Nexara

The Documents Authentication and Registration Service (DARS) announced that it processed 443,147 cases and served 719,073 users from July to December 23, 2024, generating Birr 1.25 billion in revenue. DARS’ Public Relations and Communications Executive Ato Alemeshet Meshesha highlighted the institution’s efforts to ensure documents comply with legal and ethical standards. He emphasized that the …

Documents Authentication and Registration Service Processes 443,147 Cases, Collects Birr 1.25 Billion Read More »

The Commercial Bank of Ethiopia (CBE) revealed that its total assets reached Birr 1.9 trillion. The bank’s President, Abe Sano, attributed this achievement to the macroeconomic reforms implemented across the country, which have shifted CBE from a state of existential crisis to a trajectory of robust growth. Abe Sano recalled the challenges the bank faced …

Commercial Bank of Ethiopia’s Total Assets Reach Birr 1.9 Trillion Amid Reforms Read More »

Ethiopia’s Livestock Development Institute has announced that the country generated USD 43 million from the export of animal products over the past five months. The revenue marks a 60% increase compared to the same period last year, highlighting the growing significance of the sector in the country’s foreign exchange earnings. During this period, Ethiopia exported …

Ethiopia Earns USD 43 Million from Animal Product Exports in Five Months Read More »

In the upcoming fiscal year, the National Bank of Ethiopia (NBE) is expected to revise its policy rate, commonly called the National Bank Rate (NBR). The current rate, set at 15 percent, was established at the start of the fiscal year and is part of the NBE’s shift to an interest-rate-based monetary policy framework. This …

National Bank of Ethiopia Set to Revise Policy Rate Early in the New Year Read More »

The Ethiopian Investment Commission (EIC) held a consultative workshop meeting with the stakeholders on the draft of the Special Economic Zone (SEZ) Directive today. Opening the consultative workshop, the EIC Chief Commissioner, Mr. Zeleke Temesgen, said that the government of Ethiopia has undertaken comprehensive reforms in the economic sector including in the SEZs, trade, and …

EIC, stakeholders discuss the Special Economic Zone draft directive Read More »

Wonkiso, a company from the Republic of Korea operating under Seoul Pharmaceutical Limited, has expressed its desire to engage in the manufacturing of vaccines in Ethiopia. The company’s desire to enter Ethiopia’s pharmaceutical market was discussed during a meeting between the Ambassador of Ethiopia to the Republic of Korea, Dessie Dalkie, and the Head of …

Korea’s Wonkiso expresses desire to engage vaccines manufacturing in Ethiopia Read More »

The total assets of the Commercial Bank of Ethiopia (CBE) have reached 1.9 trillion birr, the bank’s president Mr. Abe Sano has disclosed. Mr. Abe Sano mentioned that in the past, the bank had been lending billions of birr at low interest rates for the construction of large-scale projects and that the bank was facing …

CBE records 1.9 trillion birr in assets Read More »

Ethio Telecom has officially launched 4G LTE mobile services in 67 cities throughout the country. The rollout of these advanced services comes in response to increasing customer demand, the company announced. Ethio Telecom also expressed its commitment to further expand telecommunications networks and digital infrastructure in additional areas to better serve its customers’ needs. Source: …

Ethio Telecom introduces 4G mobile services in 67 cities Nationwide Read More »

Ethiopian Electric Power (EEP) announced that its dams were fully replenished after the recent rainy season, ensuring sufficient water for power generation to meet this year’s ambitious targets. According to Tiruwork Shiferaw, EEP’s Planning Bureau and Power Plant Operation Sector Manager, the dams have accumulated enough water to support full-capacity electricity generation. The company is …

Ethiopia’s Hydropower Dams at Full Capacity Following Rainy Season, EEP Read More »

Ethiopia’s Ministry of Revenues (MoR) announced that Birr 380 billion was collected in the first five months of the current fiscal year. Revenue Minister Aynalem Nigussie attributed this achievement to the government’s reforms in tax policy and administration, which aimed to maximize domestic income to support Ethiopia’s development plans. “Enhancing domestic revenue is critical for …

Ethiopia: Ministry of Revenues Collects Birr 380 Billion in Five Months Read More »