Bidders failed to show up during the foreclosure of Addis Cable and Wire Manufacturing and Ed Stelar Foods factories, which was up for sale for a floor price of 878.5 and 114.9 million birr, respectively. – Only one bidder showed up for Ed-Stelar`s auction – Foreclosure of Addis Cable for 878 mln bore no fruit
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The Government of the Federal Democratic Republic of Ethiopia has issued today Invitation for Expression of Interest for the partial privatization of Ethio Telecom and Kicks of stakeholder consultation process for the third telecommunications operating license. During the briefing on the invitation for expression of interest, H.E Ato Ahmed...
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“By having a working STR, the marginalised groups will find it easier to conduct business, earn incomes and improve their livelihoods. Thus, the STR will help our governments achieve balanced economic development to empower women and the youth,” he said, noting that development of common lists of traded products, agreement of the STR threshold...
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The committee has already started work to amend Ethiopia’s half-a-century old financial code, local reports said meaning the long-awaited easing of restrictions on foreign banks making investments in Ethiopia has inched closer.
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The system enabled the Bank’s all profit rate adjustments to be made within the confines of the rules of Islamic jurisprudence and handled automatically.
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Ethio telecom and Afro Procurement Solutions PLC signed an agreement for the sale of ethio telecom's tender information publishing and bid document online sales using tele birr.
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የኢትዮጵያ ኤሌክትሪክ ኃይል ከሳፋሪኮም-ኢትዮጵያ ኃላፊነቱ የተወሰነ የግል ማህበር ጋር የኦፕቲካል ፋይበር ኪራይ ሥምምነት ተፈራረመ፡፡ ሥምምነቱን የተፈራረሙት የኢትዮጵያ ኤሌክትሪክ ኃይል ዋና ሥራ አስፈፃሚ...
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Ethiopian Electric Power and Safaricom Ethiopia signed a 5 years lease agreement to share optical fiber infrastructure in the country. Ashebir Balcha, CEO of Ethiopian Electric Power, and Anwar Soussa, CEO of Safaricom Ethiopia signed the agreement. The agreement covers the first phase of 4097 km, the second phase 2078 km, and the third phase 2904...
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Climate change impacts are already more widespread and severe than we thought, and things will probably get worse due to locked-in emissions as well as slow responses to the climate crisis. Rapid heating will have severe consequences on our health; it will lead to habitat loss for many animal and insect species and cause a significant drop in...
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“This new intersection is part of an ambitious wildcat resource extension hole and demonstrates that the Segele gold mineralization is now greater than 400m ‘down plunge’ from the surface outcrops” Akobo Minerals
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Nigerian mobile payments and financial services company Paga has partnered with the Bank of Abyssinia and received regulatory approval from the National Bank of Ethiopia to launch its online payment gateway in Ethiopia. Founded in 2009, Paga provides Nigerians with safe and convenient ways of making payments, allowing money to be sent to any...
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“As far as our preparedness, the equipment for the M-pesa platform has been ordered,” said Pedro Rabacal, Chief Technology Officer of Safaricom. He explained that the consortium is waiting on the rent and that it’s a matter of getting the right documentation in place from the right authorities to be able to import the equipment. As per the...
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Ethiopia will soon have its own Capital Market Authority that will supervise and regulate a new financial market, where equities, bonds and financial derivatives will be transacted, according to a bill drafted by the National Bank of Ethiopia (NBE).
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Ethiopia is busy opening up its telecoms sector, ending a government monopoly under Ethio Telecom, which could allow foreign companies a foothold in a country of 110 million people.
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‹‹በቅርቡ ሙሉ በሙሉ አገልግሎት መስጠት እንደሚጀምር ምስክር መሆን እችላለሁ›› ወ/ሮ ዳግማዊ ሞገስ፣ የትራንስፖርት ሚኒስትር
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A new directive issued by the National Bank of Ethiopia (NBE) requires insurance companies to receive confirmation from Ethiopian Reinsurance (Ethio-Re) before covering a risk that exceeds 30pc of their gross capacity. The 11-page directive, which became effective as of August 17, 2020, makes Ethio-Re the lead reinsurer for any risk that falls...
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The Ministry of Revenue of Ethiopia honored 200 loyal companies and highest tax payers for Ethiopia’s budget year concluded July 7, 2020. The second round Federal Taxpayers’ Recognition Ceremony was held on Thursday evening in the presence of Prime Minister Abiy Ahmed. The companies, which are awarded trophies for handling properly their...
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The Ethiopian Economic Association (EEA) has weighed on the potential effects of Ethiopia’s recent demonetization in terms of its economic implications both on the financial and the real economy. This week, the government of Ethiopia has announced the introduction new currency notes, with enhanced security features. The association in its press...
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The Federal Documents and Authentication and Registration Agency of Ethiopia today announced that it will no longer authenticates property deals made using cash payment. As of today, September 17, 2020, the Agency can only authenticate selling and buying of properties if only the parties made the transaction through formal banking system, the...
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ሰሞኑን በኢትዮጵያ በተለያዩ ክልሎችና 23 ዞኖች በጣለው ከባድ ዝናብ በተከሰተ የጎርፍ አደጋ ከ217 ሺሕ በላይ ነዋሪዎች ከቀያቸው ሲፈናቀሉ፣ 580 ሺሕ ነዋሪዎች ደግሞ አደጋው እንደተጋረጠባቸው ተገለጸ፡፡ አደጋው...
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