Ethiopia has lost its 19% share at Berbera Port in Somaliland due to its failure to pay financial contribution for the construction of the port.
Paying contribution is among the precondition set by Somaliland’s government.
Ministry of Finance Development of Republic of Somaliland announced that the Ethiopian government has been stripped of its ownership for failing to meet its ownership requirements on time.
Spread the NewsThe National Bank of Ethiopia (CBE) has extended the deadline for banks customers to update their personal information by two months. Customers updated their information in the last six months. However, there are customers who failed to do so due to different reasons. The fresh deadline is intended to facilitate opportunities for these…
Spread the NewsMinistry of Mines and the United States Company Netherland, Sewell & Associates, Inc. (NSAI) signed an agreement on Tuesday, which enables the US firm to conduct economic surveys on potentials of Ethiopia’s oil and gas resources. The agreement was signed between Takele Uma, Minister of Mines and representative of NSAI at the headquarters…
Spread the NewsAfrican Heads of State, ministers, leaders of the private sector, development actors and academics will be gathering in Cabo Verde from 2 to 4 December for the African Economic Conference. This year edition of the conference is focused on “Financing Africa’s post-Covid-19 development.” Developing new ways of financing the post-Covid-19 recovery and accelerating…
Spread the News The Ethiopian Bulk Fuel Transport Owners’ Association announced Thursday that it will implement a strike in ten days if problems would not be resolved by the government. The number of trucks which transport fuel from Djibouti port has dwindled to 2500 from 3500 that showed a 20% decline. The Association held its…
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…
Spread the NewsAkufada Microfinance Share Institution Company is set to launch its operations on Saturday, October 22 in Debre Birhan city, where the headquarters located. Officials of the institution held a presser in Addis Abeba at Ras Amba Hotel. “We’ll start operations in Debre Birhan and we’ve a plan to expand our branches to 50…
