Nexara

Hibret Insurance SC. celebrated its 30th Anniversary in attendance of shareholders, prominent public figures, and representatives of financial institutions. On the occasion, Meseret Bezabih, CEO of Hibret Insurance, stated “Our 30th Anniversary is not just a celebration of the past but a reaffirmation of our promise to continue delivering value, ensuring financial security, and contributing to the …

Company vows to contribute to the growth of Ethiopia’s insurance industry Read More »

The Ministry of Trade and Regional Integration has reported a notable increase in foreign exchange earnings from Ethiopia’s cereal and oilseed exports, with over USD 156 million generated in just the first four months of the current fiscal year. In a statement, Minister of State for Trade and Regional Integration, Yasmin Wahbrebi highlighted that Ethiopia’s …

Ethiopia’s Foreign Earnings from Pulses and Oilseeds Surge Read More »

In a policy shift aimed at enhancing foreign currency flexibility for exporters, the National Bank of Ethiopia (NBE) announced that exporters would be allowed to retain 50 percent of the foreign currency they generate indefinitely. Under this new system, exporters can sell half of their foreign currency earnings immediately and hold the remaining half in …

The National Bank of Ethiopia Allows Exporters to Retain 50% of Foreign Currency Earnings Indefinitely Read More »

EthSwitch S.C. has reported a net profit of ETB 789,609,373. for the 2023/2024 financial year. The announcement was made on November 12, 2024, during EthSwitch’s 11th annual general meeting. Solomon Desta, Chairperson of EthSwitch, attributed the company’s success to its prudent expense management in a turbulent economic climate. In addition, EthSwitch recorded a surge in …

Ethiopia: EthSwitch Reports a Net Profit of Birr 789.6 Million Read More »

Ethiopia-Russia business forum would serve as a critical venue to uplift the economic cooperation into higher levels between the two countries, Foreign Affairs State Minister, Mesganu Arga. The business forum was underway in Addis Ababa under the theme: “Russia – Ethiopia: No Time to Wait,” with the goal of expanding economic cooperation and strengthening bilateral …

Ethio-Russia Business Forum Would Uplift Economic Cooperation, Says State Minister Mesganu Read More »

A high-level delegation from Jiangsu Province, China, led by Governor Xu Kunlin, arrived in Addis Ababa this morning, according to the Ministry of Foreign Affairs. Upon their arrival at Bole International Airport, they were greeted by State Minister of Foreign Affairs, Ambassador Birtukan Ayano, Director-General of Middle East, Asian and Pacific Affairs, Ambassador Negus Kebede …

Delegation from Jiangsu Province of China Arrives in Addis to Attend China-Africa Forum Read More »

EtSwitch, the National Switch owned by all banks operating in Ethiopia and the National Bank of Ethiopia, held its 11 annual shareholders meeting today. In his opening remarks at the meeting, Solomon Desta, Board Chairperson of EtSwith, stated that the company has been playing a crucial role in advancing the National Digital Payment Strategy, which …

EtSwitch says facilitated over 94.5 million interoperable ATM transactions during past FY Read More »

UK-based KEFI Gold and Copper PLC has announced a USD 30 million investment opportunity for Ethiopian investors as part of its USD 500 million Tulu Kapi Gold Mines project. The financing, involving international banks, contractors, and investors, has reached a milestone with USD 470 million conditionally secured, including an increased USD 240 million contribution from …

Ethiopia: KEFI Gold and Copper PLC Opens USD 30 Million Investment for Ethiopians Read More »

Ethiopian Electric Power (EEP) announced that the Aysha Wind Farm Project, a major renewable energy initiative with a 120 MW capacity, is now 82% complete. EEP Communication Director Moges Mekonnen revealed that construction was on schedule, with eight turbines generating 80 MW already operational and in the process of connecting to the national grid. “Efforts …

Ethiopia: Aysha Wind Farm Nears Completion Read More »

Industrial Parks Development Corporation (IPDC) has officially announced that the Dire Dawa Free Trade Zone is now fully operational. This marks a significant milestone for the project, which is designed to attract investment and boost economic activity. Investors in the process of obtaining licenses from the Ethiopian Investment Commission recently visited the zone to explore …

Ethiopia: Dire Dawa Free Trade Zone Now Fully Operational Read More »