Addis Fortune (Addis Ababa)

Ethiopia: News in Brief From December 30, 2012

CONSTRUCTION

Water Facilities Under Construction inWest Wollega

The construction of water facilities has been launched in West Wollega Zone of Oromia Regional State at a cost of 29 million Br, the zonal water, mines and energy office said. The facilities include the construction of 932 spring developments and 215 hand-dug wells, Gurmessa Oljira, deputy head of the office said. The public will contribute in cash and through labour for the projects which will benefit more than 255,000 residents, he added. The facilities are expected to raise the water coverage of the zone to 78.5pc from 63.4pc at present. The construction of three spring developments is underway at a cost of two million Birr in Gimbi town, according to Gurmessa.

Publication: Ethiopian Herald, December 30, 2012.

Youth Centre Starts Service inKombolchaTown

A youth centre constructed in Kombolcha town ofAmhara RegionalState at a cost of three million Birr started providing services last week. The centre was constructed with a budget solicited from Amhara Development Association (ADA) 2002 telethon program. The centre includes a library, hall, cafeteria, indoor games and other facilities.

Publication: Ethiopian Herald, January 02 2012.

FINANCE

Credit, Saving Institution Loans 1bn Br

Addis Credit and Saving Institution (ACSI) loaned close to one billion Birr to 78 customers as part of its target in the Growth and Transformation Plan (GTP). The institute has been striving to support Micro and Small Enterprises (MSE) for the last eight years, according to Shebir Berhanu, institute deputy managing director. The institute is working to reach the lending capacity to 1.2 billion Br and to solicit 80pc of the saving for loan service. Currently, the institute is loaning up to one million Birr and focusing on improving customer service.

Publication: Addis Zemen, December 30, 2012.

Buna Bank opens 25th Branch inGambellaTown

Buna International Bank (BIB) opened its 25th branch in Gambella town last week. The opening of the branch will help to expedite development, attract more investment and create job opportunities, said Tomas Tut, Gambella regional state chief's office and cabinet affairs head. Ample investment and trade activities in the state were cited as reasons for opening a branch in Gambella town by Board Chairperson of BIB, Marshal Fikremarkos. The Bank has provided loans over 1.5 billion Br to more than 400 investors since its establishment three years ago.

Publication: Addis Zemen, January 2, 2013.

EDUCATION

Technical Institute Goes Operational in Tikur Enchini

A Technical and Vocational Training Institute (TVTI) constructed by the government and the public in Tikur Enchini Wereda, West Shoa Zone of Oromia Regional State at a cost of 13 million Br has gone operational. The Institute houses classrooms, wood and metal workshops, a library, offices and other facilities, according to Terefe Bekele, the institute director. The Institute is training 280 students in a various fields and is expected to enroll 500 students up to level four.

Publication: Addis Zemen, January 01, 2012.

INDUSTRY

Ethiopiato Set Up Chemical Industry Corporation

A directive has been ratified to establish a Chemical Industry Corporation, which will oversee chemical industrial development inEthiopia, by the Ministry of Council. The Ethiopian Chemical Industry Corporation will be set up under the auspices of the Ministry of Industry (MoI). Close to 21.7 billion Br has been allocated to establish the corporation and 5.4 billion Br has been put to use to establish the new corporation to date, according to Melaku Taye, corporate communications directorate director of MoI. The corporation will be mandated to set up factories to produce fertilisers, rubber tree products, cements and other chemical products for domestic as well international market.

Publication: Addis Zemen, January 01, 2012.

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