#architects'fee The government will soon determine fees in the construction industry for design and supervision works, ending a competitive market applied to date. The rare move in attaching value to a professional service comes in the wake of a study jointly commissioned by the Construction Management Institute and the Ethiopian Consulting Engineers & Architects Association. Price-based competition is apparent in the construction industry, manifesting a trend of poor quality design work and subpar supervision activities, says a study conducted by HABCON Consult Plc. The Institute and the Association, representing over 1,000 companies in the construction industry, held discussions on the study's findings. It concludes that unfair and cut-throat competition tempts architects and consultants to collude with contractors landing in contracts at low fees that are insufficient to cover direct costs associated with consultancy services. The Institute formulated a guideline for consultants` fees, sent to the Ministry of Urban Development & Infrastructure last week. The Ministry is expected to forward the guidelines to the Ministry of Finance to be used as a reference during public procurement processes. Source: addisfortune.news 20
#CBE inaugurates new HQ Commercial Bank of Ethiopia (CBE) inaugurates the nation’s tallest headquarter on the 8th of February 2022 in conjunction with celebrating its 80 year-diamond anniversary with the presence of the bank’s president, board members and higher government officials. The new headquarter which has taken 5 years and 11 months to complete is said to be the tallest skyscraper in east Africa and the third tallest in Africa. The new headquarter which was built at a cost of 303.5 million USD, China State Construction Engineering Corporation took the construction of the building. The building has 53 stories, 13 commercial floors, 11 floors for conference center. The headquarter area for public access includes exhibition area, cafeteria, sighting area, meeting halls, shopping mall, cinema, gymnasium, spa, children entertainment, restaurant and game areas, among others including parking area which has capacity to handle more than 2000 cars at a time.
