Tiret Set to Privatise 10 Companies

Jul 20 , 2019


Tiret Corporate, an endowment company of the Amhara Regional State, is preparing to privatise 10 corporate companies. A decision has been made to privatise the companies to increase their efficiency and profitability, according to Abate Sitotaw, deputy CEO of Tiret Corporate. Established in 1995 as an endowment organisation with an initial capital of 26 million Br, it currently employs 12,000 people. Headquartered in Bahir Dar, Tiret was established with seed money contributed by the former Ethiopian Peoples’ Democratic Movement (EPDM) and its 25 founding members. The party has acquired a new name, Amhara Democratic Party (ADP). The endowment has several businesses under it that run subsidiaries including Tikur Abay Transport, Ambasel Trading House, Bahir Dar and Kombolcha Textile share companies, Dashen Brewery and Gondar Malt Factory.


Radar

Coffee Exports Bring in 1.5B Br 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...