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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…

Derba Cement attacked by unidentified men
Spread the NewsUnidentified men have attacked Derba Cement Factory PLC. The attack was perpetrated by a group of men on December 19, 2021. They have destroyed and burned down the most expensive machineries. As a result the factory has ceased its production, sources told Origins Media. In addition to the cement it supplies to the…

Banks told not to allocate over 50% of foreign currency for non-priority items
Spread the NewsThe National Bank of Ethiopia (NBE) has unveiled a new directive, which demands for commercial banks to allocate not more than 50% of their foreign currency for items not included in the NBEs new priority list. In addition to this, a minimum of 50% of forex resources is also required to be distributed…

Phibela plans to supply 7 mln liters of edible oil for Easter, Eid-Al-Fitr
Spread the NewsPhibela Edible Oil Factory announced that it is preparing to supply 7 million liters of oil for the upcoming Easter and Eid-Al-Fitr holidays. Setegn Engidaw, Communication Director of Belayneh Kindie Group, was quoted by Walta Media and Communication Corporate as saying that, “Phibela is in preparatory stages to supply 10 and 15 liters…

Ensuring global sanitation cost up to $11 bln, reveals report
Spread the NewsA new report by WHO and UNICEF, released Friday on Global Handwashing Day, reveals that giving everyone in the world’s poorest countries access to hand washing with soap and water, would cost around $11 billion. That would transform the life-chances of people who are currently unable to simply wash their hands at home….