Ministry, local mining companies sign coal production agreements

Ministry, local mining companies sign coal production agreements

Ministry of Mines has signed coal production agreements with eight local mining companies with a total capital of 6 billion Birr. The agreement has been signed on Thursday among Takele Uma (Eng.), Minister of Mines and representative of each company. The six companies have been granted with the license because they have finalized the preparatory…

Gov’t urges diaspora to invest in Ethiopia, rehabilitate damaged infrastructures

Gov’t urges diaspora to invest in Ethiopia, rehabilitate damaged infrastructures

Government officials have urged the diaspora to invest in Ethiopia. Ethiopia Diaspora Investment Forum and exhibition officially launched on Tuesday at Skylight hotel with the presence of senior government officials. The forum has been intended to reveal the potential investment opportunities in Ethiopia. Lelisse Neme, Ethiopia Investment Commissioner said that from among 800 invited members…

Ethio Sugar plans to launch trial production in four years

Ethio Sugar plans to launch trial production in four years

Ethiopia Sugar Manufacturing Industry Share Company announced that it has a plan to launch a trial production after four years. The factory will also start producing and exporting sugar in five years. Bitew Alemu, CEO of Ethio Sugar Manufacturing Industry Share Company said in a press conference Tuesday at Sheraton Addis that once production launched…

NBE lifts transfer restrictions

NBE lifts transfer restrictions

The National Bank of Ethiopia (NBE) on Tuesday announced that it has removed the limits on bank transfers. The financial sector regulators restricted in January 2021, limiting account-to-account transfers to only five a week. The next month, they placed the same restriction on transfers via mobile and internet banking using Automatic Teller Machines (ATMs) or…

“We plan to create 100 thousand jobs in five years” An interview with Habtamu Tadesse, Founder and CEO of ArifPay, a fintech company

“We plan to create 100 thousand jobs in five years” An interview with Habtamu Tadesse, Founder and CEO of ArifPay, a fintech company

Habtamu is also a founder of ZayRide, an app-based taxi-hailing service. ArifPay is a mobile point of sale system which will allow ATM cardholders to make electronic transactions via their smartphones. The company intends to launch M-POS and gateway-related digital financial products. It aims to allow people to use their mobile phones for conducting financial…

Bunna Bank set aside prizes to mobilize foreign currency from Diaspora

Bunna Bank set aside prizes to mobilize foreign currency from Diaspora

Bunna Bank announced Saturday that it has set aside plane ticket prizes for 20 Ethiopian and Ethiopian descent Diaspora members who will exchange their foreign currency in branches of the Bank. The plane ticket prizes, which will be received by 20 best performer Diaspora members, will enable them to go and return to wherever they…