Page 1 - Print Version Volume 22 - Number 1127
P. 1

Volume 22 No. 1127, SUNDAY, December 5, 2021 Content Matters

   Federal                                                                  T e n ( 1 0 ) b i r r o n ly
    Wheat
Procurement                                                      City Cabinet Lowers Interest Payments
  Flounders                                                          for Undocumented Homesteads

   Only three                                                  Determining interest on outstanding balance on lease fees remains controversial
     companies
                                                                 By BERSABEH GEBRE gives the Administration title deeds to 44,547 is subjected to demolition.
  submitted bids
                                                                 FORTUNE STAFF WRITER         the mandate to make             undocumented homesteads         To facilitate the lease
       By HAWI DADHI &                                                                        adjustments on the              that occupied land illegally    process, the Administration
       BERSABEH GEBRE                                            The Addis Abeba City         lease payment modality          in the 10 years beginning       established a land bank in
  FORTUNE STAFF WRITERS                                          Administration cabinet has   to ensure low-income            1996.                           2013.
Procurement officials at the federal                             granted housing properties   segments of the population
government have floundered in                                    erected on unlawfully        access land at affordable       Plots illegally occupied after  In 2010, the Administration
their efforts to buy hundreds of                                 occupied land reduced        prices. Three years later,      2005 are appropriated by        had granted the same
thousands of tonnes of wheat due to                              annual lease payment rates.                                  the City Administration and     entitlement to 60,000
uncertainties over lack of interested
bidders and technical issues.                                    It is based on a regulation the Administration began put under a land bank while               (Continued on PAGE 5)
The import of wheat is considered                                introduced in 2011, which the process of granting construction on these plots
crucial to stabilise the market and
provide welfare to low-income                                    FRESH LOOK, OLD HORSE
groups. The Ethiopian Trading
Business Corporation (ETBC), a                                                                                                                                                               Photo by: Sawrawork Tafari
state-owned enterprise established
with a capital of 3.8 billion Br in                              Teferi Mekonnen (right), president of the re-named Oromia    socio-political system.
2015, has been given the mandate                                 Bank, was joined by Yinager Dessie (PhD) (centre left),      “Oromia Bank reaches upward in promise, outward in
to buy wheat this year, unlike in the                            governor of the National Bank of Ethiopia (NBE), for the     friendship, and forward in confidence,” reads its new slogan.
past when the Public Procurement                                 unveiling of a new brand logo. Adanech Abiebie and Shimelis  The Bank has been showing growth over the years and its
& Disposal Service carried out                                   Abdisa, mayor of Addis Abeba and president of Oromia         industry peers. Its capital ballooned to three billion Birr
the task.                                                        Regional State, respectively, attended the event where one   last year from over a quarter of a billion Birr a decade ago,
The Corporation plans to import                                  of the mid-sized private banks made public its new brand     while its branch network expanded nearly 10-fold in the
400,000tn of wheat, inviting                                     aesthetics on December 2, 2021, at the Sheraton Addis        same period. Run for a decade by Abie Sano, now president
suppliers to participate in a bidding                            Hotel. Branches across the country also celebrated the new   of the state-owned Commercial Bank of Ethiopia (CBE), it
process. Only three companies of                                 brand logo with their staff.                                 netted 860.5 million Br over the past year but its injection
the 37 that bought bid documents                                 The new brand updates Oromia Bank’s characteristic green     of paid-up capital has come at a price for shareholders.
responded with offers to supply                                  and white logo. It also sheds the “International” in its     Bumps along the road will be hard to avoid, considering
80,000tns of wheat each in five lots,                            name and features a leaping horse superimposed over the      the political uncertainty and impacts on productivity.
sourced from Romania, Ukraine                                    globe - a melding of tradition and global outlook. It also   Oromia Bank hopes its new aesthetic will help it ride out
and Russia. One of them faces                                    has eight stripes representing the Geda, an indigenous       the challenges more smoothly.
disqualifications for failure to
comply with bid technicalities,
undermining the timely delivery of
the imported wheat.
One of the prospective suppliers,
the Dubai-based Promising
International, placed its bid for
lot five, planning to source the
wheat from Romania. If awarded
the contract, the company would
deliver the grain by July 2022 in two
rounds. Promising International

                       (Continued on PAGE 5)

Assets (2019/20) 	                            Dashen (68.3b Br)  BoA (57b Br)  NIB (42b Br)   Hibret (43b Br)                 Awash (89.3b Br)  LIB (31.8b Br)  BIB (18.9b Br)
   1   2   3   4   5   6