bussines news

The Ministry of Agriculture (MoA) has unveiled plans to establish 18 livestock collection centers in nine pastoralist and semi-pastoralist clusters, aiming to enhance Ethiopia’s livestock market. The centers will be constructed in key livestock regions, with three clusters each in Oromia and Somali, one in Afar, and two in the South and South West states. …

Ethiopia: MoA to Build 18 Livestock Collection Centers Read More »

Ethio Telecom has announced plans to secure Birr 163.7 billion in revenue for the 2024/25 Ethiopian fiscal year, marking a significant 74.7% increase from the previous year’s Birr 93.7 billion. CEO Frehiwot Tamiru outlined the ambitious goal while presenting the company’s annual plan. The state-owned telecom giant aims to expand its subscriber base by 6%, …

Ethiopia: Ethio Telecom Targets Birr 163.7 Billion Revenue for 2024/25 Fiscal Year Read More »

Ethiopian Reinsurance, established eight years ago with an initial capital of Birr 1 billion, announced that it has saved the country USD 50 million in foreign currency. The company, which provides reinsurance services to Ethiopian insurance companies, has played a crucial role in retaining funds that were previously spent abroad. Fikru Tsegaye, Executive Director of …

Ethiopian Reinsurance Saves USD 50 Million in Foreign Currency Read More »

The Oromia State Culture and Tourism Bureau has announced its preparations for the inaugural “Irreechaa Expo 2024,” set to be held at the Addis Ababa Bazar and Exhibition Center from September 28 to October 4, 2024. Deputy Head of the Bureau, Derara Tuluma, revealed that the event, organized in collaboration with Hagere Event and Promotion, …

Ethiopia: Oromia Announces First-Ever Irreechaa Expo 2024 Read More »

Today, Ethiopian Airlines, Africa’s largest carrier, announced that it will add two more flights to and from Athens, the capital of the Hellenic Republic. Following the latest two additional flights, the Airline will serve Greece’s historic capital and largest city six times a week. The latest schedule will be effective from 2 December 2024, the …

Ethiopian Airlines announces additional flights to Athens Read More »

Ethiopia has launched its first-ever Tourism Satellite Account (ET-TSA), a strategic initiative designed to unlock the full economic potential of the country’s tourism sector. The ET-TSA, prepared in collaboration with the UN Tourism Statistics Department, the International Monetary Fund (IMF), and other partners, took over 18 months to complete. This framework provides essential data for …

Ethiopia Unveils First-Ever Tourism Satellite Account Read More »

The National Bank of Ethiopia (NBE) has unveiled a strategic initiative to enhance foreign currency inflows by launching a six-month campaign to increase remittances. The campaign involves government agencies, financial institutions, diplomatic missions, and the diaspora and is part of broader efforts to stimulate hard currency generation. NBE has advised financial institutions to offer zero …

Ethiopia: NBE Launches Campaign to Boost Remittance Revenue and Foreign Currency Flow Read More »

Ethiopia and China have reached agreement to set up platform for the exchange of knowledge and experiences between their respective manufacturing industry communities. This move aims to strengthen trade and investment cooperation between the two nations, fostering greater collaboration and understanding. During a consultation between the Ministers of Industry from both countries, it was decided …

Ethiopia and China discuss manufacturing industries experience exchange platform Read More »

Ethiopian Electric Power (EEP) announced that it was on track to complete five key infrastructure projects, including power transmission and distribution stations, within the current fiscal year. In a statement, EEP’s Chief Executive Officer, Ashebr Balcha, highlighted progress on several projects aimed at improving the country’s energy supply. Among them is the 230 KV 2nd circuit …

Ethiopian Electric Power Reveals Major Infrastructure Projects for 2024/25 Read More »

Ethiopia secured over USD 196 million from the export of 42,322 tons of coffee in just one month, setting a new record for foreign currency earnings, according to the Ethiopian Coffee and Tea Authority. The Director General of the Authority, Adugna Debela (PhD), confirmed that the latest export figures marked the highest monthly revenue from …

Ethiopia Achieves Record Coffee Export Revenue Read More »