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PM Grants Idle Institute to
South African University

The University of South Africa has been awarded part of the expensive idle building built for the Ethiopian Insurance and Banking Institute (EIBI) to open a distance learning centre by the office of the prime minister.

The National Bank of Ethiopia (NBE) built the Institute at a cost of over 100 million Br, it has been sitting idle for the last 10 months. Located 25km east of Addis Abeba in the Akaki-Kaliti District, the Institute sits on a 165,000sqm plot. The complex has the capacity to cater to 500 students and over 100 trainers, members of administration and other support staff.

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Wonji Becomes Birr Furnace

Facing severe congestion from 10 billion Br worth of old notes that need to be discarded, the management at the National Bank of Ethiopia (NBE) has decided to send the notes to Wonji Sugar Factory to be burned in a pit.

There are two billion birr worth of decommissioned notes annually for reasons ranging from the mishandling by the using. public to the issuance of new notes and age.

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Major Roads Suffer Major Setbacks

    The Addis Abeba-Ambo and the Adigrat-Adiabun roads being built by Chinese contractors at a cost of 455 million Br are facing major delays, according to sources at the Ethiopian Roads Authority (ERA).

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Dysfunctional Medical Equipment

A study conducted by the Ethiopian Science and Technology Agency (ESTA) has concluded that over 23,000 of the 57,000 medical machines that are used in hospitals and laboratories in the country do not work. The remaining are also flawed in their results, giving room for misdiagnosis.

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Mahmoud Dirir Presses for Regional Tour Package

Only 28Km east of its capital, and passing through the newly built Dourale Port, Djibouti has a stunning enclave of a beach, stretching almost 700m. On the afternoon of April 14th, there were few foreign nationals enjoying the Red Sea for there is hardly any establishment that provides service.

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Land Incentive Cut for Developers

The Addis Ababa City Administration has decided to stop a 50sqm incentive to real estate developers.

The City’s Lease Board wrote a circular to the City Administration and Investment Authority to carry out the decision.

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Day Light Steps from Bulb to Bottle

Day Light Applied Technologies, known for Sara Ampol its locally manufactured electric bulb, is to start the production of glass bottles at a cost of 50 million Br. The move into the bottle sector follows the bankruptcy that the company experienced in 2005.

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New Poultry Farm to Begin with 200m Br

At a time when Avian flu is a major cause for concern, a poultry abattoir and farm that is worth 200 million Br will begin production in two months time.

Located in the Oromia Regional State’s West Showa Zone on the road going from Mojo to Zewai in the 40hct plot, the farm was established by Abu-Diyab Establishment Plc.

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Haile: Frontrunner for Bahir Dar Resort

The Development Bank of Ethiopia (DBE) has finally reaped the rewards of its repeated efforts to sell the Bahir Dar Resort, having entered into negotiations with Haile and Alem International Plc, owned by track record holder Haile Gebre Sellasie and his wife, Alem Tilahun.

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EEPCo Cancels Universal Electric Access Tender

The state monopoly Ethiopian Electric Power Corporation (EEPCo) has cancelled the tender that 29 local companies participated for the installation of electrical lines in 25 rural towns.

The project that was cancelled is part of the larger Universal Electric Access Project, which the Corporation has implemented to increase its electrical coverage from the current 15pc to 50pc within five years.

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New Joint Venture Plans Vegetable Export

Ethio Veg Fru, an Ethiopian and Dutch joint venture company, has begun work on vegetable production and eco-tourism promotion in a 150hct plot that it received from the Investment Commission of the Oromia Regional State.

The company leased the plot at a unit price of 135Br a hectare in the East Showa Zone, Lomi Woreda, around Koka based on the investment boards decision to award it.

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AAU to Design  Botanical Garden

The Addis Ababa University (AAU) Department of Architecture has been awarded the project for designing the Gulelle Botanical Garden.

AAU and the Addis Abeba City Administration awarded the one billion birr botanical garden site, which is found between Ambo and Gojam Roads, north of Addis Ababa, to the project free of lease charge. The two signed the agreement for the space on April 22 last year.

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Water, Energy and Transport Investors to Get Funding

Water, Energy and Transport Investors to Get Funding

Proeinvest, a European Union (EU) - Africa, Caribbean and Pacific (ACP) partnership program, will cover 67pc of project costs for eligible business plans following the second regional Investment Conference in Public Utilities and Transport (INPUT) in Addis Ababa during June 7-9, 2006 at the Economic Commission for Africa (ECA).

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Another Top Brass Resigns

The Privatization and Public Enterprise Supervisory Agency (PPESA) lost yet another division manager last week.

 

Luleseged Dechasa head of the Metal Sector Division, tendered his resignation letter a month ago to the director of the agency, Beyene G. Meskel, who accepted his resignation on April 9, 2006.

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Kobil To Open Filling Station in Ethiopia

Kobil Ethiopia, a Kenyan Oil company established locally in 2005, is under negotiations with Abu Diyab Establishment to open its first filling station in the country.

Kenya Oil Company Limited (Kenol) was founded and incorporated as a private limited company in Kenya in May 1959 and became a public company four months later. The company shares are quoted at the Nairobi Stock Exchange.

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Pool and Gym for Empty Institute

The National Bank of Ethiopia (NBE) has opened the Financial aspect tenders to build a swimming pool and gymnasium in 12m birr, for its Ethiopian Institute of Banking and Insurance (EIBI), which has been idle.

Nine construction companies advanced to the final phase of the tender, which was opened on March 30, 2006.

 

 

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EIC Pays Huge Compensation

The Ethiopian Insurance Corporation (EIC) has paid 2.7 million Br to Nile Shoe and Sole Factory Plc., the second largest settlement in six month.

A fire in its premises on November 20, 2005 damaged the company property for which claims were made. The company was established 10 years ago by Samuel Getachew and partners.

 

 

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This Week's Agenda
Seyoum Calls Djibouti Deal a “Breakthrough”
    How Deep Does It Hold Water?


An army of Ethiopian negotiators and their six ministers have had mixed feelings when departing Djibouti on Thursday afternoon, after week-long negotiations that had ranged from the soft landing issues of culture and sport to the most controversial subjects on trade liberalization and multimodal transport operation.

Neither side was fully satisfied or totally disappointed at the end of the 9th Ethio-Djibouti joint ministerial conference, as the case was with a bilateral meeting held a year ago. And that was in spite of the customary diplomatic mutual tributes made at the closing of such meetings.
 

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Economic Commentary
 
 

Joseph E. Stiglitz, a Nobel laureate in economics, is Professor of Economics at Columbia University and was Chairman of the Council of Economic Advisers to President Clinton and ....

 

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Opinion
 
 

The English language has at its disposal an arsenal of terms that denote all kinds of phobias but I don’t think it has one that could depict what I may be allowed to call the state’s ....

 

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Editor's Note
 
 

During his recent report to parliament, Prime Minister Meles Zenawi was asked by one of the opposition legislators why he could not release the jailed CUD leaders as part of a move ...

 

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My perspective
 
 

My tall Gojame friend called Thursday afternoon to kindly give me some information that I needed. He enquired about what I was writing about, and I ......

 

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View point
 
  As a success story Somaliland is Africa’s best-kept secret. It is time for African states to let out the secret and engage a country which offers one of the ....  

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Life Matters
 
 

I have always wanted to write about love and all that it entails for some time now, but come the time that I have to sit down at my computer to make .....

 

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View From Arada

 

I wonder how many people would slaughter chicken for Easter celebrations a week from today in spite of the assertions by the concerned authorities that HSN1 virus is nonexistent in the country.  Easter feast without .....

 

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Gossip
 
 

The gossip corridor is humming with news of another institution that has fallen prey to the investigation of the Federal Ethics and Anti-Corruption Commission. The Commission wrote a letter to the National Bank of Ethiopia .....

 

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Restaurant Review
 
  Name : Elfin Restaurant, Top View

Location:
Located off Fikre Mariam Aba Techan Street

serves:
 
European and Ethiopian Dishes
 

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Restaurant Review

    Restaurant Name :Elfin Restaurant, Top View

     

    Serves European and Ethiopian Dishes

    Located off Fikre Mariam Aba

    Techan Street

     

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Business Opportunities

    Tender Mart 

    Bidders for supply of Glass Wares and Chemicals for Laboratory.

 

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Business Opportunities

Importer


An Indian company engaged in the manufacturing of KOREX and PASTO (modified Starches) used in manufacturing of corrugated ......
 

Exporter


A company in Israel is looking for exporters of sesame seeds. For further information please contact: Doron Landau. Tel. 97299560167. Mobile: 972522555888. Fax: 97299559585. E-mail:......

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Business Opportunities

Partnership
Novatium, an Indian company engaged in manufacturing oomputing devices is looking for a joint venture with PC manufacturers and IT distributors. For further information please contact: Ashok Zutshi. Tel. +914452055322. Fax. +914452055320. E-mail; ashok@novatium.com

 

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Business Opportunities

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This Week's Cartoons and Comic Stripes

     

     

     
             

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