State Construction Firms Bag 770m Br in Revenues

December 5 , 2020


State Construction Firms Bag 770m Br in Revenues

Two state-owned construction companies under the auspices of the Public Enterprises Holding & Administration Agency generated 770.5 million Br in revenues during the first quarter of this fiscal year. Ethiopian Construction Design & Supervision Works Corporation has bagged 178.2 million Br in revenues, achieving 70 pc of its target. Out of its total income, 41,000 dollars was generated in foreign currency. and 49.6 million Br was gross profit. The Ethiopian Construction Works Corporation has also generated 601.3 million Br in revenue, surpassing its target by 5pc. During the same period, the Corporation had planned to incur 32.1 million Br in losses; however, it made a profit of 96.5 million Br. During the past fiscal year, the 22 public enterprises under the Agency grossed 300.5 billion Br and 55.6 billion Br in revenues and profit, respectively.


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...


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...


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...