Ethio-Spanish Agreement of, $114m for Development 

Ethiopia and Spain signed a grant agreement providing 114 million dollars to implement priority areas identified in the Second-Ethio Spanish Joint Commission for Development Cooperation, active from 2011 to 2015 Saturday, July 23, 2011.  The assistance is meant to finance priority areas, namely basic social services, health, rural development, food security, gender in development, and culture in development, said Sufian Ahmed, Finance and Economic Development minister. 

Zone Boosts Revenue with Honey Production

Farmers active in apiculture have garnered over 235 million Br in Illubabor Zone, Oromia Regional State, from the sale of honey in the recently ended Ethiopian budget year, the zonal livestock development and health agency said. The stated sum was obtained from the sale of over six million kilogrammes of honey, with over 135,000 farmers producing the stated amount from 180,000 traditional, transitional, and modern hives, said Mengistu Gurmesa, agency vet extension performer. The revenue exceeds the amount from last year by over 100 million Br, Mengistu added.

Roads Authority Expands Road Construction

The Ethiopian Roads Authority (ERA) signed 57 road construction projects worth over 18 billion Br in the recently-ended fiscal year. The agreement includes 20 new road construction projects, as well as 20 road supervision projects, said Samson Wondimu, ERA directorate director. The overall cost of the projects, 16.7 billion Br, was covered by the government, while foreign governments accounted for the balance. The road projects, spanning about 4,000Km, will take place in Yabello-Mega, Mekelle-Siret, and Mekenajo-Denbidolo, among others. The projects are planned to be carried out by local contractors, and expected to improve and expand the road network nationwide, according to ERA.

Indian Company Invests in New Cancer Centre

HealthCare Global Enterprises (HCG), an India-based healthcare company, plans to invest over 30 million dollars in the construction of cancer care centre in Ethiopia. The centre is the first fruit of an initiative between HCG and the African Union to build such facilities for cancer-stricken Africans, said Dinesh Madhavin, marketing director of HCG. The centre will help cancer patients in Ethiopia obtain better treatment, Madhavin said. The enterprise will train and educate doctors, nurses, and paramedical staff in the treatment of cancer. Establishing cancer centres will provide affordable treatment and alleviate the woes of cancer patients, Sridhar PS, a doctor from HCG, said.

Lalibela Tourism on Rise

Over 79 million Br was gained from tourists' visits to Lalibela Town, North Wollo Zone, Amhara Regional State, during the recently-ended Ethiopian budget year, said the town culture and tourism office. The income was secured from over 66,700 tourists, 52,600 of whom were foreigners, said Mesay Tadesse, office culture development expert. The above-mentioned income surpassed the amount from the previous year by 26.3 million Br, while the number of tourists increased by 30,600, Mesay added. The increase in the amount of tourists can be attributed to activities carried out to bolster the appeal in Lalibela Town.        

Manufacture-based Exports Increasing

Ethiopia garnered 2.7 billion dollars from exports in the recently-ended fiscal year, the Ministry of Industry (MoI) stated.  Of the 2.7 billion dollars, 207.2 million dollars was secured from the manufacturing sector, with leather and leather products accounting for the biggest share, followed by textile, agro-processing, pharmaceutical, and chemical products, Melaku Taye, the ministry's Communications director, said. Capacity building support and follow up contributed to the growth in the sector; revenue secured in the reported period surpassed the previous year by 89.3 million dollars, Melaku added.

Zone Collects 65.8m Br in Tax Revenue

Over 65.8 million Br has been collected in tax revenue from various income titles in Bench-Madji Zone, SNP State in the recently-ended fiscal year, the zonal revenue office said. The revenue collected surpassed the targeted sum of the just-ended period and the tax yield from the previous year by three million Br, said Techane Ayalew, office coordinator. The lush returns are attributed to, among other factors, continued tax awareness and education, as well as prompt office service rendering, Techane said. The office predicted the revenue collection of 83 million Br in the upcoming fiscal year.

Dire Dawa Grants Licences to Investors

The licensing of 211 investment projects worth over 738.8 million Br was done during the just-ended fiscal year, the Trade and Industry Bureau of the Dire Dawa Administration announced. Projects include forays into agriculture, food processing, construction, manufacturing, and real estate. The number of licensed projects surpassed the targeted goal of 200. Upon fully going operational, the projects will create jobs for over 10,600 people.