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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…

Inflation keeps soaring
Spread the NewsThe latest report from the Central Statistical Authority (CSA) disclosed that the overall inflation rate in September 2021 has reached 34.8 percent. Last month’s rate registered a 4 percent surge from the August 2021 inflation rate, which was stood at 30.4 percent. Food inflation, the major contributing factor for the ballooning inflation also…

Finance expert urges merger of local banks to compete with foreign counterparts
Spread the NewsBy Yared Nigussie Merger of local banks is very crucial to compete with the foreign banks, which are expected to join the Ethiopian market following the financial liberalization decision by the government, a renowned financial expert urged. The total capital of Ethiopian private banks was not more than $1.2 billion in 2021/22 fiscal…

PM Abiy inaugurates Free Trade Zone in Dire Dawa
Spread the NewsPrime Minister Abiy Ahmed (PhD) has inaugurated Dire Dawa Free Trade Zone on Sunday. Dire Dawa is selected to host the free trade zone due to its proximity to ports, market potential, huge cargo gravity and suitability for multimodal transport and logistics operation. Increasing import substitution and export revenue, job creation, and skill…

Dashen Bank profits 2.4 bln Birr before tax
Spread the NewsDashen Bank, among the most profitable banks in Ethiopia, has reported an annual profit of 2.4 billion Birr before tax during the financial year concluded on July 2021. Dashen mobilized 21.1 billion Birr in deposits, and its total deposit has reached 74.6 billion Birr, which registered 39.4 percent increase from last year’s performance,…

Digaf Microcredit Providers signs MoU with Ministry of Labor, Skills
Spread the NewsDigaf Microcredit Providers, a technology-driven micro-finance institute, has signed a Memorandum of Understanding (MoU) with the Ethiopian Ministry of Labor and Skills (MoLS). The partnership will allow MoLS and Digaf to facilitate access to affordable digital loan products to low- and medium-income individuals with the aim of enhancing financial capacity. This announcement of…