Ethiopian Business Review

Number of people registered for the 40/60 house construction scheme out lined by the Addis Ababa Housing Development Agency. Out of this number, four pct were registered for one bed room, where as 44pct and 51pct were registered for two and three bed rooms respectively. The registration, which took place from August 12 through 23, 2013, was also open for the Ethiopian Diaspora living in the different parts of the world. The registration was solely handled by the more than 100 branches of Commercial Bank of Ethiopia in the capital, unlike the other two schemes, the 90/10 and the 20/80, which had long processes handled by local Woreda offices of the city administration. Unlike these two schemes, the 40/60 scheme also gives delivery priorities for people who paid the whole cost of the houses up front. Close to ETB 52 billion will be collected when every registered individual pays the full amount. Addis Ababa Integrated Housing Development Program is a new housing program managed by Addis Ababa City Condominium Development Enterprise. The whole housing project is expected to consume about ETB67 billion upon a planned completion in five to seven years.

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Since the legislation went into effect in 2000, exports under the African Growth and Opportunity Act (AGOA) have increased by more than 500 pct, from USD8.15 billion in 2001 to USD53.8 billion in 2011. About 90 pct of these exports has  been oil, which underscores Africa’s growing strategic importance to the United States.

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In Birr is the amount of money collected from the public, out of the pledged 10.2 billion for the construction of the Grand Ethiopian Renaissance Dam (GERD), as reported by the National Council for the Coordination of Public Participation. The collected money has covered 23pct of the expenses so far. The report by the Council, which held its annual meeting, which was closed to the media other than the public owned Ethiopian Television at Sheraton Addis on August 2, 2013, stated that 24pct of the construction of the project is completed. This progress was 13pct last year at this time. By the end of August, the progress of the construction of the dam is planned to be 26pct. GERD, whose construction started on April 2, 2011, will have a power generation capacity of 6000MW and will consume USD4.8 billion upon completion in 2017.

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