Latest News in Brief


ET Chief Receives Leadership Award

The Board of Directors awarded Tewolde Gebre-Mariam, chief executive officer (CEO) of the Ethiopian Airlines, for his exceptional leadership, dedication and hard work, according to a press release from the Ethiopian Airlines. Ethiopian, within the last few years, is registered as the leading airline in Africa and 18th and 37th in profitability and revenue, respectively, in the world.

Addisu Lgesse, Board Chairperson, after expressing his delight on the great performance of the company under the leadership of Tewelde and the dedication of all employees, notified that the contribution of the company to the country’s economic development is of great vitality and should be sustained.

Publication: The Ethiopian Herald, July 23, 2014


Rubber Tree Plantation Gets Momentum

The national rubber tree development project announced that foreign investors and local farmers are becoming more interested to participate in rubber trees production. In this summer, 17 farmers requested the project to plant more than 60 thousand rubber trees, and thus, 300ht of land is prepared for the plantation of the tree, according to Dawit Mesfin (PhD), chief executive officer (CEO) of the project. The full implementation of the project will reduce the country’s expenditure for tire importing and increase profit gain by the export of products, said Dawit. Currently, many foreign investors are showing interest towards the project and are gathering information thereof, he said.

Publication: Addis Zemen, July 23, 2014


Manufacturing Performance less Target Yet Improving

The Ministry of Industry (MoI) announced that the revenue attained from manufactured products, though below 50pc of the set target, has grown fourfold – from 118.4 million dollar to 400 million dollar– as compared to the two years back performance. This performance, according to the Ministry, shows the country’s competitiveness in the manufacturing sector and brings the country to a strengthened technology transfer.

The Ministry explained that the industrial sector, despite the achievements, faced limitations in providing services in logistics, customs, and finance related services. To address these problems, measures taken through the evaluation of incentive systems and their continuous implementation, and this helped the sector improve its contribution to the country’s overall economy from 18pc in 2003 to 21-23pc in this year, 2014.

Publication: The Ethiopian Herald, July 23, 2014


Nile Petroleum Moves Its Head Quarter to Ethiopia

Nile Petroleum Company announced that it is moving its head quarter from Sudan to Addis Ababa, Ethiopia. The reason behind this is the existence of high market demand in Ethiopia and other East African countries, according to the Company. Ethiopia alone consumes 16 thousand tones of benzene, which covers 90pc of the national demand, from Nile.

The Company has planned to increase the number of petroleum stations in Ethiopia from 12 to 24 and to augment investment projects in the country.

Publication: Addis Zemen, July 22, 2014


Network Problem Challenges Residents, Businesses at Debre Berhan

The residents of Debre Berhan town complained over the repeated network disruption. They couldn’t get banking and phone services properly, according to the residents. Service providing firms, including hotels, banks and internet cafes, are facing critical challenge in the service provision.

As the residents and service providing entities noted, this problem was frequently reported though their effort was in vain. Abdurahim Ahmed, corporate communication manager at ethio telecom, confirmed that network interruption in the town is certain. The expansion project, which is underway at the national level, would hopefully solve the problem soon in a sustainable manner, he said.

Publication: The Ethiopian Herald, July 22, 2014


Published on July 27, 2014 [ Vol 15 ,No 743]



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