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Lights out! the aftershock

It has been a week now since the government of Ethiopia reintroduced the latest round of power rationing measures that rotates every two shifts during the course of a day. Although not new to Ethiopia, the power outage is already taking its toll on some of the major industries in Ethiopia like cement, metal and grinding mills, threatening the overall economy in terms of exacerbating the already built-up inflationary pressure and deteriorating export sector.

Ethiopia’s cannabis potential valued at USD 10 billion

The African Regional Hemp & Cannabis Report, 2019 industry outlook, a study by New Frontier Data, a Washington based research institute, indicated that cannabis, which is a genus of flowering plants in the family of Cannabaceae, recognized for its use in medical or recreational purposes, potential in Ethiopia has a market potential of USD 9.8 billion, standing second in the continent only following Nigeria’s USD 15.3 billion industry.

MoLSA to push for livable wages in ind. parks

The newly amended Ethiopian labor law, which is initiated by the Ministry of Labor and Social Affairs (MoLSA) and currently under review by the parliamentary standing committee, is said to have incorporated provisions that would help protect the basic rights of workers in terms of safe working environment and decent and livable wages, at the time when global rights advocates are increasingly publicizing the so called “exploitative” wages paid to works at newly built industrial park structures.           

New authority to regulate petroleum, its business

The House of People’s Representatives (HPR) has approved a draft legislation for the establishment of Petroleum and Petroleum Products Supply and Distribution Regulatory Authority. First tabled before the House in April this year, entitled, ‘a Proclamation to provide for the Establishment of Petroleum and Petroleum Products Supply and Distribution Regulatory Authority, was referred to the Trade and Industry Affairs Standing Committee for further revision.

Habesha to launch draught beer

On the hills of a successful launch of the non-alcoholic product line, ‘Negus’, HabeshaBrewaries S.C. – now one of the most recognizable beverage producer in the nation – is set to launch the draught version of its signature beer ‘Habesha beer’later this year, The Reporter has learnt.

Local Group lands JV deal with Geepas

Belayab Group – a conglomerate with a diversified business portfolio ranging from hospitality, electric cables supply and food processing in addition to car assembly has signed a joint venture agreement with Geepas—a leading consumer electronic brand in the Middle East – for the manufacturing and assembly of Geepas products in Ethiopia.

Central Bank directive frustrates oil companies

A directive issued by the National Bank of Ethiopia (NBE) requesting foreign oil companies engaged in oil and gas exploration and development projects in Ethiopia to open a foreign currency bank account in Ethiopia has frustrated international oil companies. 

Local company eyes Wonji, Metehara

The newly established Ethio-Sugar Manufacturing Share Company has started negotiations to acquire both Wonji-Shoa and Metehara Sugar Plants, pioneering state-owned sugar crushers established by the Netherlands HVA Company some 70 years ago.