Ethiopia Commodities Exchange (ECX) is undergoing a digital transformation with the launch of a new electronic trading system next year. While an official launch date remains undetermined, the software is being actively improved to be available in the 2024/25 fiscal year. Previously, customers could only trade electronically at six designated centers nationwide. The new system, …
The National Bank of Ethiopia is revamping its gold-buying scheme to combat a decline in official gold supplies. The bank announced significant price hikes for suppliers, hoping to stem the flow of gold into the black market. Under the new plan, effective June 17th, 2024, suppliers will receive a 72% premium above the global market …
National Bank Ups Gold Incentives to Fight Black Market Read More »
According to a report by the Office of the Federal Auditor General, the Ministry of Mines fell short of its revenue target for mining activities between 2018 and the first quarter of the current fiscal year (2023/24). The Ministry aimed to generate USD 4.2 billion but only managed to collect USD 1.2 billion, achieving a …
East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. …
Geda Special Economic Zone Receives Prospective Tenants Read More »
Heifer Ethiopia has launched this year’s AYuTe Ethiopia Challenge, which aims to identify innovative tech-based solutions to address the challenges faced by smallholder farmers in the country. Read More: https://shega.co/post/application-opens-for-local-agritech-competition-with-20000-prize/ Source: shegahq
Early works comprise some activities with the community and other stakeholders to ensure that everyone is fully informed and consulted and the site is prepared for the major works to commence, the company said in the statement it issued on June 17. “Our focus is now on completing the Early Works at Tulu Kapi so …
The United Nations Economic Commission for Africa (UNECA) kicked off a pivotal workshop focused on local currency financing and capital market development for central banks across the African continent. In the opening remarks, a senior UNECA official welcomed the distinguished guests and esteemed colleagues, emphasizing the critical role that strengthening financial architecture plays in driving …
Strengthening local currency financing and capital market development in Africa Read More »
In a significant development for the African insurance industry, Yared Mola, the CEO of Nyala Insurance S.C., has been appointed as the Vice President of the African Insurance Organization (AIO). The AIO, a non-governmental institution headquartered in Yaounde, Cameroon, was founded in 1972 with the primary objective of promoting the competitive and sustainable development of …
Nyala Insurance CEO appointed AIO Vice President Read More »
South Korea‘s ambassador to Ethiopia Jung Kang has reaffirmed his country’s commitment to further strengthen its development cooperation with Ethiopia. In an exclusive interview with ENA, the Ambassador said Ethiopia and South Korea have strong bilateral cooperation in various spheres. According to him, the historical cooperation of the two countries in politics, economy, and development …
S.Korean Ambassador Pledges to Expedite Implementation of MoUs Signed with Ethiopia Read More »
Ethiopia continues to supply electricity to Sudan despite a significant decrease in daily consumption, according to the Ethiopian Electricity Authority. Before the ongoing conflict in Sudan, the nation imported up to 200 megawatts of electricity per day from Ethiopia. However, this figure has recently dropped to 50 megawatts or less, the authority reported. Sudan has …
Ethiopia Maintains Power Supply to Sudan Despite Reduced Consumption Read More »