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MadeInEthiopia Movement helped the industry sector increase its contribution to the overall GDP of the country following the measures taken to resolve the bottlenecks in the sector, Minister of Industry Melaku Alebel remarked. Prime Minister Abiy Ahmed has officially inaugurated ‘MadeInEthiopia Expo at the Millennium Hall in Addis Ababa today. ‘Made In Ethiopia’ is a …

Made-In-Ethiopia Movement Contributing to Increase GDP    Read More »

The Ministry of Trade and Regional Integration announced an update on fuel prices effective May 9, 2024. While the retail prices of white diesel, kerosene, jet fuel, light black diesel, and heavy black diesel will remain unchanged, the price of gasoline will see a minor increase due to recent fluctuations in the global market. These …

Gasoline Price Up, Other Fuel Prices Remain Stable Read More »

The Ethiopian Investment Commission (EIC) announced a policy shift allowing companies in industrial parks to sell half their production domestically. This aims to incentivize investment, stabilize market prices, and boost production. Zeleke Temesgen, EIC Deputy Commissioner, highlighted that the move aligned with the recent Special Economic Zone Proclamation, transforming industrial parks into zones and impacting …

Ethiopia Opens Domestic Market Doors for Industrial Park Firms Read More »

Governor Mamo Mehretu of the National Bank of Ethiopia (NBE) addressed the ongoing financial sector reforms at the 7th Annual East African Finance Conference in Addis Ababa. He revealed a significant rise in the loan portfolio of Ethiopian financial institutions, now standing at Birr 2.3 trillion. Projecting continued growth, the Governor anticipates an increase in financial …

Financial Sector’s Loan Portfolio Reaches Birr 2.3 Trillion Read More »

A groundbreaking ceremony on May 8th, 2024, marked the official start of construction for Toppan Gravity’s USD 55 million manufacturing facility in Bole Lemi Industrial Park.  The Japanese security solutions leader will leverage its expertise in high-security documents such as passports and ID cards to address Ethiopia’s growing demand in this area. This joint project …

Toppan Gravity Breaks Ground on USD 55 Million Secure Printing Facility Read More »

National Bank of Ethiopia (NBE) Governor Mamo Mihretu expressed his hope that Ethiopia would very soon have a more open, diversified, and competitive financial system that fosters innovation, and inclusion, and operates in line with international best practices. The governor made the above remark in his opening speech to the 7th East Africa Summit in …

NBE Governor Hopes To See Transformed Finance Sector Very Soon Read More »

During a discussion between the Non-Resident Ambassador of Ethiopia to Hungary, Tsegab Kebebew, and members of the Hungarian Chamber of Commerce, efforts to enhance business connections between Ethiopia and Hungary were emphasized. The Chairman of the African Committee of the Hungarian Chamber of Commerce, Mr. Kàroly Kovàs, expressed the Hungarian business community’s strong interest in …

Hungarian Chamber Of Commerce Urged To Strengthen Business Ties With Ethiopia Read More »

 The 2024 East Africa Finance Summit kicked off in Addis Ababa today under the theme “Exploring New Frontiers: Shaping the Future of Financial Landscape & Unlocking Opportunities for Collaboration in East Africa”. The two-day annual summit brought together various players in the financial sector in East Africa. The Addis Ababa University and i-Capital Africa Institute …

East African Financial Summit Underway In Addis Ababa Read More »

A groundbreaking ceremony was held today at the Bole Lemi Industrial Park for a new $55 million manufacturing facility by Toppan Gravity, a leading provider of secure payment and identity solutions. Toppan Gravity is a renowned global company that specializes in the production of high-security documents, including passports, national ID cards, ATM cards, and Mastercard …

Cornerstone Laid For Toppan Gravity’s $55M Secure Document Printing Facility At Bole Lemi IP Read More »

The Ethiopian Investment Commission (EIC) disclosed that companies operating within industrial parks are allowed to supply 50 percent of their products to the local market. Deputy Commissioner of the Commission Zeleke Temesgen said that manufacturing industry parks have been built and put into operation to encourage foreign direct investment and increase the earnings of foreign …

Companies Operating In Industrial Parks To Supply Products To Local Market Read More »