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Business
Ethiopia earns $13mln from power export to Djibouti, Sudan in 2 months
Addis Ababa, October 10, 2022 (FBC) – Ethiopian Electric Power announced that it has earned more than 13 million USD from electric power export to Sudan and Djibouti in the last 2 months.…
City earns 886mln Birr revenue from municipal services in 3 months
Addis Ababa, October 8, 2022 (FBC) – Addis Ababa city administration office announced that it has collected more than 886 million Birr in revenue from municipal services in the last three…
NBE freezes accounts of 392 individuals over trading foreign currencies in parallel market
Addis Ababa, October 7, 2022 (FBC) - The National Bank of Ethiopia (NBE) ordered banks to freeze the bank accounts of over 392 individuals accused of trading foreign currencies in the…
MIDROC, Marriot Int’l sign hotel investment agreement in Tana and Hawasa Lakes
Addis Ababa, October 7, 2022 (FBC) - MIDROC Investment Group and Marriott International have signed a hotel investment agreement in Tana and Hawasa Lakes.
Both firms signed three…
EEP posts 2.7bln Birr income from domestic power supply, OPGW rental
Addis Ababa, October 6, 2022 (FBC) – Ethiopian Electric Power (EEP) has announced that it has collected more than 2.7 billion Birr from local power supply and Optical Ground Wire (OPGW)…
Safaricom Ethiopia switches on its network, services in Addis Ababa
Addis Ababa, October 6, 2022 (FBC) – Safaricom Ethiopia has today switched on its mobile telecommunications network and services in Addis Ababa. Safaricom Ethiopia is also holding a ceremony…
EIH, TMSA agree to renovate Qality inland port and terminal
Addis Ababa, October 5, 2022 (FBC) – Ethiopian Investment Holdings has reached an agreement with Africa’s leading global logistics gateway, Tanger Med Special Agency (TMSA), to renovate the…
Kanoria Africa Textile PLC announces a plan to manufacture textile chemicals
Addis Ababa, October 5, 2022 (FBC) – Kanoria Africa Textile PLC is the first fully integrated textile factory that uses Ethiopian cotton to produce Denim fabric and jeans garments.…
Companies in Aegean Free Trade Zone of Turkiye keen on investing in Ethiopia
Addis Ababa, October 5, 2022 (FBC) – Companies operating in Aegean Free Trade Zone of Turkiye have expressed interest to invest in Ethiopia.
The pledge by companies came at a time when an…
CBE claims top spot with $22bln total asset among East African banks
Addis Ababa, October 4, 2022 (FBC) - The Commercial Bank of Ethiopia (CBE) ranks first among all East African banks with a total asset of 22 billion USD, and it has almost double the assets…