bank of Ethiopia (NBE) had announced the mandato...


Viewpoint

Neglected Tropical Diseases (NTDs) disproportionately affect women and...


Opinion

Until very recently, Turkey was a proudly democratic Middle Eastern cou...


View From Arada

We often underestimate the importance of time managiment. Especially in...


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