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Wilting trade?
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Tsegaye Ababa (right), chairman of the Ethiopian Horticulture Producers
and Exporters Association (EHPEA),
which organised the Horti-flora
Ethiopia 2011 Horticultural Expo,
and his daughter Makda, 10, hand
Prime Minister Meles Zenawi a bunch
of roses at the opening of the expo
at Millennium Hall on Wednesday,
March 23, 2011. Tsegaye’s other
daughter, Rebeka, 13, is on the
left, and Tefera Derebewe, Minister
of Agriculture is on the far left.
Ethiopia is a well-known producer of
large and long stemmed roses, which
takes up 65pc of the country’s total
flower production. However, while
the floriculture and horticulture
sectors are still among the top five
foreign currency earners in the
country, it collected only 91.3
million dollars of the 156 million
dollars the Ministry of Agriculture
(MoA) projected it would over the
past six months.
Meles visited most of the 87 participating exhibitors and encouraged
them to work hard, despite them
being busier taking his photograph
than paying much heed to his
comments.
Flower growers need to seek new markets due to an international
decrease in demand, according to
Tilaye Bekele, executive director of
the EHPEA.
Find Out More |
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NEWS |
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Gov’t to Take over Imported Palm Oil |
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The Ministry of Trade (MoT) has decided to collect
all the edible palm oil from importers who ordered
supplies from abroad at higher prices due to the
international price increment, during a closed
meeting with importers on Friday, March 25, 2011. |
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Freight Forwarders in Uproar over Multimodal
Transport Instruction
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An urgent instruction from the Ethiopian Revenues
and Customs Authority (ERCA) for private companies
to start using the multimodal transportation system
(MTS) as of March 15, 2011, has caused uproar among
freight forwarders who fear the letter indicates
that the government plans to make the system
obligatory for private companies.
A
new drafted regulation provides for the allowance of
interested parties in the private sector to become
Multimodal Transportation Operators (MTOs), an area
that was, until now, the sole domain of ESL. Yet, it
requires a soaring capital imput, causing the
forwarders to accuse the government of designing the
regulation to eventually make ESL the only MTO.
During the previous fiscal year, ESL transported 2.5
million tonnes of commodities, out of the total 6.9
million tonnes of commodities the country imported.
This amount is 14pc higher than that of the previous
year and constituted 35.6pc of the total imported
commodities (dry cargo) into the country, an
increase in the market share of ESL by 8.9pc. |
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Prosecutors Charge Former AIB
President |
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Leikun Brehanu, former president of Awash
International Bank (AIB) SC; Mitiku Abeshu, former
vice president of international banking at AIB; and
eight other former bank employees in managerial,
sales, and secretarial positions have been charged
with mishandling letters of credit (LCs) and abusing
their authority as bank employees. |
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UK Leather Firm Plans Addis Factory |
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Pittards Plc, a UK leather and leather products
company, plans to open a factory in Addis Abeba that
will produce industrial gloves and is expected to
start production by August 2011, according to John
Moriarty, managing director of Ethiopian Tannery SC,
the local subsidiary of Pittards. |
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Tax Auth. Limits Sales Register Software to 3 Developers |
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The Ethiopian Revenues and Customs Authority (ERCA)
has instructed all sales register users to reinstall
the software for their fiscal printers using only
software developed by three companies certified by
the authority, before April 8, 2011. |
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Dev’t Bank Sells 24m Br Worth
of Gov’t Bonds in 2 Weeks |
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Development Bank of Ethiopia (DBE) has sold a total
of 24 million Br worth of bonds in the first two
weeks of their being made available for sale. |
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Exporter Sues Freight Forwarder for 1m Br |
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KS International Trading Plc has sued Akakas
Logistics Plc for a little over one million Birr for
failure to fulfil formalities in the shipment of
25,000kg of dry ginger to Yemen, which was returned
to Ethiopia by the buyer due to price depreciation. |
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Firm Sues 315 Ex-shareholders for Failure to Sign Transfer |
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Birhan Chora Kolfe Commercial Business Centre SC has
sued 315 of its former shareholders for failing to
replace their names with those of the new
shareholders, at the Federal First Instance Court,
Fifth Civil Bench. |
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Abyssinia Picks Same Designer as Commercial Bank for HQ |
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For its planned future headquarters, the Bank of
Abyssinia (BoA) announced the selection of the
architectural design by Universal Consultants Plc,
which also won a design competition for Commercial
Bank of Ethiopia’s (CBE) future headquarters, at an
award ceremony held at the Hilton Addis on March 19,
2011. |
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Contractor Urges Court to Drop Contract Breach Charges
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CGC Overseas Construction Ethiopia Ltd claimed its
contractual agreement with Ethio-Canadian Business
Group Plc stipulates that no court has the authority
to try the case in which the latter sued it for
breach of contract, and requested that the charges
be dropped, on Wednesday, March 23, 2011. |
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Auth. Goes Smaller with Latest
Boreholes |
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In the second step towards achieving 100pc water
coverage in the capital, as set out in its new
five-year plan, the Addis Abeba Water and Sewage
Authority (AAWSA) floated a tender for the drilling
of eight shallow boreholes in the city, on Monday,
March 21, 2011. |
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Anbessa Receives Four Trial
Bishoftu Buses |
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The first four of the 500 buses that Anbessa City
Bus Enterprise is in the process of acquiring
commenced trial operations in Addis Abeba, on
Thursday, March 24, 2011. |
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NIB to Auction Building Banned from Transfer to Third
Parties |
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NIB International Bank (NIB) SC is auctioning a
nine-storey building, which is nearing completion
and is owned by a company Kebede Tesera has a
majority share in. |
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Coffee Exporters Unveil Strategy to Increase Int’l Market
Share |
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An increase in the quality and market share of
coffee exports was set out in the five-year
strategic plan of the Ethiopian Coffee Exporters
Association (ECEA) that was announced by the
association at the Hilton Addis, on Friday, March
25, 2011. |
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Customer Sues Holland Car for Non-delivery |
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The initial hearing for a suit filed against Holland
Car Plc for the non-delivery of a car to Gashaw
Abebe were presented at the Federal First Instance
Court, Yeka District, on Wednesday, March 23, 2011.
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Commercial Bank Sues Lion for Insurance on Debtor’s Property
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Commercial Bank of Ethiopia (CBE) has sued Lion
Insurance SC for a little over three million Birr
over an alleged insurance policy for natural
disaster damage to a property Anano General Trading
Plc acquired with a loan from the bank, which it
failed to pay. |
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FEATURE |
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Transport
Companies Facing Slowdown in Business |
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Abush Abebe, 26, has worked in the
transportation business as a driver’s assistant for
the last 10 years starting after his father’s
passing. He is now the only bread winner for his
three underage sisters and his mother. |
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