The Addis Ababa Peace and Security Administration Bureau has implemented a complete ban on sports betting and gambling establishments within the city limits. According to Deputy Head Mideksa Kebede, the decision comes after the closure of 4,118 betting houses during the 2023/24 fiscal year. The city administration has cited the detrimental impact of gambling on …
Ethiopia: Addis Ababa Bans Sports Betting Houses Read More »
SantimPay Financial Solutions S.C. is set to expand its contactless payment network in Ethiopia with plans to deploy over 10,000 Point of Sale (POS) machines within the coming Ethiopian year (2017). The company, which specializes in modernizing payment systems, aims to accelerate the country’s digital transformation. According to CEO Tinsae Dessalen, SantimPay has experienced rapid growth …
Ethiopia: SantimPay Financial Solutions to Roll Out 10,000 POS Machines Read More »
The Ethiopian government announced plans to commence the construction of a railway link between the Awash fuel depot and Djibouti’s Horizon Terminal in the coming Ethiopian year (2017). This project is expected to enhance the oil-loading services provided by the terminal to Ethiopia. The decision to proceed with the project was made following discussions between Ethiopian …
The Ministry of Revenues reported that it collected over Birr 512 billion birr was collected during the concluded fiscal year, falling short of the initial target of Birr 529 billion. The Ministry is currently engaging with taxpayers and stakeholders to discuss tax law compliance and the execution of the 2023/24 fiscal year plan. It attributed …
Ethiopia: Ministry Collects Birr 512 Billion in Revenue Read More »
Siket Bank has reported a gross profit of Birr 1.6 billion. This represents a substantial 49% increase compared to the previous year. CEO Damtew Alemayehu unveiled the bank’s financial results during a meeting with staff and board members on Saturday. He attributed the achievement to a combination of factors, including a 30% expansion of total …
Ethiopia: Siket Bank Registers Growth in Fiscal Year 2023/2024 Read More »
Ethiopia has taken a step towards expanding its horticultural exports by signing a Memorandum of Understanding (MoU) with the Common Market for Eastern and Southern Africa (COMESA). The agreement aims to enhance cooperation in the production and export of avocados, onions, and potatoes. The announcement was made during the COMESA Horticulture Forum held in Addis …
Ethiopia and COMESA Join Forces to Boost Horticultural Exports Read More »
Ethiopia raked in over USD 180.45 million from exporting 40,532 tons of coffee in July this year, marking a substantial increase of 132% in volume and 110% in revenue compared to the same period the previous year. Ethiopian Coffee and Tea Authority’s Director General, Dr. Adugna Debala, expressed optimism about the industry’s potential, suggesting that …
Iran’s ambassador to Ethiopia, Ali Akbar, said that efforts will be made for Iranian investors to invest in industrial parks in the fields of agro-processing and vehicle manufacturing and assembly. Industrial Parks Development Corporation (IPDC) CEO, Fisseha Yitagesu received the ambassador at his office and had a discussion. During the discussion, the two officials exchanged …
Iran Desirous to Encourage Its Investors to Invest in Ethiopia’s Industrial Parks Read More »
Guangzhou Automobile Corporation (GAC), a Chinese state-controlled vehicle manufacturing company, together with Huajian Group, today declared that it is set to start assembling electric vehicles in Ethiopia soon. GAC’s decision was revealed during a discussion between Ethiopia’s Minister of Transport and Logistics Alemu Sime and a Chinese delegation, consisting of Huajian Group and GAC senior …
Guangzhou Automobile Corporation to start assembling EVs in Ethiopia soon Read More »
Ethio telecom disclosed that it is carrying out activities to expand mobile telephone networks across all rural parts of Ethiopia by utilizing renewable energy as alternative mechanism. Ethio-telecom has today inaugurated rural mobile telephone network projects in Somali and Central Ethiopia regions. Network Infrastructure Deputy Chief Officer, Alem Haile-Mariam said the Rural Mobile Network Solution …
Ethio telecom working to expand mobile telephone network in all rural areas of country Read More »