News

Chemical Industry Corporation disclosed that it has secured 5 billion Birr in revenue from its industrial chemical input products over the past eleven months. Given the government’s priority, Ethiopia has been becoming an attractive destination for chemical trade. In this regard, the country’s chemical industry is diverse and demands chemicals for food, beverage, and textiles. …

Ethiopia’s Chemical Industry Corporation Obtains 5 Billion Birr Revenue Read More »

The National Animal Health Institute has announced plans to construct a new laboratory to increase its vaccine production capacity to one billion doses. The institute celebrated its 60th anniversary on June 29. Once the new laboratory is operational, it will triple the current production volume to one billion doses. A feasibility study and an international …

Ethiopia: Animal Health Institute Announces Expansion Plans Read More »

Commercial Bank of Ethiopia was able to recover 99.27% or 795.5 million ETB out of the 801.4 million ETB that had been improperly withdrawn due to a problem related to the system reform work. The remaining 0.73% or 5.8 million ETB is expected to be repaid in a short period, and the Bank’s social media …

CBE Removed the Personal Information of Customers Read More »

A delegation led by the Executive Director for the Institute of Foreign Affairs (IFA) Jafar Bedru participated in a high-level international conference in Shanghai, China from 27-28 June 2024. The conference titled “Building Global Development Transition Partnership in Africa: The Roles of MDBs and China” was hosted by the Shanghai Institute for International Studies (SIIS) …

Ethiopia is Chinese Gateway to Africa, IFA Executive Director Says Read More »

Habesha Cement S.C. has marked a milestone in its history with a remarkable turnaround in its operation in 2023. The company recorded its first-ever profit before tax of 1.03 billion Br, an astonishing contrast to the 1.26 billion Br losses posted the previous. Gross profit also improved drastically, reaching 2.25 billion Br last year, up …

Habesha Cement Makes Astonishing Rebound from Ruin Read More »

In an attempt to capitalize on the enormous potential benefits of trade on the continent, Ethiopia is now creating its National African Continental Free Trade Area (AfCFTA) Implementation Strategy. The AfCFTA, adopted in 2018, represents a historic effort to unite 55 African Union member states with a combined GDP of nearly 3 trillion USD. This …

Ethiopia Developing African Continental Free Trade Area Implementation Strategy Read More »

The draft proclamation establishing the National Bank of Ethiopia (NBE) has reinstated the direct advance limit that the federal government can take from the bank. It has also set a time limit for the executives and board members serving in the central bank. The proposed bill would also grant the NBE sole responsibility for overseeing …

Central Bank’s powers reinforced in the draft reform bill, including sole authority over franco-valuta imports Read More »

Ethiopia is becoming a key destination for the development of French companies on the African continent, Chairman of the French Ethiopian Chamber of Commerce and Industry — a French business support network, Poujade said. Addressing the event celebrating the induction of the former French Business Association in Ethiopia (CAFE) into the esteemed CCI France International …

Ethiopia Becoming Key Destination for French Companies in Africa: French Ethiopian Chamber Chair Read More »

Ethiopia and South Sudan are set to build a 220 km road connecting the two countries, following a 738 million USD financial agreement signed in May 2023. South Sudan’s Transitional National Legislative Assembly (TNLA) ratified the Ethiopia-South Sudan financial agreement to build a cross-border highway on June 25. The project aims to enhance connectivity and …

Ethiopia, South Sudan to Build 220 km Cross-border Highway Read More »

Livestock Development Institute of Ethiopia saved Birr 1.5 billion in import costs over the past 11 months by producing artificial insemination (AI) locally. This year, the Institute achieved its target of producing 2.2 million doses of AI products. The Institute’s focus extends beyond AI. It identifies and registers high-yield dairy cows to enhance milk production. …

Ethiopia’s Livestock Industry Produces 2.2 Million Doses of AI Read More »