By Kaleyesus Bekele Derba Cement is going to build second cement manufacturing plant at a cost of 300 million dollars. The company has selected the Chinese construction company, Sinoma International Engineering to build the new line. CEO of Derba Cemenet Haile Assegidie and Han Xuefeng, Regional Marketing Director, Sinoma International Engineering, signed the agreement on…
As part of phase-III 4G LTE service network expansion strategic plan, Ethio telecom launched 4G LTE services in 67 towns and upgraded 4G LTE network expansions in 27 towns. The 4G LTE service, which started in Addis Abeba two years ago, is now available in 181 towns and cities across Ethiopia. “We are also committed…
Ethio Telecom and CNET software technologies signed an agreement to implement telebirr and CNET integrated payment system that would enable the CNET Software Technologies partners’ to get their customers settle service charges and transactions using telebirr, a mobile money platform. Specifically, the implementation of telebirr & CNET integrated payment system will play crucial roles for…
In observance of International Women’s Entrepreneurship Day, Deputy Chief of Mission (DCM) Fiona Evans, launched a year-long nationwide project for the Academy for Women Entrepreneurs (AWE) 2022 in the U.S. Embassy, Addis Abeba. In her remarks, DCM Evans highlighted the importance of partnership between the United States and Ethiopia. “Empowering women entrepreneurs benefits not only…
African countries should use the innovative Africa Exchange Trade Platform (ATEX) and boost digital trade in critical commodities under the Africa Continental Free Trade Area (AfCFTA). ATEX is a digital business-to-business (B2B) and business-to-government (B2G) exchange platform developed by ECA and the African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission and the…
Hosea Real Estate PLC announced Tuesday that it will transfer over 310 homes to homebuyers on Saturday, November 19, 2022. The luxury villas including apartments constructed at Ayat 49 area, located at the recently established Lemi-Kura Sub City. The new site dubbed “Yerer Homes Village” is named after the famous mountain. “Construction of the homes…
-Invites companies to present expression of interest for second license The Federal Government of Ethiopia today floated a tender that would enable it to partially privatize the state owned Ethio Telecom. In a press conference held today officials of the Ministry of Finance disclosed that international firms can submit their proposals for the acquisition of…
Prime 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 pressure and…
A modern mining geochemistry laboratory is going to be built in Ethiopia. The Ministry of Mines signed an agreement with SGS, a renowned verification, testing, and Certification Company, for the construction of the laboratory which costs $50 million.
By Yared Nigussie Foreign banks entry to Ethiopia began during his imperial majesty Hailesilassie I regime. During the Italian invasion of Ethiopia in 1935, the Italians established branches of their main Banks namely Banca d’Italia, Banco di Roma, Banco di Napoli and Banca Nazionale del lavoro and started operation in the main towns of Ethiopia….
