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Ethiopian investors build first private textile industrial park
Spread the NewsEthiopian investors are constructing the first private textile industrial park in Hawassa town, the regional capital of Sidama Regional State, at a cost of four billion birr, it was learnt. The textile industrial park will have a total of 14 sheds each resting on 11,000 square meters of land. The industrial park will…
Ethiopian launches car hire, transfer service in partnership with CarTrawler
Spread the NewsEthiopian Airlines, the largest aviation group in Africa, announced that it has partnered with CarTrawler, the leading provider of online car rental distribution systems, launching car hire and transfer services for its passengers globally. The partnership enables Ethiopian to offer seamless transport service to passengers throughout their journeys. Commenting on the launch of…
Ethiopian owned NoC Djibouti launches $1.3 mln project in Djibouti
Spread the NewsAs part of expanding investments in neighboring countries, NoC Djibouti has signed an agreement with China Construction to significantly renovate and modernize a service station worth $1.3 million on Wednesday. Minister of Energy and Natural Resource, Yonis Ali Guedi, Minister of Interior, Seid Nouh and Ethiopian Ambassador to Djibouti, Berhanu Tsegaye and scores…
Ethio Sugar plans to launch trial production in four years
Spread the NewsEthiopia Sugar Manufacturing Industry Share Company announced that it has a plan to launch a trial production after four years. The factory will also start producing and exporting sugar in five years. Bitew Alemu, CEO of Ethio Sugar Manufacturing Industry Share Company said in a press conference Tuesday at Sheraton Addis that once…
Safaricom ranked “Most Valuable Firm” in East Africa by market cap
Spread the NewsAccording to a report— a compilation of the most valuable brands by market capitalization – by analysts at AfricanFinancials Group, Safaricom is the most valuable brand in East Africa and Mauritius, with a market capitalization of $15.4 billion. Safaricom’s shares have soared following its announcement of securing a telecommunications license to operate in…
AfCFTA could boost maritime trade in Africa, reveals new report
Spread the NewsUNCTAD’s Review of Maritime Transport 2021 stated that the African Continental Free Trade Area (AfCFTA) could boost intra-African trade by up to 33 percent and cut the continent’s trade deficit by 51 percent. A study by the UN Economic Commission for Africa with a time horizon of 2030 indicates that cargo transported by…