Nexara

 The total value of Russian companies’ contracts for the export of used vehicles from Moscow to BRICS countries and partners has exceeded 21 billion roubles (US$215 million), according to Moscow Mayor Sergey Sobianin. According to the mayor of the Russian capital, all exports to the BRICS+ countries grew almost threefold with Moscow’s support. The most …

Moscow triples vehicle exports to BRICS countries Read More »

Addressing a plenary session of the BRICS Business Forum in Moscow virtually, the Prime Minister has encouraged investors from BRICS countries to seize the opportunities available in Ethiopia, particularly in sectors such as manufacturing, agriculture, renewable energy, mining, ICT, and tourism. “These industries in Ethiopia hold enormous potential for growth and innovation, and by investing …

PM Abiy encourages investors from BRICS countries to seize opportunities in Ethiopia Read More »

 The Ethiopian Securities Exchange (ESX) has signed a landmark Memorandum of Understanding (MoU) with the Nairobi Securities Exchange (NSE) and iCapital Africa Institute today to expedite regional financial markets. This milestone Memorandum of Understanding intends to enhance financial markets in Ethiopia and the broader East African region. At the signing ceremony, ESX CEO Tilahun Esmael …

ESX Signs MoU with Nairobi Securities Exchange, iCapital Africa Institute for Regional Financial Markets Read More »

Ethiopia generated USD 521.98 million from the export of 115,851.77 tons of coffee, tea, and spices in the first quarter of the current fiscal year. This achievement exceeded Ethiopian Coffee and Tea Authority’s initial target of USD 427.10 million from 83,294.25 tons. Revenue increased by 46%, with an additional USD 165.06 million earned, and export …

Ethiopia Exceeds Coffee, Tea, and Spice Export Targets in First Quarter Read More »

The Shire Endaslassie branch of the Commercial Bank of Ethiopia reported the purchase of 13.4 quintals of gold from legal gold dealers over the past three months. The bank’s branch manager, Mr. Tekie Gidey, revealed that the purchases were made from traditional gold producers during July, August, and September. The National Bank of Ethiopia recently …

Ethiopia: Shire Endaslassie Commercial Bank Branch Purchases Over 13 Quintals of Gold in Three Months Read More »

Dashen Bank achieved a profit of Birr 6.4 billion in the past fiscal year, as reported during the 31st regular and 26th Iemergency meeting of shareholders held on October 15, 2024, at the Millennium Hall. In his opening speech, Dashen Bank’s Chairman of the Board, Mr. Dula Mekonen, mentioned that the bank’s deposit increased by Birr 30.9 …

Ethiopia: Dashen Bank Reports a Profit of Birr 6.4 Billion Read More »

Meta Platforms, in partnership with Ethio telecom, has announced a flagship initiative aimed at enhancing digital services in Ethiopia. This collaboration follows strategic discussions between Ethio telecom CEO Frehiwot Tamru and Meta’s Director of Business Development for the Middle East and Africa, Vikas Menon, along with senior Meta executives. The partnership seeks to improve customers’ …

Meta Platforms Partners with Ethio Telecom to Boost Digital Services in Ethiopia Read More »

The National Bank of Ethiopia (NBE) today introduced revised regulations on foreign exchange-related spreads and fees. In a press release, the NBE highlighted that it has been closely monitoring the foreign exchange market since the transition to a new regime on July 29, 2024. The new policy aims to address challenges identified during the initial …

Ethiopia: NBE Announces New Policy on Foreign Exchange Spreads and Fees Read More »

The Ethiopian Customs Commission (ECC) has announced a record revenue collection of Birr 88.1 billion for the first quarter of the fiscal year, surpassing its initial target of Birr 87.2 billion. This achievement marks an impressive 0.86% increase beyond the Commission’s goal. ECC Chief Commissioner Debele Kabeta, highlighted that the revenue exceeded last year’s first-quarter …

Ethiopia: Customs Commission Exceeds First Quarter Revenue Target Read More »

The China high level delegation team Lead by the Vice Chairman of China International Development Cooperation Agency (CIDCA) Zhao Fengtao has made fruitful discussion with Ethiopia’s Minister of Finance, Ahmed Shide. On the occasion, the Minister briefed on the ongoing macro-economic reform program measures taken by the Ethiopian government, main achievements during the last two …

CIDCA Highlights Priority Areas for Future Cooperation with Ethiopia  Read More »