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France provides €5 mln for restoration of Lalibela
Spread the NewsThe government of France has grated Ethiopia 5 million Euros for the renovation project of the rock hewn churches of Lalibela. Lalibela is United Nations Scientific, Educational, Scientific and Cultural Organization (UNESCO) inscribed world heritage site in Ethiopia. The grant agreement was signed on Thursday, October 20, 2022 between Semereta Sewasew, State Minister…

KEFI Gold, Copper ready for progress projects in Ethiopia, Saudi
Spread the NewsKEFI Gold and Copper PLC said in a statement that it has ‘reaffirmed plans’ with the Ethiopian authorities for the start of work on its Tulu Kapi gold mine in October. Tulu Kapi’s first gold pour should coincide with the start of production from KEFI’s second major project – Jibal Qutman, in Saudi…

Kacha receives first private Mobile Money License in Ethiopia
Spread the NewsThe National Bank of Ethiopia (NBE) has granted Kacha Digital Financial Services S.C the first private mobile money license. Kacha was established by 13 Ethiopian investors with a subscribed capital of 200 million Birr. In a statement Kacha said the issuance of the license distinctly marks the beginning of a new era for…

Nib International Bank contributes 3 mln Birr for Children’s Heart Fund
Spread the NewsNib International Bank (NIB) has contributed 3 million Birr for The Children’s Heart Fund of Ethiopia. NIB has been making contribution to the Fund for over 14 years since its construction, according to Hiruy Ali, CEO of The Children’s Heart Fund of Ethiopia. “NIB’s contribution will be utilized to purchase echocardiogram (echo), which…

African airlines to post a loss of 638 million USD in 2022
Spread the NewsThe International Air Transport Association (IATA) projected that African airlines will post a net loss of 638 million USD in 2022.This was disclosed at the annual IATA Global Media Day held in Geneva,Switzerland this week. According to the association, passenger demand growth of 27.4 percent is expected to outpace capacity growth of 21.9…

Gov’t invests 12.8 bln Birr to subsidize fuel
Spread the NewsThe government announced that it has invested 12.8 billion Birr in April 2022 to subsidize fuel. The government spent 24 billion Birr on subsidy of fuel in the past two years. Meanwhile, Ministry of Trade and Regional Integration (MoTRI) revealed a decision to hike fuel prices by 16 percent starting from Sunday. MoTRI…