Derba Cement to build second plant

Derba Cement to build second plant

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…

Ethio telecom launches 4G LTE service in 67 towns, upgrades network in 27 towns

Ethio telecom launches 4G LTE service in 67 towns, upgrades network in 27 towns

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, CNET Software Technologies launch integrated digital service charge system

Ethio Telecom, CNET Software Technologies launch integrated digital service charge system

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…

U.S. Embassy launches Academy for Women Entrepreneurs 2022

U.S. Embassy launches Academy for Women Entrepreneurs 2022

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…

ATEX, a boost for intra-Africa trade

ATEX, a boost for intra-Africa trade

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 to transfer over 310 homes to buyers

Hosea Real Estate to transfer over 310 homes to buyers

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…

Government retenders Ethio Telecom’s 40% stake

Government retenders Ethio Telecom’s 40% stake

-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…

Ethiopia’s economy will expand by 7.5% : PM Abiy

Ethiopia’s economy will expand by 7.5% : PM Abiy

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…

Local banks, experts wary of foreign banks entry

Local banks, experts wary of foreign banks entry

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….