Judges Re-up 14-Day Custody of Bereket, Tadesse

Feb 9 , 2019


Judges at the Regional High Court in Bahir Dar gave 14 additional days for the Amhara Regional State Anti-Corruption Commission to continue their investigation and keep Bereket Simon, former board chairperson of Tiret Corporate, and CEO Tadesse Kassa in custody. In the session held on February 9, 2019, investigators stated that they have not finished their investigation and asked for an extension of custody to finalise their probe. The ongoing audit toward the sale of Dashen Breweries S.C to Duet, a British investment company, is the reason mentioned by the investigators to request for additional days. Tiret sold 51pc of Dashen to Duet in 2013. Bereket and Tadesse were arrested on January 23, 2019, suspected of allegedly misusing 35 million Br of public money while they worked as executives at Tiret. In the previous court session, held on January 25, 2019, the court denied the suspects’ appeal to transfer their trial to the Federal Court.


Radar

Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


Radar

Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


Radar

City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...