cbe noor
one east
FORTUNE+ VIDEO JOBS SPONSORED CONTENTS FORTUNE AUDIO TRADE AFRICA new

Fortune Logo



Postal Service Earns 86m Br Profits

October 9 , 2021

Postal Service Earns 86m Br Profits

The Ethiopian Postal Service Enterprise has reported profits of 86 million Br for the last fiscal year, 11pc higher than its target. The Enterprise's alliance with the Ethiopian Public Health Institute (EPHI) to transport COVID-19 samples have contributed to its latest performance. The postal service provider recently adjusted rental fees for boxes for the first time in 11 years, raising them by as much as 600pc. The rental fee for a regular mailbox surged to 600 Br from 85 Br annually while the fee for larger mailbox soared by 500pc to 170 Br. Only 40pc of the 124,000 boxes of the 128-year-old state-run postal service provider are rented.

Radar

Leather Industry Struggles to Meet Expectations

The struggling leather industry managed a little over 33 million dollars in export earnings over the first 10 months of the financial year. It is less than half of officials' aspirations to generate 69 million dollars over the same period, and highlights the troubles faced by the industry over the past few years. Exports from finished leather goods plunged 72pc last year from three years ago. Only eight finished leather manufacturers accounted for 89pc of last year's export earnings, sh...

Read more >>

Radar

Corporation Calls on Suppliers for 200,000tn Sugar Procurement

Executives of the Ethiopian Sugar Corporation have taken steps to procure 200,000tn of sugar from international suppliers. The Corporation had invited shortlisted companies to submit offers, after an attempt to procure the sugar through an international tender went awry. However, officials at the Ministry of Finance instructed its executives to scrap the invitation and proceed to float a second bid. The shortlisted suppliers have also been invited to take part in the bidding process. T...

Read more >>

Radar

TAGGED

Youth in the National Theatre area are waiting for the bus to start moving. They have found a handle to grab and accelerate them ones its starts moving as they ride their skateboard. Although skateboarding is nearly unheard of in Ethiopia, over the past few years, young people have developed a taste for it. Safety, though, leaves a lot to be desired...

Read more >>