Nexara

Ethiopia’s coffee export sector continues to deliver results, with the Ethiopian Coffee and Tea Authority announcing that the country earned over USD 674 million from coffee exports in the first four months of the current fiscal year. Sahlemariam Gebremedihin, Communications Affairs Director at the Authority, highlighted that 150,346 tons of coffee were exported to international …

Ethiopia Earns USD 674 Million from Coffee Exports in Four Months Read More »

ZamZam Bank, Ethiopia’s premier fully interest-free banking institution, has entered into a strategic partnership with Santim Pay. The agreement, signed today by officials from both organizations, aims to provide seamless and accessible payment solutions to customers across various sectors. Under this collaboration, ZamZam Bank customers will now be able to make payments for goods and …

Ethiopia: ZamZam Bank Partners with Santim Pay Read More »

Ethiopian Investment Holdings (EIH) has expanded its portfolio by incorporating eight key government institutions, further enhancing its role in managing and transforming state-owned enterprises. The newly added entities include Ethio Post, Ethio Engineering Group, Ethiopian Industrial Inputs Development Enterprise, Ethiopian Railway Corporation, Industrial Parks Development Corporation, Development Bank of Ethiopia, Ethiopian Electric Power, Animal Health …

Ethiopian Investment Holdings Expands Portfolio with Eight Major Institutions Read More »

An Ethiopian delegation led by Ambassador Mesganu Arga, State Minister of Foreign Affairs, held discussions in Riyadh, Saudi Arabia, with Mr. Hassan Bin Mujab Al-Huwaizi, President of the Federation of Saudi Chambers of Commerce, and Mr. Mohammad Alabduljabar, Acting Governor of the General Authority of Foreign Trade. The two sides discussed strengthening trade and investment …

FSC says ready to encourage Saudi companies to tap investment opportunities in Ethiopia Read More »

The Djibouti International Free Trade Zone (DIFTZ) has commended Ethiopia’s green mobility effort to foster sustainable development. Recall the Ministry of Transport and Logistics staged the Green Mobility Exhibition in Addis Ababa from November 22-30, 2024, to showcase electric vehicle solutions and support sustainable transportation. In an exclusive interview with ENA, Director of Marketing Development …

DIFTZ Applauds Ethiopia’s Green Mobility, Seeks Deeper Partnership Read More »

State Minister for Foreign Affairs Ambassador Mesganu Arga held discussions with Ahmed bin Saleh bin Ayadah Al-Hamshi, Saudi Arabia’s Deputy Minister of Environment, Water, and Agriculture. The talks focused on increasing Saudi Arabia’s government and private sector involvement in investment and trade in Ethiopia, particularly in agricultural production.Moreover, the two sides deliberated on finalizing proposed …

Ethiopia, Saudi Discuss Ways to Enhancing Agricultural Investment & Trade Read More »

The Ethiopian Investment Commission has disclosed today that some 10 industrial parks of the country have been promoted into the Special Economic Zones (SEZs). The East African nation has embarked on upgrading its industrial parks to special economic zones to attract Foreign Direct Investment (FDI), create jobs, and enhance trade and productivity. To facilitate the …

Ethiopia Upgrades 10 Industrial Parks to Special Economic Zones for Attracting More FDI Read More »

The International Monetary Fund (IMF) has announced a staff-level agreement with Ethiopia, marking progress in the second review of the country’s four-year Extended Credit Facility (ECF) arrangement. Pending formal approval, Ethiopia will gain access to an additional USD 251 million, aimed at stabilizing the economy and fostering sustainable growth. Discussions, led by IMF representative Álvaro …

IMF and Ethiopia Reach Milestone in Economic Reform Program Read More »

Sidama Bank recorded a net profit of Birr 71.6 million for the previous fiscal year, surpassing its initial profit target by 58 percent. The announcement was made during the bank’s third regular and third emergency general meeting of shareholders, held in Hawassa. Ato Abraham Marshallo, Chairman of the Bank’s Board of Directors, presented the bank’s …

Ethiopia: Sidama Bank Records a Net Profit of Birr 71.6 Million Read More »

In a move to boost the operational capabilities of Ethiopia’s Dire Dawa Free Trade Zone, a formal cooperation agreement has been signed with Azerbaijan’s Alat Free Trade Zone. The deal was reached during a recent visit by a high-level delegation of Ethiopian government officials to the Alat Free Economic Zone in Azerbaijan. This collaboration marks …

Ethiopia and Azerbaijan Forge Partnership to Strengthen Free Trade Zones Read More »