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New multimillion CBE headquarters to be inaugurated next week
Spread the NewsThe newly built headquarters of the Commercial Bank of Ethiopia (CBE) is to be inaugurated next week. The construction of the new HQ has been going on in the last six years. Built at a cost of over a quarter of a billion dollars, the country’s tallest building is completed. Sprawled on 150,000…
Lemi Cement Factory construction to be completed in 18 months
Spread the NewsTakele Uma (Engineer), Minister of Mines said Friday that construction of Lemi Cement Industrial Complex, a new private industrial park, is going to be completed in 18 months. The industrial complex is located in North Shoa Zone of Amhara region. When starts operation, the factory will have a capacity of producing 5 million…
IFC signals interest to provide support Ethiopia in priority sectors
Spread the News The International Finance Corporation (IFC) has signaled its interest to partner with the Ethiopian government in investment projects of priority sectors. Ethiopian Investment Commission (EIC) management discussed with IFC Ethiopia Country director Cheick-Oumar Sylla at the headquarters of the EIC. EIC and IFC leaders agreed to strengthen ongoing collaborative works in the…
Undisclosed buyer acquires Meta Abo Brewery
Spread the NewsDiageo PLC, the world’s leading seller of premium liquors, has sold Meta Abo Brewery to undisclosed buyer. The acquisition of Meta Abo brewery will be finalized in a month, according to sources. But the buyer and its value of acquisition is not disclosed so far. A decision to sell the brewery in a…
ID Ethiopia, Safaricom PLC agree to work on national ID program
Spread the NewsID Ethiopia has signed a Memorandum of Understanding (MoU) with Safaricom Telecommunications Ethiopia PLC to partner in the digitalization of the National ID program. The MoU discusses the setup of joint pilots for registration and eKYC integration. eKYC process includes ID card verification, face verification, document verification such as utility bills as proof…
Absence of insurance dev’t policy poses dilemma
Spread the NewsAssociation of Ethiopian Insurers (AEI) said that the absence of insurance development policy, which should have to be prepared by the government, poses a challenge to the growth of the industry. Yared Molla, President of AEI said during the fifth edition of East Africa Finance Summit on Wednesday that an absence of such…