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ECA’s Economic Report on Africa addresses continent’s vulnerability during Covid-19
Spread the NewsThe disruptions caused by the Covid-19 pandemic pushed an estimated 55 million Africans into extreme poverty in 2020 and reversed more than two decades of progress in poverty reduction on the continent. This is according to the Economic Report on Africa 2021(ERA2021) launched Sunday on the margins of the Economic Commission for Africa’s…

United Capital Group keen to invest in Ethiopia’s natural gas
Spread the NewsUnited Capital Group has expressed its interest to invest in Ethiopia’s natural gas exploration and development sector. Takele Uma, Minister of Mines announced that discussion has been held with United Capital Group delegates led by Prince Abbas bin Ali bin Nayef of Jordan pertaining to investments in natural gas on Tuesday at the…

Ethiopia’s economy will expand by 7.5% : PM Abiy
Spread the NewsPrime Minister Abiy Ahmed (PhD) said Tuesday that Ethiopia’s economic growth is expected to expand by 7.5% in the 2022/23 fiscal year. He responded to Members of Parliament (MPs) that the projection shows 1.1% point improvement in economic growth rate registered the previous year. Prime Minister Abiy said: “Ethiopia’s economy held up under…

Mamo Miheretu replaces Dr. Yinager Dessie as central bank’s governor
Spread the NewsBy Kaleyesus BekelePrime Minister Dr. Abiy Ahmed appointed Mamo Miheretu as governor of the National Bank ofEthiopia (NBE) replacing Dr. Yinager Dessie.Mamo Miheretu , the architect of the national home grown economic reform program, was thePrime Minister’s adviser on policy matters. He is also CEO of the Ethiopian Investment Holdings, the state owned…

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…

Safaricom ranked “Most Valuable Firm” in East Africa by market cap
Spread the NewsAccording to a report— a compilation of the most valuable brands by market capitalization – by analysts at AfricanFinancials Group, Safaricom is the most valuable brand in East Africa and Mauritius, with a market capitalization of $15.4 billion. Safaricom’s shares have soared following its announcement of securing a telecommunications license to operate in…