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Local banks, experts wary of foreign banks entry
Spread the NewsBy Yared Nigussie Foreign banks entry to Ethiopia began during his imperial majesty Hailesilassie I regime. During the Italian invasion of Ethiopia in 1935, the Italians established branches of their main Banks namely Banca d’Italia, Banco di Roma, Banco di Napoli and Banca Nazionale del lavoro and started operation in the main towns…

Bank executives, scholars debate over foreign banks entry to Ethiopia
Spread the NewsExecutives of local banks and scholars have debated over the entry of foreign banks to Ethiopia at the business panel discussion focusing on “Opening of the Domestic Banking Sector to Foreign Banks: Opportunities and Challenges”, organized by Addis Abeba Chamber of Commerce and Sectorial Associations (AACCSA). The panel discussion held on Friday at…

Ambassador Jacobson visits transformative U.S. investments in Adama
Spread the NewsAmbassador Tracey Ann Jacobson, Chargé d’Affaires of the U.S. Embassy in Addis Ababa, visited Adama City in the Oromia Region. She sat down with Adama City Mayor, Hailu Jalde, met with community representatives, and visited transformative U.S. investments in the healthcare infrastructure and the youth of Oromia region. Ambassador Jacobson discussed continued cooperation…

Association requests suspension of excise tax
Spread the NewsThe Ethiopian Bottled Water, Soft drink, Fruits and Vegetable Processing/ Manufacturing Industries Association (EBSFMIA) said it has requested the government to lift the excise tax levied on bottled water. Ashenafi Merid, General Manager of the Association told Ethio Trade and Investment Show that bottled water producers have been paying an excise tax of…

Gov’t urges implementing quality policy to control trade deficit
Spread the NewsMinistry of Trade and Regional Integration said that it is mandatory to implement a national quality policy to control Ethiopia’s trade deficit. Ethiopia signed global trade exchange laws. However, Endale Mekonnen, State Minister of Trade and Regional Integration said in a discussion on Thursday that poor quality of products and services is the…

Ethiopia’s Coffee sold over 47,000 Birr per kg in Cup of Excellence Competition
Spread the NewsEthiopian Coffee and Tea Authority said Wednesday that the top-scoring coffee in 2022 Cup of Excellence Online Competition sold at a price 47,236.23 Birr per kilogram. The competition has been held for the third round in Ethiopia while this year’s international coffee quality competition held on Tuesday evening through online platform. This is…