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Ethiopia's Amhara regional state announced a decision to privatize, fully or certain shares of them, 10 or more companies under the umbrella of the TIRET Corporate conglomerate run by the regional government.

Abate Sitotaw, TIRET's Deputy CEO, speaking to ENA, said they reached the decision with the intent to increase the efficiency and profitability of the companies. Comprised of nineteen companies, the TIRET Corporate conglomerate boasts of 12,000 permanent and casual jobs.

Established in 1995 as an endowment organization in the Amhara regional state with an initial capital of 20 million birr, TIRET's companies now include Tikur Abay Transport, Ambasel Trading House, Bahir Dar and Kombolcha Textile Share Companies, Dashen Brewery and Gondar Malt Factory, among others.

Source: https://www.2merkato.com/news/alerts/5750-10-or-more-ethiopia-s-tiret-companies-to-be-privatized

 

Ethiopia's Amhara regional state announced that investors with a combined capital of over 39 billion birr (over $1.34 billion) have obtained licenses over the past 12 months.

Yihnew Alem, head of the regional state’s industry and investment bureau, speaking to Fana BC, said the licenses were issued for 1, 671 investors. Regardless, Mr. Yihenew pointed out, the number of licenses issued greatly surpassed the goal set by the bureau. While the plan was to license 824 licenses for the period indicated, now the figure looms at over double of this.

Investment flow to the region is increasing, the bureau head indicated, and cited Dejen Cement's 8.2 billion birr project and the Bure Edible Oil Factory, which is expected to cover over 60 percent of Ethiopia's demands, to show for it. 

The newly licensed investment projects will create employment opportunities for over 204 thousand workers, Mr. Yihewnew noted.

 

Source: https://www.2merkato.com/news/alerts/5754-ethiopia-s-amhara-region-licenses-investment-projects-worth-over-134-in-a-year

The airport informed that it handled 310 flights and 29,528 international passengers (21,028 departing and 8,500 arriving passengers, respectively) travelled through the airport. This marked a record number of daily passengers served at the terminal. 

Commenting on the airport’s preparedness for the peak season, Getaneh Adera, director of Bole International Airport and acting CEO of Ethiopian Airports said: “With the partial opening of the new terminal which will more than double the capacity of the airport, we are very excited to serve record number of passengers in this summer.”

The airport has seen a major expansion recently which will boost its capacity to cater to 22 million passengers annually.

Upon going fully operational, the expanded terminal will feature state-of-the-art airport facilities, elegant and spacious check-in, arrival and departure halls, various duty-free shops, restaurants, and many other accommodations, taking the entire passengers’ experience to a whole new level.

As the home base of Ethiopian Airlines, Africa’s largest flag-carrier serving over 120 cities around the world, Addis Ababa has turned into a bustling hub handling hundreds of flights each day. 

Ethiopian Airlines informed through a statement: “It is to be recalled that last year Addis Ababa surpassed Dubai as the top transit hub for long-haul passengers into Africa.”

Source: https://www.stattimes.com/ethiopias-bole-airport-sees-record-passenger-numbers-aviation

 

Efforts are underway to finalize the construction of Bure integrated agro-industry park early next Ethiopian fiscal year, said Dagnachew Asres, CEO of the park.

The park is being built in three phases on 1,000 hectares of land with more than 4 billion birr. It is more than 75% complete.

Utmost efforts are underway to finalize the remaining works during this rainy season, including the construction of infrastructures, Dagnachew told FBC.

The construction of Bure integrated agro-industry park was commenced last Ethiopian fiscal year.

The industrial park is expected to create employment opportunity for more than 5,000 people once it goes fully operational.

Source: https://fanabc.com/english/2019/07/works-underway-to-finalize-bure-agro-industry-park-early-next-ethiopian-year/

 

 

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