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ECA’s Economic Report on Africa addresses continent’s vulnerability during Covid-19
Spread the NewsThe disruptions caused by the Covid-19 pandemic pushed an estimated 55 million Africans into extreme poverty in 2020 and reversed more than two decades of progress in poverty reduction on the continent. This is according to the Economic Report on Africa 2021(ERA2021) launched Sunday on the margins of the Economic Commission for Africa’s…

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…

Expert urges gov’t to implement research based foreign currency exchange regime
Spread the NewsSeife Desta, National Bank of Ethiopia (NBE) former Banking and Foreign Currency Directorate Director urged the government on Friday to implement a research-based foreign currency exchange rate regime, which will be executed by considering the situation on the ground. Currently, Ethiopia is implementing a managed floating foreign currency exchange system. …

Dashen Bank profits 2.4 bln Birr before tax
Spread the NewsDashen Bank, among the most profitable banks in Ethiopia, has reported an annual profit of 2.4 billion Birr before tax during the financial year concluded on July 2021. Dashen mobilized 21.1 billion Birr in deposits, and its total deposit has reached 74.6 billion Birr, which registered 39.4 percent increase from last year’s performance,…

Ethiopia, Djibouti agree to advance mov’t of goods
Spread the NewsEthiopia and Djibouti agreed to expedite the transportation of Ethiopian goods from port. Berhanu Tsegaye, Ambassador of Ethiopia’s to Djibouti has conferred with Chairman of Djibouti Ports and Free zones Mr. Aboubaker Omer Hadi at the Djibouti International Free Trade Zone, to discuss issues of bilateral importance, with a focus on ways to…

Banks told to prevent themselves from threats of financial liberalization
Spread the NewsYared Hailemeskel, an Investment Advisor, told Ethiopian Banks to protect themselves from the threats of financial liberalization. The Advisor has presented his survey findings regarding the financial sector liberalization on the fifth edition of the East African Finance Summit on Wednesday. Ethiopian Banks have lower capital; less developed in technological aspects and banking…