When the Ethiopian economy was hit by a foreign currency crunch in 2009, the East African Bottling Share Company, which bottles Coca Cola in Ethiopia, was forced to stop production. The Company was unable to import raw materials because opening a letter of credit (LC) was a challenge at the time. This led to the closure of its plant in March 2009. Production resumed when the Commercial Bank of Ethiopia allowed the bottler to open a 1.8 million dollar LC. Four years later, the Ethiopian Economy is experiencing the same bottleneck. However, this time around, the Company seems prepared for the storm. It has received a 25 million dollar transfer from its shareholders abroad so that history will not repeat itself. Mr. Greig Jansen, Managing Director of the Company talks with Amanyehun R. Sisay, Executive Editor of Ethiopian Business Review about the situation and what is in store for Coca Cola, Excerpts:

Sunday, 17 February 2013 09:45
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Last December, Mulu Solomon rose to the helm of the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA), becoming the organization’s first female president. During her brief time she has worked to smooth relations with the Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA), facilitate discussions on Ethiopia’s plan to join the World Trade Organization. She has also been working to improve Ethiopia’s business climate. After a recent visit to Handwerkskammer (HWK), a Chamber of Commerce based in Berlin, Germany, she sat down with Amanyehun R. Sisay, Executive Editor of the Ethiopian Business Review (EBR) Magazine, for an exclusive interview to talk about the latest progress of ECCSA.

Friday, 30 November 2012 15:24
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The Ethiopian Federal Parliament, in late September, convened a rare emergency session. The agenda items were equally extraordinary because appointing a new Prime Minister was unthinkable as recently as a couple of months ago.

After missing from the public eye for weeks, the death of former Prime Minister Meles Zenawi, at a Belgian hospital, was announced on August 20. The illness has not been disclosed to date.

Meles, who ruled the country since 1991, was both Prime Minister of Ethiopia and chairman of the ruling Ethiopian Peoples’ Revolutionary Democratic Front (EPRDF). The ruling party, which unseated the previous communist regime after a bloody 17-year armed struggle, has formidable control of the nation’s politics with over five million members. The party controls over 99 per cent of all Federal and Regional Parliament seats in the country.

After a month of speculations and mixed signals from the EPRDF leadership following Meles’ death, a 40 minute parliamentary emergency session promoted little known Hailemariam Desalegn as the country’s new Prime Minister on Friday, September, 21, 2012.

Thursday, 01 November 2012 16:50
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