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Wilting trade?

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. Tsegayeís 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 countryís 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


Govít to Take over Imported Palm Oil

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


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

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

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

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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Devít Bank Sells 24m Br Worth of Govít Bonds in 2 Weeks

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

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

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

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 Ethiopiaís (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

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

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

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

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 Intíl Market Share

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

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 Debtorís Property

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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Transport Companies Facing Slowdown in Business

Abush Abebe, 26, has worked in the transportation business as a driverís assistant for the last 10 years starting after his fatherís passing. He is now the only bread winner for his three underage sisters and his mother.


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