bussines news

The Ethiopian Customs Commission (ECC) has announced a record revenue collection of Birr 88.1 billion for the first quarter of the fiscal year, surpassing its initial target of Birr 87.2 billion. This achievement marks an impressive 0.86% increase beyond the Commission’s goal. ECC Chief Commissioner Debele Kabeta, highlighted that the revenue exceeded last year’s first-quarter …

Ethiopia: Customs Commission Exceeds First Quarter Revenue Target Read More »

The China high level delegation team Lead by the Vice Chairman of China International Development Cooperation Agency (CIDCA) Zhao Fengtao has made fruitful discussion with Ethiopia’s Minister of Finance, Ahmed Shide. On the occasion, the Minister briefed on the ongoing macro-economic reform program measures taken by the Ethiopian government, main achievements during the last two …

CIDCA Highlights Priority Areas for Future Cooperation with Ethiopia  Read More »

Ethiopian Airlines has introduced three additional flights to/from Amman, Jordan. The additional flights will be operational every Monday, Wednesday, and Friday effective November 4, 2024, Ethiopian stated. Source: FBC

The International Forum of Sovereign Wealth Funds, which monitors such funds globally, recognized the Ethiopian Investment Holdings as Africa’s largest sovereign wealth fund, with assets under management of US$150 billion, according Pindula, a Zimbabwean media outlet. The Ethiopian fund holds over 30 state companies, including flagship enterprises such as Ethiopian Airlines and Ethio Telecom. Source: …

Ethiopian Investment Holdings manages assets worth $150 billion Read More »

The Ethiopian Coffee and Tea Authority (ECTA) has unveiled a strategic plan to significantly enhance the country’s tea, spice, and coffee production. ECTA’s Director General, Dr. Adugna Debela, outlined key initiatives aimed at expanding these agricultural sectors, with a focus on both improving quality and increasing output to capture new markets. While Ethiopia is globally …

Ethiopia: Authority Sets Plans to Boost Tea, Spice, and Coffee Exports Read More »

The Ministry of Trade and Regional Integration announced adjustments to fuel prices, effective October 08, 2024.  The price hike applies to gasoline, kerosene, white diesel, light black diesel, heavy black diesel, and jet fuel prices. Here’s a breakdown of the new retail prices per liter: Fuel Type Price, per liter(Until October 8) Adjusted Price, per …

Ethiopia: Fuel Prices Increase Read More »

Ethiopian Investment Commission (EIC) and China’s Chongqing Kunhuang International Industry Group (CKIIG) have signed a Sub-Developer Agreement for sub-development of a parcel of land within the Gada Special Economic Zone. It was mentioned that CKIIG aims to develop and implement its project in 20 hectares of land with a total capital of 50 million USD …

EIC, China’s CKIIG ink Sub-Developer Agreement worth $50M Read More »

The Ministry of Urban and Infrastructure has unveiled a smart city initiative aimed at transforming 275 towns across Ethiopia into smart cities by 2024/2025. The plan seeks to modernize urban services, improve living standards, and drive the country’s urban development forward. State Minister Fenta Dejen revealed that the initiative will begin with 31 cities in …

Ethiopia: Ministry of Urban and Infrastructure Launches Ambitious Smart City Initiative Read More »

The National Bank of Ethiopia (NBE) has taken a significant step towards deepening the country’s foreign exchange market by granting licenses to five companies to operate as Independent Foreign Exchange Bureaus. In a statement released today, the NBE announced that Dugda Fidelity Investment PLC, Ethio Independent Foreign Exchange Bureau, Global Independent Foreign Exchange Bureau, Robust …

Ethiopia: NBE Licenses Five New Independent Foreign Exchange Bureaus Read More »

International ride-hailing service Yango, a subsidiary of Yango Group, has announced two strategic partnerships in Ethiopia, aimed at enhancing both transportation and healthcare services. The company has teamed up with Awash Bank, one of Ethiopia’s leading financial institutions, and Amakari Doctors, a key player in the telemedicine sector, to bring innovative solutions to commuters and …

Ethiopia: Yango Partners with Awash Bank and Amakari Doctors to Enhance Digital Payment Solutions and Health Services in Ethiopia Read More »