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Amhara Bank has reported a pre-tax profit of Birr 377.2 million for the recently concluded fiscal year. Acting CEO, Chanyalew Demse, announced that the bank’s total deposits have reached Birr 25.1 billion, with Birr 20.3 billion disbursed as loans to various sectors, prioritizing financial access and inclusion. Amhara Bank has expanded its loan services to …

Ethiopia: Amhara Bank Reports Birr 377.2 Million Pre-Tax Profit Read More »

The Embassy of India in Addis Ababa in partnership with the Ministry of Agriculture of Ethiopia unveiled a report on the market study on Export Opportunities for Oil Seeds, Pulses, Cotton, Gemstones, and Coffee from Ethiopia to India. The report on the market study aims to shed light on the opportunities and mechanisms to address …

Ethiopia, India explore agricultural export opportunities, unveil joint market study report Read More »

The National Bank of Ethiopia’s foreign exchange (FX) administration reform, implemented as part of the broader macroeconomic reforms, has significantly catalyzed the growth of financial institutions, Bank officials remarked. Banking industry officials asserted that the government’s macroeconomic reforms will significantly contribute to the nation’s economic growth. They emphasized that the National Bank’s adoption of a …

Banks in Ethiopia laud FX reform as key driver for financial sector growth Read More »

In its strong aspiration to go beyond basic connectivity services, Ethio Telecom launched new international digital money transfer services in collaboration with VISA Company, a world leader in digital payment technology, today. Ethio Telecom CEO, Ms. Frehiwot Tamru, and VISA Company Country Manager Yared Tadele signed the deal. The signing of this strategic partnership agreement …

Ethio Telecom rolls out Ethiopia’s first-ever wallet-based Virtual Visa Card  Read More »

Ethiopia has been offering extensive fiscal and non-fiscal incentives for investments in renewable energy as it has identified the energy sector among the key priorities for investment, Chief Commissioner of Ethiopian Investment Commission Ms. Hanna Arayaselassie said. The commission has held a half-day stakeholders meeting which focused on attracting finance and investment for the energy …

Gov’t offering extensive fiscal, and non-fiscal incentives for renewable energy Read More »

Ethiopia has signed 300MW Aysha-1 wind project Power Purchase and implementation agreements with United Arab Emirates (UAE)’s AMEA Power. The Aysha wind energy project is poised to become the largest wind energy project in the Horn of Africa after investing 620 million US dollars, it was learned. Minister of Finance Amhed Shide and other senior …

Ethiopia Signs 300MW Wind Project Power Deal with UAE’s AMEA Power Read More »

Tamesol Communication and LYAN Business Group, in collaboration with Acentic Solutions, are set to organize this year’s New Year’s exhibition and bazaar. During a press conference held today at the Hyatt Regency Hotel, it was announced that numerous traders will participate in the expo to showcase their products and services. The event is dubbed “CBE …

Ethiopia: Tamesol Communication and LYAN Business Group to Host New Year Exhibition and Bazaar with Acentic Solutions Read More »

Equb Financial Technologies has signed a partnership agreement with Awash Bank S.C. to promote digital saving services in Ethiopia. Equb Financial Technologies is an Ethiopian startup that has digitized the country’s age-long traditional saving method (Equb) into a digital saving system. The signing agreement signed today aims to expand the startup’s digital presence in the …

Equb Financial Technologies ink partnership with Awash Bank S.C. to promote digital saving in Ethiopia Read More »

Ethiopian Airlines, the leading aviation group in Africa, inaugurated a Silver Lounge, an exclusive facility dedicated to ShebaMiles Silver members. Strategically positioned within the Addis Ababa Bole International Airport, the Silver Lounge offers a serene and engaging environment where passengers can unwind and enjoy entertainment amenities, the airline announced. Source: FBC

 Ethiopia’s Permanent Representative to the UN Offices and other International Organizations, Ambassador Tsegab Kebebew, met with Dr. David Reddy, the Director General of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) on August 15, 2024, in Geneva, Switzerland. During their meeting, they discussed potential investment opportunities for local manufacturing of medicines in Ethiopia. Following …

Ethiopia, IFPMA discuss local pharmaceutical manufacturing opportunities Read More »