Blog Archives

Passport Tease

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Posted in Business, Ethiopian News

Task Force Emerges to Revamp Tax Regime

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Posted in Business, Ethiopian News

State Bank Undergoes Major Reshuffle

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Posted in Business, Ethiopian News

Authority Eases Registration, Licensing for Medicine

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Posted in Business, Ethiopian News

Police Maintain Custody of Ex- MetEC CEO, Brother

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Posted in Business, Ethiopian News

Nation’s Second Toll Road Nears Completion

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Posted in Business, Ethiopian News

Nation Launches Migrant Monitoring Database

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Posted in Business, Ethiopian News

Court’s Injunction Temporarily Lifts Nile’s Frozen Accounts

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Posted in Business, Ethiopian News

Agency Takes Power of Attorney Services Online

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Posted in Business, Ethiopian News

Police Arrest Second Suspect in Awash Bank Robbery

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Posted in Business, Ethiopian News

Authority Renovates Ambassador Park

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Posted in Business, Ethiopian News

Wegagen Scores Massive Profit but Leaves Some Shareholders Questioning

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Posted in Business, Ethiopian News

Divestment Burgeons United’s Performance

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Posted in Business, Ethiopian News

DIPLOMATIC CHARM

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Posted in Business, Ethiopian News

United Secures Disputed Multi-Million Birr Insurance Deal

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Posted in Business, Ethiopian News

Eth-Switch Gets Second Boss, After Half Year

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Posted in Business, Ethiopian News

Judges Grant Police Custody Right of MetEC Officials

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Posted in Business, Ethiopian News

Unpaid Workers  Hold Indians Hostage

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Posted in Business, Ethiopian News

Nation to Recieve National Soil Information Centre

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Posted in Business, Ethiopian News

Liquor Company Rises to Meet Demand for Bottling Caps

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Posted in Business, Ethiopian News

Planners Debate Fate of Africa’s Political Capital

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Posted in Business, Ethiopian News

Local Leather Firm Branches out to Washington, D.C.

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Posted in Business, Ethiopian News

Chinese Firm Seals Deal to Install Bus Shelters

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Posted in Business, Ethiopian News

Lucy Bolsters Yield for Third Year

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Posted in Business, Ethiopian News

Real Estate Firm Selects Architects to Design 25-Storey Complex

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Posted in Business, Ethiopian News

New Jute Sack Factory Joins Market

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Posted in Business, Ethiopian News

Abyssinia Hikes Profit, But Dividend Goes Cold

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Posted in Business, Ethiopian News

THE BET ON DEMOCRACY

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Posted in Business, Ethiopian News

Central Bank Eases Filing Requirements

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Posted in Business, Ethiopian News

MetEC Receives Third Boss

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Posted in Business, Ethiopian News

MetEC Receives Third Boss

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Posted in Business, Ethiopian News

Renegotiation Brings Back La Gare Eagle Hills Project

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Posted in Business, Ethiopian News

PetroChina Lands Low Bid to Freight Nation’s Petroleum

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Posted in Business, Ethiopian News

Addis Gets Two Bus Depots for 1.3b Br

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Posted in Business, Ethiopian News

Authority Plans to Digitize Transport, Traffic Mang’t Systems

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Posted in Business, Ethiopian News

Authority Plans to Digitize Transport, Traffic Mang’t Systems

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Posted in Business, Ethiopian News

AfDB Endows Ethiopia with $123m

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Posted in Business, Ethiopian News

Trade Bureau to Launch Online Registration, Easing Hassles

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Posted in Business, Ethiopian News

Trade Bureau to Launch Online Registration, Easing Hassles

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Posted in Business, Ethiopian News

Berhan Posts Slight Profit Increase

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Posted in Business, Ethiopian News

Judges Order Police to Bring Investigation Evidence on Ex-Security Deputy Head

Judges at the Federal High Court have ordered Police to present preliminary evidence showing probable cause from their investigations on Yared Zerihun, former deputy director of the National Intelligence & Security Service (NISS) who is suspected of alleged human rights abuse. A panel of three judges of the 10th Criminal Bench of Lideta Division has ordered Police to file their investigative evidence after they appear before the Court without them. Yared was arrested on November 14, 2018, suspected of human rights abuses. Police claimed that Yared was allegedly involved in a violation of human rights of detainees suspected of being members of former dissident groups. Police also said Yared has allegedly did that receiving orders from his former boss, Getachew Assefa, who was director general of NISS. Police reported that Yared was arrested at one of the hotels in Dukem
Posted in Business, Ethiopian News

Federal Judges Deny Bail Rights to an Official, a Businessman in MeTEC Probe

Judges at the Federal High Court of 10th Criminal Bench have denied the bail request of Assefa Yohannes (Col.), head of Ethiopia Power Engineering Industry of MetEC, who was suspected of grand corruption case. The Judges have granted police 10-days for further investigation. Yohannes, who was represented by a public defender, was arrested on November 14, 2018, and was suspected of corruption in relation to the Tana Beles I Sugar Project. Police claim that he gave the project to a Chinese firm for 49.9 million dollars but later amended the contract to 55.6 million dollars. Police also said the Chinese company abounded the project, progressing 55pc and taking the full payment. This led the government to enter a contract with another company, worth 6.4 million dollars in an effort to finalise the project, according to Police. The Judges also granted
Posted in Business, Ethiopian News

FOR THE REGION, BY THE REGION

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Posted in Business, Ethiopian News

Wonji Sugar Factory Up for Privatisation

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Posted in Business, Ethiopian News

The Presumption of Innocence Before the Courts Establish Guilt

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Posted in Business, Ethiopian News

Water Pours From 1.2b Br Wells in the City

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Posted in Business, Ethiopian News

Gov’t Invests in Standard Agency’s Training Academy

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Posted in Business, Ethiopian News

World Bank Restores “Trust” with Ethiopia’s Gov`t

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Posted in Business, Ethiopian News

Debub Unveils New Premium Branch

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Posted in Business, Ethiopian News

Chinese Firm to Supply Satellite Receiver

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Posted in Business, Ethiopian News

Digata Hands Over Soil Test Center

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Posted in Business, Ethiopian News

United’s Deal to Insure Domestic Workers Faces Protest

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Posted in Business, Ethiopian News

The Consumer Continues to Pay the Price

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Abay Bank Emerges with Outstanding Performance

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Posted in Business, Ethiopian News

Staff Sue Abay Radio For Unpaid Salaries

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Posted in Business, Ethiopian News

Suspects of Corruption Probe, Alleged Human Rights Abuse Appear Before a Judge as Late as 9pm

A Court has denied 64 suspects the right to bail when federal police brought them before a federal judge at the 10th Criminal Bench of Lideta Division, as late as 9:00pm today. Among the suspects are 28 employees of the state owned military-industrial complex, Metal & Engineering Corporation (MetEC), including its deputy CEO, Tena Kurunde (B. Gen). The remaining are from the Federal Police, national security and intelligence agency and prison administration. All but two of the suspects have appeared before the court, after they were arrested late last week. One of the suspects, Mulu Woldegebriel (Col.), was arrested near Awash town, according to police. The two suspects – Chernet Adane and Gebremedhin Gebresellasie (Let. Gen) – remain at large, says police. Adanech Tessema, a spouse of Yared Zerihun, former deputy head of national intelligence, is among the suspects brought
Posted in Business, Ethiopian News

Fed Begins High Level Probe on Corruption Allegations

Police have arrested 63 individuals, 27 of which are suspected of alleged corruption, Berhanu Tsegaye, the attorney general, confirmed at a press briefing broadcast live today. The entire investigation took five months before the Federal Police began making arrests last Friday. He also highlighted several of the alleged corruption details he claimed were committed by former senior management members of the state owned Metals & Engineering Corporation (MetEC). In one case, a 37-billion-Br procurement was made without a mandated bidding process, the Attorney General said. In another case, he alleged that MetEC carried out a local procurement worth 205 billion Br without a bidding process. MetEC also paid multiple times for a single procurement, according to Berhanu. MetEC was engaged in repeated procurements from single suppliers without competitive bidding, which is against the law, the Attorney General alleged.
Posted in Business, Ethiopian News

FOR WOMEN AND PEACE

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Posted in Business, Ethiopian News

Central Bank Lifts Principal Payments on Arrears

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Posted in Business, Ethiopian News

House Stands Ground on Standing Committee Chairpersonship

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Posted in Business, Ethiopian News

DP World Takes China Merchants to Court

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Posted in Business, Ethiopian News

Oromia Bank’s Performance Surges

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Production of Liquid Organic Fertiliser Commences

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Posted in Business, Ethiopian News

Enterprise Opens Petroleum Bid

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Headline Inflation Steps Down for Third Consecutive Month

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Global Insurance Improves Profit, Reduces Claims

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Posted in Business, Ethiopian News

Ethio Water to Join Flourishing Market

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Posted in Business, Ethiopian News

Electrical Manufacturers Form Professional Association

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Posted in Business, Ethiopian News

Parliament Approves Eight Standing Committee Chairs, Denies Motuma Meqassa

Parliament refused to accept the nomination of Motuma Maqassa, the former minister of Defense, and Atsebeha Aregawi to chair the International Relation & Peace and the Revenue, Budget & Finance standing Committees, respectively. The parliament went on to approve eight of the 10 standing committee chairs. This included Fozia Amin, former minister of Culture & Tourism, to chair the Legal, Justice & Democracy Affairs Standing Committee. The post was previously to go to Amanuel Abraham, deputy government whip, but faced resistance from MPs in parliament’s last Tuesday session. The parliament will fill the remaining two positions in its next assembly.
Posted in Business, Ethiopian News

Sahle-worq on Second Foreign Visit after Presidency

President Sahle-worq Zewdie, Ethiopia’s first female President, arrived in Johannesburg today to attend the first investment forum for Africa that its organisers insist is more “transactional” than an event. It is her second foreign trip after her appointment in October as president and head of state. Sahle-worq’s first visit was to South Sudan, just a few days after her assumption of office. Upon her arrival to Johannesburg late yesterday, she was greeted by South Africa’s President, Matamela Cyril Ramaphosa; and Dlamini Zuma (PhD), former head of the Africa Union (AU), who welcomed her with an emotional and overwhelming hug. Sahle-worq and a number of other heads of state and prime ministers are attending the forum from across Africa, where six of the 10 fastest growing economies are located. The continent has an average of three percent GDP expansion which is
Posted in Business, Ethiopian News

ALL SMILES, LIFELINES

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Posted in Business, Ethiopian News

NBE Outlaws Pending Under-invoiced Import Clearance

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United Insurance Seals Deal, Ensures Overseas Employees

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Posted in Business, Ethiopian News

Reach-Stackers in Pipeline to Relieve Port Congestion

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Posted in Business, Ethiopian News

Nation Integrates Third-Party Liability Motor Insurance

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Nation Receives Another Round of WB Financing

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Awash Insurance Boosts Profit, Capital

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Agency Born to Regulate Construction Industry

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Lideta Civil Bench Relocates, Rents New Facilities

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ECX Brings Two Commodities Onboard

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TACON-built Gov’t HQs Collapses

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United Welcomes Female Vice President

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Plastic Factory Expands with DBE’s Bolstering

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Salt Producers Join Hands to Curb Iodine Deficiency

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Federal Supreme Court Vice President Announced

Prime Minister Abiy Ahmed (PhD) has nominated Solomon Areda as vice president of the Federal Supreme Court. More to come.
Posted in Business, Ethiopian News

Comm’n on Environment, Climate Gets New Boss

The newly formed federal commission in charge of the environment, forestry and climate change has a new boss in Fekadu Beyene (Prof.), former minister of Livestock & Fisheries. His appointment by Prime Minister Abiy Ahmed (PhD) is effective as of October 22, 2018. The Commission, which went through a restructure during the latest cabinet reshuffle two weeks ago, has been under the leadership of Gemedo Dale (PhD) and Shiferaw Teklemariam (PhD) since it was formed as the Ministry of Environment, Forest & Climate Change in 2015. The Commission will report to the Office of the Prime Minister, according to the new restructuring. Fekadu, a food scientist and technologist, has previously served as president of the Ethiopian Civil Service University and Welega University.
Posted in Business, Ethiopian News

Central Bank Governor Becomes ECX’s Board Chairperson

Yinager Dessie (PhD), governor of the National Bank of Ethiopia (NBE), has been appointed the board chairperson of the Ethiopian Commodities Exchange (ECX), replacing Sani Redi. The newly formed ECX board of directors has 11 members, of whom six are from government offices while the remaining are from the private sector. The new board of directors includes Getahun Mekuria (PhD), minister of Innovation & Technology; Abdisa Yadeta, director general of the Federal Transport Authority; Haileyesus Bekele, president of the Development Bank of Ethiopia; and Abebe Abebayehu, an advisor to the Prime Minister. Abdela Bagerish, general manager of SA Bagarish, one of the leading coffee exporter companies, has also been re-elected to the board of directors, representing the business community. Established a decade ago, ECX mainly trades agricultural commodities with its central trading system. It also provides services such as warehouse
Posted in Business, Ethiopian News

Premier Appoints Beyene to Head Public Enterprise Agency

Prime Minister Abiy Ahmed (PhD) has appointed Beyene G. Mesqel, an experienced hand in the sector, as a director general of the newly restructured Public Enterprises Holding & Administration Agency (PEHAA). Beyene was formally a state minister for the Public Enterprise Ministry which went through a restructure during the recent cabinet change in 2015. Before receiving his appointment as a state minister for the Ministry he was a long-serving Director General of the Privatisation & Public Enterprises Supervising Agency (PPESA). The Ministry of Public Enterprises, which was upgraded from the PPESA in 2015, has been under the leadership of Demitu Hambissa, Girma Amente (PhD) and Teshome Toga, consecutively. The recent restructuring has seen the Agency report to the Ministry of Finance. Prime Minister Abiy has also appointed Habtamu Hailemicahel as a deputy director general of the Agency as of October
Posted in Business, Ethiopian News

Your Turn, Madam President!

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Central Bank Fines Seven Banks for Failing to Train Staff

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Private Sector Promise for Biofuel

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The 71-year-old Chamber Elects First Female President

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City Merges River Revitalization Projects

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United Posts High Profits, Moderate Share Earnings

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Wub Water to Hit Market in Month

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Ministry, Consultant Quarrel Over Research Ownership

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Authority Awards the Year’s Largest Road Project

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Haile Resorts Expands to Gonder

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National Parks Receive New Management Plan

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Sahleworq Zewde Unanimously Voted In as President

Parliament has unanimously approved the presidency of Sahleworq Zewde. Sahleworq was a career diplomat for Ethiopia and served as an ambassador to Djibouti and France. She was also a senior staff member for the United Nations based in Nairobi and has recently been stationed in Addis Abeba. She resigned from her job at the United Nations this week ahead of her appointment. She is the fourth president of Ethiopia since the constitutional order was installed in the mid-1990s. She replaces Mulatu Teshome (PhD), who has tendered his resignation following his four-year stint as president.
Posted in Business, Ethiopian News

Mesenbet Becomes First Female President of City Chamber

ROLLING COVERAGE 5.31PM: Mesenbet Shenkute, former president of Abay Bank, becomes the first female president of the Addis Abeba Chamber of Commerce & Sectoral Association by winning  419 votes. Selahedin Kelifa, president of Ethiopian Freight Forwarders & Shipping Agents Association, was the runner-up with 276 votes. The Association has also elected Abebaw Mekonnen as vice president along with nine board directors.   4.17pm: Two well known business personalities, Mesenbet Shenkute, former president of Abay Bank, and Selahedin Kelifa, president of Ethiopian Freight Forwarders & Shipping Agents Association, are running for presidency of the Addis Abeba Chamber of Commerce & Sectoral Association. The President, to be announced in hours, will replace Elias Geneti, who served the metropolitan trade lobby for two terms in a row. The committee formed for the election process is counting the votes from the members of the
Posted in Business, Ethiopian News

President Mulatu Teshome (PhD) Resigns

Mulatu Teshome (PhD), who has been serving his country as a president for the past four years, has tendered his resignation to a joint session of both legislative houses today. His resignation was accepted by both houses.
Posted in Business, Ethiopian News

NEW CABINET, NEW MOTION

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MetEC Loses Another Mega Project

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New Procedures Intercept Tax Exemption Abuses

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‘Competence, Gender Constitute’ Cabinet

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Orchid Loses Fierce Court Battle Over Machinery

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Parliament Digitalises Operations

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Corporation Swallows Product Supplier

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Nib Picks Contractor for HQ after Three Tries

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Agency Inks Pact to Break Ground on 25 Silos

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One Water Ploughs into Expansion

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Ethiopia Regulates Lead-Based Paints

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Conte Bears Peace, Dev’t

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Ethiopia Treads into Nuclear Energy

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MetEC to Start Afresh with New Name

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MetEC to Start Afresh with New Name

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Berbera Port Expansion Kicks-off in Ethiopia’s Absence

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Ministry Lifts Quality Inspections of Solar Products

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Ministry Lifts Quality Inspections of Solar Products

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Enterprise Extends Contract Period for TACON

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Enterprise Extends Contract Period for TACON

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Wegagen Fronts 98.8m Br to Digitise HQs

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Trio Link Up to Develop High-end Real Estate

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Regional Labour Union Comes to Life

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Transport Employers Jump-start Federation

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Bureau Terminates 84 Mining Concession

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Bureau Terminates 84 Mining Concession

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In the Absence of Founding Fathers

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Headline Inflation Slides Despite IMF’s Worry

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Former Dam Chief Back in Driver’s Seat

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Dedicated Talent Academy Crops up in Burayu

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Oldest University Set to Curb Plagiarism

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Nahoo Launches First Shopping Channel

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Censorship Over for Theaters, Films: Producers Rejoice

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Finance Ministry Integrates Financial Systems Across Institutions

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Local Firms Edge Out Competition to Build Terminal, Training Center

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Abiy Ahmed (PhD) has been reelected to chair the ruling EPRDF

Abiy Ahmed (PhD) has been reelected to chair the ruling EPRDF, carrying an overwhelming landslide victory of 176 votes from 177 council members. His deputy, Demeke Mekonnen has been reelected to the deputy chairman position with 149 votes, running against Debretsion Gebremichael (PhD), who has received 15 votes. In April this year, Abiy had won 105 votes, against Demeke’s 63 and Debretsion’s two.
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Development Bank’s Bad Loans Reach High

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Commercial Bank Reshuffles Top Brass

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IMF Hails Ethiopia’s Reforms, Remains Optimistic

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Ethics Commission to Oversee Liaison Officers

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Central Bank Bumps-up Board Remuneration Caps

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Antex Weaves its Way into Adama Industrial Park

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Authority Lifts Fines on Diaspora with Expired Visas

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Reshuffle Visits Fire, Emergency Prevention Authority

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Transport Authority Joins E-Service Platform

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For the Horn and Beyond

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Holiday of Bonfires

Mired in political tensions, Ethiopians across the country celebrated Mesqel on Thursday, September 27, 2018, the annual festival of the faithful believe is the finding of the true holy cross of Christ. The most iconic part of the holiday is Demera, where a large pyre constructed with a cross mounted on its top is lit on fire on the eve of the festival. In the capital, tens of thousands of people wearing traditional white dresses gathered in the late afternoon at Mesqel Square. They were joined by hundreds of priests and deacons in white robes carrying large crosses and decorated umbrellas and by debteras, choir members of the Ethiopian Orthodox Church, who sing the ancient chants and dance to perform rites from antiquity to the accompaniment of drums, prayer sticks and sistrums. Considering the bouts of violence Addis Abeba as
Posted in Business, Ethiopian News

Peace Dividend

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Planners to Bless Mega Projects Before Kickoff

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Mulegeta Becomes Bunna’s Fourth President

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Gov’t to Ban Livestock Export, Favours Processing

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Ministry Formalises Steel Structure Work Operations

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Board Compels PLCs Adopt Accounting Standards

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Nation Greets its 12th Steel Mill

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Small Businesses Graduate to Medium Enterprise Status

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Classy Water Courts Controversy, Ceases Production

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City Sets Deadline to Register Street Vendors

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Ex-CBE Executive Takes Helm at Bunna Bank

Regulators at the National Bank of Ethiopia (NBE) have approved the appointment of Mulugeta Alemayehu, former vice president of the state owned Commercial Bank of Ethiopia (CBE) as the new President of Bunna Bank, as of September 12, 2018. He is the fourth president of Bunna since its inception in 2008, following in the footsteps of Tadesse Chinkel, Eshetu Fantaye and Negede Abebe. Mulugeta replaced Tadesse, who had been running Bunna as president since 2017. Bunna will retain Tadesse as an advisor to the new President. Mulugeta has a Master’s of Business Administration and 19 years of experience in the banking industry. He earned his first degree in accounting and finance. Mulugeta was a Chief of Businesses at CBE before he moved to Bunna. He also used to work as the Chief Risk & Compliance Management Officer at the giant
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Show of Force

In keeping with a long line of opposition parties returning home, the leadership of the Oromo Liberation Front (OLF) touched ground in Addis Abeba on Saturday, September 15, 2018. Led by its Chairman, Dawud Ibsa, the leadership was greeted by a massive crowd that lined the streets of Addis Abeba from Bole International Airport to Mesqel Square. Traffic was closed along the way, and even the Addis Abeba Light Rail Transit paused its trains for the first time since it began service in September 2015. It was not, however, the first time the OLF’s rebel leadership held a rally for its supporters at Mesqel Square. In 1991, the OLF leadership led by Gelasa Dilbo was welcomed when the OLF joined the EPRDF to form the transitional government. Throughout the past week, a welcoming ceremony was planned, with supporters hanging flags
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DONE DEAL

Ethiopia hosted the 33rd extraordinary summit of the Intergovernmental Authority on Development (IGAD) on Wednesday, September 12, 2018. It was attended by the heads of state of Djibouti, Uganda, South Sudan, Sudan, Somalia and Kenya, with Prime Minister Abiy Ahmed (PhD) chairing. The summit addressed two main issues up for discussion: the ongoing peace process between South Sudanese factions and Eritrea’s re-entry into IGAD after an absence of almost a decade. The South Sudan issue upstaged the event, however. The two leaders of the warring parties in the civil war, President Salva Kiir (left) and his former vice president, Riek Machar (PhD), signed a revised peace agreement to resolve the South Sudanese civil war that has raged for half a decade. Hundreds of thousands are believed to have died, millions displaced and almost half the population has been left at
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Ethio-Eritrean Border Re-opening Fuels Trade

Following the normalisation of Ethio-Eritrean relations and reopening of the border, business activities at the boundary towns are flourishing after two decades of standoff. Major trading activities have been taking place in Zalambessa, Adigrat and Meqelle, Trade activities have been taking place since last Wednesday, September 12, 2018, a day after Prime Minister Abiy Ahmed (PhD) and President Issaias Afeworqi reopened the crossings along their shared border. Eritreans have been marching to these towns to buy cement, bricks, macaroni, spaghetti, hardwood, teff, pepper powder and other commodities and merchandise. Ethiopians are also buying products such as televisions, mobile phone devices and livestock by travelling as far as the capital Asmara. “We started seeing many vehicles with Eritrean plates moving around in Adigrat on Wednesday,” said Muluberhan G. Wahid, a resident is Adigrat. “Most of them were loaded with commodities and
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Nation’s First Drone Soars High

The Ministry of Science & Technology has successfully launched its first drone, carrying cargo weighing five kilograms and flying at 5,000m altitude. The Ministry invested four million Birr in the pilot project, planning to use the drones to distribute medical equipment and supplies to remote areas of the country. “Our team did the full drone design,” Getahun Mekuria (PhD), minister of Science & Technology, told Fortune. “And some of the components and its engine were manufactured and imported from genuine suppliers.” The drone, assembled with components from China and an engine from the United States, can fly up to 120Km an hour. The drones will deliver medical supplies running in autopilot mode from dispatch centres to be located in Addis Abeba, Meqelle, Hawasa, Jima, Dire Dewa and Bahir Dar the drones, and will operate in an area that covers a
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Ministry Fast-tracks Manufacture of Medical Equipment

The Ministry of Science & Technology is planning to initiate manufacturing of medical equipment in six months and a national steering committee has been formed to implement the plan. The goal is to save the two billion dollars worth of annual foreign currency expenditures on imported medical equipment and to improve current maintenance capacities. The professionals in the biomedical and engineering field are unwilling to engage as maintenance experts, according to Getahun Mekuria (PhD), minister of Science & Technology. To address this, the Ministry wants to link the production of the equipment to maintenance efforts. “If we build up production capacity in Ethiopia, we will address the maintenance issue,” Getahun told Fortune. The national steering committee is made up of 15 members and three subcommittees, of which one will be responsible for the study of policies that can enable the
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New 10b Br Convention Centre to Rise in Addis

The Addis Abeba City Administration plans to invest over 10 billion Br for a new exhibition and convention centre to be built in the heart of the capital. The Convention Centre will occupy nearly 10ha of land encompassing a 24,000sqm area that is owned by the Exhibition Center & Market Development Enterprise at Mesqel Square. The project will be the largest conference and exhibition place in the city, replete with conference halls, a “seven-star” hotel, a flexible exhibition centre and a parking lot that accommodates over 2,500 vehicles. The centre will also feature a museum inside its premises according to the plans. The planned auditorium and conference halls will sprawl over 17,000sqm, while the total area designated for conference and exhibition space is 57,000sqm. The halls are designed to accommodate flexible spaces ranging from 4,000sqm to 12,000sqm. “While the demand
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Two Firms Place Lowest Offers to Supply Nation With Wheat

Amid shortages of wheat supply in the market, the government is spending 1.37 billion Br to procure 155,000tns of wheat. The wheat was tendered under two schemes by the Public Procurement & Property Disposal Service, and the commodity will be distributed to beneficiaries under the fourth phase of the Productive Safety Net Program launched in 2005. The program was designed to enable the rural poor facing chronic food insecurity to overcome shortages, create assets and become food self-sufficient. The Program operates in Afar, Amhara, Dire Dawa, Harare, Oromia, SNNP, Somali, Tigray regional states and Dire Dawa city administration zone  and reaches up to eight million food-insecure people annually. The programme, which will remain active until 2020, will spend three billion dollars a year, out of which the Government of Ethiopia funds 14pc, and the rest is covered by World Food
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Tourism Bureau to Switch New Library Location

The Addis Ababa City Administration Culture & Tourism Bureau is pondering switching the location of its planned central library from the current location in Yeka District to a new location in Arada District. The construction of the library, estimated to cost 200 million Br, was expected to commence this fiscal year on a plot that the Bureau secured on the premise of Dejazmach Wendrad School in Yeka District, off Asmara Road. The Bureau was in the final stages of announcing a tender for the construction when it reconsidered the project. The Bureau is revising the initial plan with the aim of moving the central library to Arada, in front of Hager Fikir Theatre on John Melly Street. The area has been cleared by the city administration after relocating the residents in the area. Last month, the Bureau received Nebiyu Baye,
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City Code Enforcement Officers to Don New Uniforms

The city administration invested close to five million Birr to redesign the uniforms of 4,100 law enforcement officers to combat crimes committed by individuals donning similar uniforms to the ones worn by officers. The new outfits were distributed to officers from the Code Enforcement Service Office starting in the Ethiopian New Year, which began last week. Each officer received two sets of complete uniforms. The colour of the uniforms was changed to dark blue and black from the former grey and dark green. The new uniform added some new features including badges with the name of the department, the department logo and the Ethiopian flag. “We caught some people involved in criminal activities wearing similar uniforms as our enforcement officers,” said Henok Tadesse, communications officer of Code of Enforcement Service Office, “especially in the Piassa area.” The Bureau, established in
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Djibouti’s Takeover on Doraleh Fans Flames of Dispute with DP World

The dispute between DP World and the government of Djibouti is heating up following the recent move by the East African nation to take direct control of the disputed Doraleh Container Terminal (DCT) by nationalising the state-owned Port De Djibouti’s stake. Last Sunday, Ismail Omar Guelleh, president of Djibouti, ordered the nationalisation of Port de Djibouti’s 66.66pc stake in the terminal, following the termination of DP World’s concession and seizure of its shares in the terminal last July. “The nationalisation was made to protect the fundamental interests of the nation and ensure the situation of the DCT Company aligns with reality,” reads the statement from the government. The termination removed Doraleh from its role at the terminal and transferred the concession staff and assets to a public company specifically established to manage the infrastructure, Société de Gestion du Terminal de
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Noah to Deliver 120 Homes Costing 200m Br

Noah Real Estate Plc, a sister company of Great Abyssinia Plc, is planning to deliver 120 homes for a total cost 200 million Br to owners on Sunday, September 16, 2018. The seven-storey residential complexes, Noah East Gate Apartments, hosts two- and three-bedroom apartments located near CMC on the eastern side of Addis Abeba. The apartments, ranging from 86sqm to 172sqm, are priced between two million Birr and four million Birr. The residential apartments include waste management systems, water tanks and electric generators. “Everything complies with the contract I signed for,” said Elias Teshome, one of the homebuyers that will receive a key to his apartment. The buyers paid for the apartments in four instalments, starting with an initial payment of 30pc at 50% completion of construction, and paying the last 15pc of the cost upon transfer of titles. Construction
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Ministry to Seed New Forestry Roadmap

The nation is gearing up to adopt a new 10-year master plan for sustainable forest management. The draft master plan, National Forest Sector Development Program, is developed by the Ministry of Environment, Forest & Climate Change and has five principal pillars – enabling environment and institutional development, sustainable forest production and value chain, forest environmental services, forests and rural livelihoods, and urban greening and urban foresting. The master plan envisions the reforestation of nearly 2.5 million hectares of land with tree plantations, the creation of over 600,000 full-time jobs, increasing the value of agriculture and other sectors by 3.2 billion dollars and fully substituting the import of wood products. The plan is intended to be used by regional states as a blueprint to formulate their own programs to lower carbon emissions into the atmosphere by 50pc. “It will be the
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Rophnan: Roots with Rare Genre

Rophnan Nuri, Rophy, was only 16 when he started producing music, literally six years after his first performance before his classmates. The ninth child of a family of 10, he has gone through a career path as a DJ, composer, guitarist, radio host, producer, and songwriter. A native of Addis Abeba, the 27-year old recently released his first album, Netsebrak [Reflection], adopting a new genre of mixing music electronically. Fans put him in league with Swedish musician, DJ, and remixer, the late Tim Bergling, stage-name Avicii. As his album hit the market just a few months ago, Rophy has rapidly gained momentum and is winning the hearts of the younger generation, whose infatuation with electronic music is emerging. Produced by SIGMA Entertainment & Events Plc, the album was published with 50,000 copies and was well received among the youth. Rophnan,
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Teddy Afro, Joyous Event in a Fray

The artist Tewdros Kasahun, or Teddy Afro to his fans, and Joyous Event & Promotion, producers of his last Album ‘Ethiopia’, are embroiled in a tense dispute following an alleged breach of contract by the popular singer. Joyous Event claims that it should get priority to organise his upcoming concert, warning Teddy Afro that the case could end up in court if the company is not made part of the of the artist’s planned September 15th concert at Millennium Hall. The concert is organized in collaboration between the artist and Plus Events & Promotions. Teddy Afro and Joyous entered into an agreement in June 2016, where Joyous became the producer of the ‘Ethiopia’ album paying the musician five million Birr, and managed the exclusive distribution of the 500,000 copies of the album that sold worldwide in 2017. Teddy Afro released
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Home Buyers Leverage Favorable Ruling

Justices at the Federal Supreme Court closed the fierce battle that raged between May Real Estate Development Plc and its 24 home buyers, ordering the may real estate to deliver title deeds to the home buyers. The five justices of the Cassation Bench, Dagne Melaku, Teklit G. Mesqel, Teferi Gebru (PhD), Ken’a Kitita, and Abiye Kassahun, ruled in favour of the home buyers, five weeks ago, overruling the lower courts’ decision that relieved the real estate firm from handing over title deeds to the home buyers. The court battle was instigated in 2011 when the home buyers took the case to the Federal High Court claiming that the real estate developer had terminated the contractual agreement on homes they bought in 2007 and 2010. Contract termination was evoked when May Real Estate requested  home buyers to increase the payment to
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Tax Appellate Commission Goes Operational

A new autonomous tax commission, given authority to hear grievances and appeals from businesses, has begun operations. The Tax Appellate Commission takes over the duties from the dissolved tax council under the Office of the Attorney General. Prime Minster Abiy Ahmed (PhD), to whom the Commission will directly report, appointed Mulugeta Ayalew as its head. Five members have also been nominated as members of the new commission and are awaiting confirmation by the Prime Minister. “The main reason for the formation of the commission is the unresolved pile of complaints and inefficient service delivered by the previous council,” Mulugeta, who has served as chairman of the Tax Appellate Council under the Office of the Attorney General since 2015, said. The Commission had a backlog of 334 complaints to settle even before it began its work. Unlike the previous Council, which
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Agency to Upgrade Accident Prone Roads for 220m Br

The Addis Abeba City Road Traffic Management Agency is set to upgrade accident-prone roads by installing and maintaining traffic lights, safety devices, signage and marking at a cost of 220 million Br. The installation of traffic lights will take place at 31 proposed road intersections. It will also include maintenance work that consist of repainting 50Km of lanes and zebras, and fixing road studs along 82 different streets. While the traffic lights will cost 54 million Br, the upgrades and maintenance work will take up 128 million Br. Covering lane dividers and pedestrian crossings with new coats of paint will cost 39 million Br. The project is a continuation of a previous repainting project of around 100Km of roads. The work will be completed by the end of November. A tender for repainting work on another 145Km of roads has
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Three Firms Vie to Supply Bunna with ATMs

Three companies are competing to supply 50 automated teller machines (ATM) to one of the new entrants to private banking, Bunna International Bank. The procurement, tendered last June, is expected to cost the bank over 16 million Br. Moti Engineering Plc, Computer Business Machines (CBM) and Minaye Plc submitted bids that were deemed technically qualified and progressed to the financial evaluation stage. During the financial bid opening held on August 30, 2018, Moti placed the lowest bid of 16.4 million Br, CBM offered 16.5 million Br, and the highest bid was offered by Minaye at 18.6 million Br, according to sources close to the case. However, the management of the bank declined to disclose the offers citing the non-disclosure arrangement of an ongoing bidding process. Established in 2006 and with a history of having supplied over 4,000 teller machines, Moti
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Cost of Living Slightly Falls in August

Headline inflation, an indicator of the cost of living, dipped to an annual rate of 13.4pc last month, according to the latest report from the Central Statistical Agency. In August, food inflation stood at 16pc, showing a 0.7 percentage point decrease from the previous month. Non-food inflation also dropped to 10.3pc from 10.9pc in July. “Though inflation has increased, its growth rate is slower compared to the previous month,” said Alemayehu Teferi, director of household surveys and price statistics at the Agency. The headline inflation was 14pc in July. And last month’s growth rate has slightly fallen by 0.6 percentage points, as the latest consumer price index showed. The rise in inflation of non-food items is mainly due to the increase in the prices of housing repairs and maintenance, especially corrugated iron sheets and door sets;  clothing and footwear; cement
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Local Firms Seal Deal Worth 1.3b Br

Twelve local contractors and consulting firms completed deals to construct, design and supervise 26.4Km of new asphalt and gravel roads for 1.3 billion Br. The Addis Abeba City Road Authority awarded the contracts last Friday, September 7, 2018, at the Authority’s office on Roosevelt Street. The deal also includes the consultancy and supervision work and the design and preliminary feasibility study of roads. Yotek Construction Plc took a 1.4Km section of a 30-meter wide road that extends from Shiro Meda to Qusquam for 115 million Br a kilometre. The project is set to be completed within two years time. Yotek also won another contract to an construct asphalt concrete road from Fafa Food Factory to Debre Zeit, approximately 3.51Km, for 84 million Br a kilometre. Cross Land Construction won 304.3 million Birr of contracts to build two sections of roads
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Heineken Expands Qilinto Plant, Lifting Production by Third

Heineken Ethiopia is set to increase its production capacity by a third of its previous output. The new 126 million euro expansion that took 14 months, involved 1,500 people at its Qilinto plant. The brewer’s expansion at its plant in Qilinto will be inaugurated this month. This is the second development after the company’s 2016 investment of 112 million euro. The expansion comes on the back of a 40 million euro letter-of-credit facilitation that Heineken received from the government last year to undertake the expansion project. The expansion increases the annual production capacity of beer by Heineken’s Ethiopian wing at the Qilinto plant to 4.5 million hectolitres annually. This will bring its overall capacity, added with the Bedele and Harar breweries that produce a million hectolitres together, to 5.5 million hectolitres a year Heineken’s expansion has expanded its bottling lines,
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In concert for a Cause

President Mulatu Teshome (PhD) (centre) visited the Gergesenon Association for Supporting Peoples with Mental Disorder, a charity located in Entoto, Addis Abeba last Friday. He was joined by veteran actor Debebe Eshetu (left), Deputy Mayor Dagmawit Moges (centre-right), and Yohannes Chala [MD] (right), head of the city’s Health Bureau. Melese Ayele (centre-left) one of the founders of the Association, gave the President a tour of the premises. The 13-year-old local charity is currently supporting 294 formerly homeless people housed at the facility. The president’s visit was followed by in-kind donations of glucose and gloves offered by the Bureau of Health. The visit is part of the City Administration’s campaign to support residents of Addis Abeba that are living under the poverty line. Launched by Prime Minister Abiy Ahmed (PhD) and the three deputies of Addis Abeba – Takele Uma, Dagmawit
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MetEC Undergoes Two-way Split

The Metals & Engineering Corporation (MetEC), the state-owned, military-industrial conglomerate, is splitting into two parts – commercial and defence – following an order by Prime Minister Abiy Ahmed (PhD). To facilitate the split, eight separate committees incorporating members of the Corporation, the National Defense Forces and the Ministry of Defense have been formed. A lead committee chaired by Minister of Defense Motuma Meqassa that includes Berhanu Jula (Gen.), operations chief of the Ethiopian National Defense Force, and Molla Hailemariam (Lt. Gen), chief of the Army Logistics Department, has also been formed. Though the idea of splitting the corporation into two entities was floated in the air for the past couple of months, the final decision was made by the Prime Minister three weeks ago, according to sources close to the case. The Prime Minister has also directed that the split
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Ministry Ponders Reforms to Overcome Downturn

The Ministry of Mines, Petroleum & Natural Gas is set to undergo a major reform by restructuring itself and introducing new policies in a bid to alleviate challenges in the industry and improve the efficiencies of its service delivery. The reform will be undertaken in five major areas under the direction of six committees to be formed from the Office of state ministers, the Ethiopian Geological Survey and the Ministry itself. Designing policy frameworks for both the mining and natural gas industries, reorganizing the human resources of the institution and enhancing the information and communication technologies at the Ministry are the primary areas to be considered in reforms. The project aims to ease problems facing the industry, according to Michael Mengesha, public relations and communications director at the Ministry. “The sector has been dealing with problems of illegal trading, information
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Bunna Advances with New, Upgraded Electronic Services

Bunna Bank, one of the late entrants to the private commercial bank industry, is set to introduce three new services, upgrade its servers and install new switches for a total investment of 100 million Br. Mobile, internet and agent banking will be new additions to the bank’s service offerings beginning in October of this year. The bank also upgraded its servers and card-banking switches. Undertaken by three global companies, the upgrade and launch of the new services took almost a year. Oracle, an American software company, upgraded the bank’s servers. M2M, the Morocco-based company that specialises in secured electronic transactions processing solutions, installed the switches. Virmati Software and Telecommunication, a mobile and telecommunications contractor for the banking & finance industries, is currently working on developing three new services. “The new services will boost our efficiency and accessibility,” said Wolelaw Berhane,
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Gov’t Opens Bidding for Stalled Sugar Projects

The government dismissed Metals & Engineering Corporation (MetEC) from three sugar-factory construction projects that are underway and is considering awarding the work to Chinese firms for completion. The state owned Sugar Corporation, responsible for the construction of the sugar factories, invited three firms to visit the plants as part of a new bidding process, according to sources close to the case. About a week ago, Prime Minister Abiy Ahmed (PhD) confirmed that the contract with MetEC has been terminated due to delays that extended the project by four years. “We are in the process of selecting capable companies,” said Abiy last Saturday in his first meeting with members of the media at his office. Jiangxi Jianglian International Engineering, China National Complete Plant Import-Export Corporation (COMPLANT), and China CAMC Engineering Co, Ltd. (CAMCE) are being considered by the government to finalise
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PM-Led Committee Moves Boldly to Rescue Economy

The Macroeconomic Committee, chaired by Prime Minister Abiy Ahmed (PhD), have introduced major reforms that may succour the economy and the financial industry. The Committee, which met late last week, made four core amendments that relieve private commercial banks and could trigger forex gains, according to Fitsum Arega, chief of staff at the Office of the Prime Minister. The committee made decisions on four major items that included raising the interest rate of government bonds, which private banks are compelled to purchase from the National Bank of Ethiopia at a level of 27pc of gross loans they disburse. The decision pushed the yield rate from three percent to five percent. The other three items involve removing the current diaspora account limit of 50,000 dollars; fixing the central bank’s purchasing rate for private banks at 30pc of forex earnings to the
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Authority Plans Minimum Energy Performance Standards

The Ethiopian Energy Authority is preparing to introduce a minimum energy performance standard for electrical motors in a bid to reduce power consumption. The Authority’s Energy Efficiency Conservation Department is conducting a study to identify the minimum standard for electric motor efficiencies  manufacturers must meet before they can be put to use in the country. At a cost of 20 million Br, the study was initiated in July and is expected to be produced in three phases, taking up to three years to finalise. In the first phase of the project, which is expected to take about a year, a minimum standard for energy use will be identified. The next two phases will encompass discussing the result of the study with stakeholders, conducting awareness creation programs and taking steps to reduce the import of substandard motors. Poor design, low quality
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US Backs Tulu Moye Geothermal Plant

The United States Trade & Development Agency has thrown its support behind the Tulu Moye Geothermal project, the nation’s second geothermal plant. The Agency awarded a grant of 1.1 million dollars to conduct a feasibility study for the first 50MW phase of the planned 520MW project. The grant was made to TM Geothermal Operations Plc, a private Ethiopian company that signed a power purchasing agreement with the Ethiopian government last year. The signing ceremony was held at Sheraton Addis on August 27, 2018, attended by Katherine Hinderdael, East African representative for the Agency, Darren Boyd, CEO of TM Geothermal, and Frehiwot W.Hanna (PhD), state minister of Water, Irrigation & Electricity. TM Geothermal has selected Delphos International to carry out the feasibility study, Delphos is an American firm with experience in Latin America, the Middle East and Africa. “The project is
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Investment Commission Launches Online Guide

The government has launched an online database system dubbed iGuide in a bid to provide information for investors entering into the country. Announced by the Ethiopian Investment Commission (EIC) after three months of preparations, the system was designed by the United Nations Conference on Trade & Development and the Economic Commission for Africa. It has taken three months to launch online. On its website, the platform provides information on costs and prices of labour, taxes, rent values and transportation. It also contains licensing requirements, contacts and the experiences of established investors. Data on the platform can be updated whenever changes occur to legislation, prices or when cost adjustments are made. The iGuide allows other governments that run the system to interface and share their experiences. The data on the system can only be updated and uploaded by federal agencies. Although
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Ministry Opts to Certify Imported Goods

The Ministry of Trade is planning to enlist four or five international conformity assessment firms that will accredit products imported into the country. The firms will ensure the quality of products that enter the country and protect local manufacturers from unfair competition, according to Eyassu Semon, quality control director for Import & Export Goods at the Ministry. To proceed with the new plan, the Ministry drafted a manual that identifies the particular products that will require certification and the procedures needed in applying the system. The Ministry expects to launch the plan before the end of this fiscal year. Cosmetics products, electrical parts like voltage dividers and sockets, refrigerators, vehicular spare parts, chemical products, tools and toys are among the products that will need Pre-Export Verification of Conformity certificates before entering the country. The manual was submitted to the Ministry
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Ministry to Map Farmland with Drones

The nation is planning to launch drones to implement cadastral mapping, a digital mapping system that defines land ownership, on 13,000ha of farmland across six regional states for the first time. The mapping, which aims to solve disputes related to land tenure, is planned to be carried out by six drones operating in Amhara, Benishangul, Gambella, Oromia, Tigray and Southern Nations, Nationalities & Peoples’ regional states. The drones will produce a detailed digital map that contains spatial data, coordinate area and GPS locations of individual parcels. The Ministry of Agriculture & Livestock Resource, under its Sustainable Land Management Programme, will apply the new system. This 50-million-dollar project was funded by the World Bank and launched a decade ago to address environmental problems by reducing land degradation and improve land productivity. The project is expected to be phased out by April
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WB Grants $1b for Budget

During his first press conference held since assuming power nearly five months ago, Prime Minister Abiy Ahmed (PhD) told local and foreign media on Saturday that the World Bank would provide one billion dollars in direct budgetary assistance to Ethiopia. “The money will be disbursed in the next few months,” Abiy told the nearly 120 journalists that gathered in his office for the briefing. The announcement was made just a month after Abiy met Jim Young Kim, president of the World Bank in Washington D.C during his trip to the United States. At their meeting, the Bank’s chief told the Prime Minister that his institution is ready to provide “robust support” for his administration. “World Bank is ready to help realise his vision of boosting human capital and to end poverty in Ethiopia,” Jim Young tweeted after his meeting with
Posted in Business, Ethiopian News

Authority To Open Large Taxpayers Office

The Addis Abeba Revenues Authority is set to open a new branch for large taxpayers, dedicated to businesses with annual revenue of 40 million Br or more. The Authority is now looking for an accessible office with amenities such as parking, reliable internet connection access and proximity to the centre of the city, according to Atakilt Gebregiziabher, deputy director of the Authority in charge of tax enforcement. “The new office will help us deliver quality service,” Atakilt said. “We are currently identifying and assessing taxpayer’s files.” So far, the Authority has identified 800 large taxpayers to be served at the new branch. The Authority, which recently split from the Ethiopian Revenues & Customs Authority, has a total of 340,520 taxpayers that are served under four office divisions – micro; small; middle and large taxpayers offices. Businesses with annual turnover of
Posted in Business, Ethiopian News

Afro-Tsion Repairs Defective Craftsmanship on Employee Homes

Afro-Tsion Construction, a company responsible for the construction of 1,192 houses for Ethiopian Airlines Employees, has started repair work on defective craftsmanship and work that seeks to remedy leaking roofs and broken and fissured tiles. To date, Afro-Tsion has booked 451 calls of complaints ranging from minor electrical problems to construction flaws causing leaky roofs. To address the repair issues, the company has deployed a total of 120 professionals. “Before the handover of the homes, all of the defects in the homes were recorded,” reads a letter from the Board of Housing Project, signed by Messay Shiferaw, the chairperson. “As repairing all the defects might take a long time, we have agreed to withhold payments of the contractor’s retentions to fix the defects.” According to the management of the construction firm, retention payments and fees for some other work amounting
Posted in Business, Ethiopian News

Telecom Rewards Employees with Mobile Phones

Ethio telecom, the state monopoly telecom provider, rewarded its 15,000 permanent employees by giving them mobile phones at a cost of 100.5 million Br The company provided its employees with the choice of two models of Lenovo brand phones, Phab two and Lenovo Phab two plus. The company spent 6,700 Br on each phone. “The procurement was made through a tender process,” said Abdurahim Ahmed, corporate communications officer of Ethio telecom. The company rewards its employees every other year, and the reward package is only for permanent employees of the company. Contract employees, even those who served the company for years, are not included in the reward package. The reward aims at benefiting its employees for the services they render, according to Abdurahim. Gashaw Kifle, an employee of Ethio’s Saris branch, was one of the beneficiaries of the program. “Last
Posted in Business, Ethiopian News

Roadmap Envisions Ministry’s Restructuring

An education roadmap that would see the Ministry of Education restructured into three components has been proposed. The 86-page roadmap was presented with four chapters. It focuses, aside from restructuring the Ministry, on education quality, curriculum content and problems of implementation. The roadmap focuses on reforming the role and responsibilities of government bodies in education. The suggested ministries include the Higher Education & Training Ministry, General Education Ministry and Human Resources Development Ministry. The Higher Education & Training Ministry will deal with higher learning institutions, teachers’ education and vocational training. The General Education Ministry would deal with lower learning institutions while the Human Resources Development Ministry will be responsible for catering to people with informal education and those who have failed to graduate previously by certifying them with degrees and diplomas. The Ministry and 1,300 representatives from the education, industry,
Posted in Business, Ethiopian News

Metered Taxis Enter Airport for First Time

Amidst a fierce court battle, metered taxis are once again allowed to operate inside Bole International Airport. Justices at the Federal Supreme Court Cassation Bench reversed their earlier injunction on August 1, 2018. The earlier injunction, which temporarily banned metered taxis from operating inside the airport, was handed down on July 6, 2018 by the bench in connection to a lawsuit filed by a collection of plaintiffs that included hotel taxi associations, Mekdela Airport, Andnet Yellow Cab, Siket and Wondmamachoch Taxi Associations against Addis Abeba City Transport Authority and three other defendants. The lawsuit alleged that metered taxis have caused a ‘nuisance’ at the airport. Temporary injunctions are granted if any property in dispute is in danger of being wasted, damaged or transferred to another party before a court action, according to Civil Procedure Code 154(A) of Ethiopia. The initial
Posted in Business, Ethiopian News

Bale Robe Flickers with Air Traffic Control Tower

The recently constructed Bale Robe Airport Terminal has become the nation’s 15th airport with an air traffic control tower designed to direct aircraft during takeoff and landing. The tower, costing 35.3 million Br, occupies a 460sqm plot and stands 25m in height. Bale Robe Airport is located in Bale Robe town, in Oromia Regional State, 430Km south of the capital. The tower, a five-storey building with 15 rooms, will be used as administrative offices for the airport, in addition to its air traffic control function. The Ethiopian Civil Aviation Authority hired Unity Engineering to construct the tower with the supervision of K2N Architects & Engineering Consultancy Plc. K2N Architects, a company established a decade ago and currently operating with 100 employees, was paid 260,000 Br for the design of the tower and 28,000 Br a month for the supervisory work.
Posted in Business, Ethiopian News

Re-insurer Hires HST to Revamp Human Resources Strategy

HST Consulting has been engaged to overhaul the human resources strategy by Ethiopian Reinsurance, the nation’s first reinsurance firm, for 2.8 million Br. The firm was awarded the project last month after winning an international bid and competing against KPMG Consulting, one of the leading global consulting firms. The tender was announced in March 2018, and the two companies responded to the solicitation bid and submitted their proposals. The two firms passed the technical evaluation phase and reached the financial stage, where HST won the bid by offering the lowest price. Ethiopian Re recently completed its 10-year strategy planning that it expects to implement soon, according to Yewondwossen Eteffa, founding CEO of Ethiopian. “To implement it we need to have strong and qualified human resources,” he said, “that is why the design of a human resource strategy came into the
Posted in Business, Ethiopian News