For the first time in over a decade, the state-owned telecom company Ethio Telecom is in the process of applying for a loan from an American financier. The telecom behemoth has surpassed its forecasts to wrap up another stellar year in the just-concluded financial year. The 130-year-old business revealed that its unaudited net profit increased …
Ethio Telecom applies for first American loan in over a decade Read More »
In its statement, the National Bank of Ethiopia (NBE) disclosed that Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), and Mamo E. Mihretu, Governor of the National Bank of Ethiopia (NBE), have signed a bilateral currency swap agreement for the UAE dirham (AED) and birr. The two parties also entered into …
Ethiopia has earned 1.43 billion USD from coffee exports during the recently concluded fiscal year. In a press conference detailing the authority’s performance over the past year, the Ethiopian Coffee and Tea Authority stated that the revenue has been secured by exporting over 298,000 tons of coffee to various countries during the stated period. The …
Ethiopia’s Coffee Exports Generate Over 1.4 Billion USD In Revenue Read More »
Consul General of the Federal Democratic Republic of Ethiopia in Dubai and Northern Emirates, Ambassador Aklulu Kebede, announced activities underway to lure UAE investors into the Ethiopian market. Ambassador Aklulu conferred with a delegation of the Ethiopian Industrial Parks Development Corporation (IPDC) on works being done to promote the Ethiopian investment potential to UAE businesses. …
Activities Underway To Lure UAE Companies Into Investments In Ethiopia Read More »
The Ethiopian Capital Market Authority (ECMA) has published a directive that permits the issuance of a license for the operation of exchanges and over-the-counter markets. According to ECMA’s statement released today, the first securities exchange license in Ethiopia will be made possible by the landmark directive. According to ECMA, the Ministry of Justice authorized and …
Scheduled for June 26-28, 2025, at the Millennium Hall in Addis Ababa, for the first time in the East Africa region the East Africa Infrastructure and Water Expo aims to foster collaboration, innovation, and growth in the sector. Organized by DMG Events, the expo will co-locate with Big 5 Construct Ethiopia, bringing together the entire infrastructure …
Ethiopia: Addis Ababa to Host First East Africa Infrastructure and Water Expo Read More »
Ethiopia has witnessed a significant surge in remittances, with over USD 6 billion flowing into the country during the past fiscal year. This represents a 50% increase compared to the previous year, according to the Ethiopian Diaspora Service. Deputy Director General Belayneh Atnaw revealed that this unprecedented level of remittance has provided a much-needed boost …
Ethiopian Airlines has implemented a new policy requiring all foreign international passengers to purchase airline tickets in US dollars, effective July 8, 2024. Previously, foreign travelers could buy tickets using Ethiopian Birr while in Addis Ababa. The decision comes amid ongoing difficulties for airlines in repatriating funds from ticket sales within Ethiopia. As of June …
Ethiopian Airlines Switches to Dollar-Only Ticket Sales for Foreign Travelers Read More »
The Commercial Bank of Ethiopia (CBE) announced record-high profits and substantial growth across key indicators for the 2023/24 fiscal year. The bank reported a total income of Birr 135.4 billion for the year, representing a 13% increase over the previous year. Notably, CBE achieved its highest-ever pre-tax profit of Birr 25.6 billion, attributed to successful …
Commercial Bank of Ethiopia Registers Record Profit in 2023/24 Read More »
The Gorgora Eco Resort, developed under the “Dine for Nation” initiative in the Amhara region of Ethiopia, will play an instrumental role in promoting culture, nature, and tourism, UN officials underscored. UN Resident and Humanitarian Coordinator, Ramiz Alakabarov and Director for Gender Equality and Women Empowerment Division at UNIDO, Aurelia Patrizia Calabro are very much …
Gorgora Eco Resort Instrumental to Promote Culture, Nature & Tourism: UN Officials Read More »