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Safaricom Ethiopia PLC partners with Ethiopian Electric Utility for aerial fibre cabling
Spread the NewsSafaricom Telecommunications Ethiopia PLC and Ethiopian Electric Utility (EEU) have signed a three-year lease agreement to enable aerial fibre installation through the existing poles infrastructure in Addis Abeba and across the country. As Safaricom continues to build a new network in Ethiopia, investments in infrastructure and strategic partnerships are being prioritized to ensure…

Zemen Bank amasses gross profit of 1.2 bln Birr
Spread the NewsZemen Bank announced Saturday that it has amassed a gross profit of 1.2 billion Birr in 2020/2021 fiscal year, which was concluded in July 2021. Zemen’s total asset also reached 25.2 billion Birr as of July 2021, which has registered a 36.66 percent higher than the previous year figure. As of July2021, its…

Ethiopian Airlines, UTD Aviation Solutions, AFRAA sign MoU to re-establish African Aviation Renaissance in MRO services
Spread the NewsEthiopian Airlines MRO, UTD Aviation Solutions and the African Airlines Association (AFRAA) have signed a tripartite Memorandum of Understanding (MoU) to work together on Maintenance, Repair, and Overhaul (MRO) services in pursuance to the Brown Condor Initiative (BCI). The signing ceremony took place last week at Ethiopian Airlines headquarters in Addis Abeba. The…

ID Ethiopia, Safaricom PLC agree to work on national ID program
Spread the NewsID Ethiopia has signed a Memorandum of Understanding (MoU) with Safaricom Telecommunications Ethiopia PLC to partner in the digitalization of the National ID program. The MoU discusses the setup of joint pilots for registration and eKYC integration. eKYC process includes ID card verification, face verification, document verification such as utility bills as proof…

Enat Bank to launch construction of new headquarters
Spread the NewsEnat Bank Share Company said that it is about to launch construction of its new headquarters at a plot of land in the financial district commonly known as Senga Tera. “The construction of our new headquarter will be sprawled over 4000 square meter of land, which we received from the City Administration of…

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…