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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…

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…

NBE extends deadline for updating Banks customers’ info’s
Spread the NewsThe National Bank of Ethiopia (CBE) has extended the deadline for banks customers to update their personal information by two months. Customers updated their information in the last six months. However, there are customers who failed to do so due to different reasons. The fresh deadline is intended to facilitate opportunities for these…

Hotel owners continue to reel from Covid-19 pandemic
Spread the NewsHotel owners have been bracing for difficult years as the sector continues to reel from a drop in bookings caused by the Covid-19 pandemic, according to Addis Abeba Hotel Owners Association. Hotels in Addis Abeba and regions are losing $35 million and $10 million respectively in a month due to the negative effects…

World Bank approves $300 mln to support Ethiopia’s conflict-affected communities
Spread the NewsThe World Bank has approved a $300 million International Development Association (IDA) grant to support the recovery of conflict-affected communities in Ethiopia. The grant will finance a Response-Recovery-Resilience for Conflict-Affected Communities in Ethiopia Project, which targets to reach out more than five million people. The project will support efforts to address the immediate…

Solomon Gizaw (Captain), Managing Director of Abyssinian Flight Services PLC speaks the challenges in the aviation sector
Spread the NewsThe United States Federal Aviation Administration (FAA) warned last week pilots that planes operating out of Ethiopia’s main international airport – one of busiest in Africa – could be “directly or indirectly exposed to ground weapons fire and/or surface-to-air fire” if the country’s spiraling conflict nears the capital, Addis Abeba. FAA cited that…