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FOREX price gap with parallel market rate drops to 4 percent in month: NBE Governor
Addis Ababa, September 6, 2024 (FBC) – The foreign exchange market gap with parallel market price has significantly declined from 100 to 4 percent in a single month following the…
Recent reforms instrumental in driving growth of manufacturing sector – Minister
Addis Ababa, September 5, 2024 (FBC) – The implementation of comprehensive and robust reforms in Ethiopia has been instrumental in driving the growth of the manufacturing sector in recent…
Ethiopia, China contemplating currency swap deal
Addis Ababa, September 5, 2024 (FBC) – Ethiopia’s Minister of Finance, Mr. Ahmed Shide, revealed that China has pledged financial backing of 400 million yuan (in the region of 56,342,800…
Ethiopia’s Pharmaceutical Sector Garners US$1.5B Income Annually, Says Minister
Addis Ababa, September 4, 2024 (FBC) - Ethiopia's Minister of Health Dr. Mekdes Daba underscored the substantial financial prospects inherent within the nation’s burgeoning pharmaceutical…
Toyo Solar targets $100M investment in Ethiopia with potential for 400+ employments
Addis Ababa, September 4, 2024 (FBC) – Toyo Solar, a subsidiary of Japan’s Toyo Corporation, has expressed its interest in capitalizing on investment opportunities available in Ethiopia’s…
Ethiopia tops foreign direct investment in East Africa – Finance Minister
Addis Ababa, September 4, 2024 (FBC) – Minister of Finance Mr. Ahmed Shide stated that Ethiopia has emerged as the top destination in East Africa for attracting foreign direct investment,…
Ethiopia’s recent economic reforms opened up new opportunities for investors – FM Taye
Addis Ababa, September 4, 2024 (FBC) – The Minister of Foreign Affairs, Taye Atse-Selassie, stated that Ethiopia's recent macroeconomic reforms have opened up new and promising opportunities…
MIDROC Investment Group, Gates Foundation ink MOU
Addis Ababa, September 2, 2024 (FBC) - MIDROC Ethiopia Investment Group and Bill and Melinda Gates Foundation have entered an agreement to cooperate in various domains of agriculture.
The…
Dev’t Bank of Ethiopia achieves significant loan portfolio improvement owing to recent reforms
Addis Ababa, September 2, 2024 (FBC) – The Development Bank of Ethiopia (DBE) revealed that it has reduced bad loans from 57 percent to 6.5 percent through reforms it carried out in the last…
Ethiopian Airlines bridges continents with new Dhaka route
Addis Ababa, August 30, 2024 (FBC) – Ethiopian Airlines, Africa's leading carrier, has announced the commencement of its new six weekly flights to Dhaka, Bangladesh, starting November 1,…