Holland Car to Expand Mojo Plant

Holland Car Plc disclosed that it is undergoing an expansion phase with an eight million Birr investment to boost its production capacity in Mojo town on a 4,000sqm plot. Tadesse Tessema, the company’s managing director engineer, further said that Holland Car’s new expansion plan will include the launching of a new model hatchback car in May 2008.

Tycoon Plans Huge Plantations Project in Joint Venture

Horizon Plantations Plc, a joint venture between Sheik Mohammed Al Moudi and Jemal Ahmed, a businessman engaged in importing and distributing palm oil in Ethiopia, is to launch multi-million dollar plantations in various parts of the country. It is planning to cover 250,000hct of land with rubber, palm, jantropha, tea plantations and processing plants. Upon completion, these investments are expected to create job opportunities for over 48,000 people.
 

Ministry Plans Tax Week to Increase Awareness

The Ministry of Revenue (MoR) said it has finalised preparations to start tax week celebrations under the motto “Tax is our economy’s back bone”. The celebrations scheduled to start on February 2, 2008, are aimed at creating more awareness about the importance of taxation. Events will include a question and answer programme, panel discussions and documentary films will be showed. The finale will consist of a dinner reception at the Millennium Hall on Africa Avenue (Bole Road) for the Ministry’s employees.

Magi Agro Forestry to Import ‘Eco-friendly’ Coffee Processors

Magi Agro Forestry Plc, one of the prominent coffee processors and exporters in the country, is set to import eight new processing machines in four phases in the coming four years at a total cost of 5.8 million Br. The machines will be imported from the South American state of Colombia. Ashenafi Mamo, the company’s general manager, said that the machines are widely acclaimed for being eco-friendly and more efficient than the machines currently in use and will reduce wastage during coffee processing activities.

Anbessa Insurance to Begin Door-to-Door Sales

Anbessa Insurance SC, one of the newcomers in the industry, trained and graduated 30 sales agents on January 15, 2008. The sales agents will begin door-to-door sales to enable the company get more and more customers. Twenty-one of the new graduates are males.

Ethiopia Looks to Boost Ties with Oil Rich Iran

Iranian official and business delegates visited Ethiopia for five days and held discussions with their Ethiopian counterparts on January 14, 2008. The delegation, led by Seyed Shemesudin Kharegani, exchanged ideas on how to boost trade relations between the two states that currently do not exceed 20 million dollars. Getachew Ayenew, president of the Ethiopian Chamber of Commerce and Sectoral Associations, said that Iran, which is the third largest producer of oil in the world, could become a major trade partner to Ethiopia and should work towards that end.

Champion Woman Runner Furthers Support for Unbiased Education

Athlete Meseret Defar, the reigning world 5,000m Olympic champion, reiterated in strong terms that she desires and is determined to support girls in Ethiopia to enable them get a better education. At an event launching a series of runs entitled ‘Education for girls’, she emphasises that parents should make no discrimination when sending their children to school.

UN Grants Additional $600,000 for Somali Region

The United Nations (UN) is stepping up relief operations in the troubled Ogaden region with additional 600,000 dollars to be channelled through the UN Central Emergency Response Fund (CERF). The programme aims at helping feed the conflict affected regions in the Somali Region. The funds will be used by the UN World Food Programme (WFP) to help Ethiopian authorities deliver foodstuffs to the Somali region, where conflict between government forces and the Ogaden National Liberation Front (ONLF) has intensified this year.

Mansion Inaugurated by Sunshine Construction Owner

A modern villa constructed by Samuel Tafesse, owner and general manager of Sunshine Construction Plc, was inaugurated on January 13, 2008. The event was held on the birthday of the investor and his daughter’s wedding. Though the mansions, located across from Bole Medhanialem Church, were appreciated by many, the disturbing sound the fireworks created that day has annoyed many.

Gold Concessions Granted in Tigray Region

ASCOM, Citadel Capital’s geology and mining subsidiary, has announced that it has acquired gold concessions in northern Ethiopia around the city of Mekelle. The concession, located on four different plots is owned by a newly established company, Nubia Mining Development Plc.

Ethiopia Conducts Horn Relations Seminar

A seminar aimed at promoting Ethiopia’s trade and investment activities and its role in the political and socioeconomic spheres in the Horn of Africa was held in the Turkey business town Cherlo. Mulatu Teshome (PhD), the Ethiopian Ambassador in Turkey, said that the Embassy is striving to attract Turkish investors to invest in Ethiopia and but its products.