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Expert urges gov’t to implement research based foreign currency exchange regime Â
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.    …

PepsiCo deepens its commitment to Ethiopia with $40 mln cash injection
Spread the NewsCAPE TOWN, South Africa, 1 November 2022, /African Media Agency/- PepsiCo is finalizing an investment proposal of approximately USD 40 million (2 billion Birr)to expand its Senselet snacks business in Ethiopia, and is considering the possibility of further investments in the country to expand the company’s portfolio beyond snacks. Senselet is a wholly…

TotalEnergies launches this year Startupper challenge
Spread the NewsTotalEnergies has announced that it has launched the third edition of the Startupper of the year challenge on Tuesday. For this edition, the Startupper of the Year Challenge by TotalEnergies is poised to support and reward young local entrepreneurs between ages of 18 and 35, who either have a business creation project or…

Bank of Abyssinia posts sharp rise in pre-tax profits
Spread the NewsBank of Abyssinia (BoA) has posted a sharp rise in gross profit to 2.05 billion Birr in the concluded fiscal year in June 2021, which registered an increment of 90 percent compared to the previous year performance. BoA conducted its 25th annual regular shareholders general meeting on Thursday at Inter Luxury Hotel. “Our…

Derba Cement to build second plant
Spread the NewsBy Kaleyesus Bekele Derba Cement is going to build second cement manufacturing plant at a cost of 300 million dollars. The company has selected the Chinese construction company, Sinoma International Engineering to build the new line. CEO of Derba Cemenet Haile Assegidie and Han Xuefeng, Regional Marketing Director, Sinoma International Engineering, signed the…

IPDC, Djibouti Ports Freezone Authority agree to scale up cooperation
Spread the NewsIn light of further strengthening the Ethio-Djibouti trade and investment cooperation, a delegation from Industrial Parks Development Corporation (IPDC) is paying a working visit in Djibouti from May 24-28. During the visit, the delegation was warmly welcomed by the Chairman of Djibouti Ports and Freezone (DPFZA), Mr. Abubaker Omar Hadi, and held discussions…