bussines news

Ethio-Russian Manufacturing Partnership Beacon Of Success: Minister Of Industry

The Ethio-Russia partnership in manufacturing is a beacon of collaborative success, Minister of Industry, Melaku Alebel said. Russian business delegation led by Russia’s Head of Federal Agency on Mineral Resources, Eugeny Petrov is here in Ethiopia to explore investment opportunities. The delegation held a bilateral meeting with Minister of Industry, Melaku Alebel today. During the …

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Minister of Finance Convenes Ministerial Meeting of Horn of Africa Initiative in Brussels

Finance Minister Ahmed Shide convened a ministerial meeting of the Horn of Africa Initiative (HOAI) in Brussels and met EU officials on the sidelines. Minister of Finance of Ethiopia and current Chairperson of the Horn of Africa Initiative (HOAI) co-chaired the 19th Ministerial Meeting of HOAI along with the European Commission, Vice-President Margaritis Schinas from …

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Russia’s AvtoVAZ, Ethio Engineering Group Sign Agreement To Manufacture Lada Cars In Ethiopia

AvtoVAZ, the state-owned Russian automaker, and Ethiopia Engineering Group, an Ethiopian public enterprise, have signed a letter of intent to manufacture lada cars in Ethiopia. CEO of Ethio Engineering, Ambassador Suleman Dedefo, and Sales and Marketing Vice President of AvtoVAZ, ILYA SAVINOV have signed the letter of intent representing their companies. During the signing ceremony, …

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Ethio Telecom Rolls Out Cutting-Edge Products, Services

 Ethio Telecom today launched new value-adding services to its customers today that allow them to make phone calls with super audio and video quality. The unveiled services are “VoLTE Service”, “Rich Communication Service”, “Multimedia Messaging Service” and “Voice Mail Service”. “VoLTE service” is said to enable customers to make phone calls with superior audio and …

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CBE Payment Card Service Receives Security Certification

 The Commercial Bank of Ethiopia (CBE) has received recognition and certification from SISA, an international organization working on cyber security, for meeting the requirements of the Payment Card Industry Data Security Standard (PCI DSS). It is noted that the bank has been able to be recognized for meeting basic cyber security requirements such as using …

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Ethiopia Holds Global Investor Call, Reiterates Intention To Treat All External Creditors Equitably

The Ministry of Finance of Ethiopia today held a Global Investor Call to update its bondholders on the latest macroeconomic developments in the country, the status of its engagement with development partners, and Ethiopia’s strategy towards external creditors on debt treatment, the Ministry of Finance disclosed. State Minister Eyob Tekalign led a one-hour session with …

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Africa’s Average Debt-To-GDP Ratio Will Stabilize At 65% In 2024: Research

Africa’s average debt-to-GDP ratio will remain high at 66% in 2023 and stabilize at 65% in 2024, the African Union indicated, citing a recent research analysis. This is due to growing financing needs associated with rising food and energy import bills, high debt service costs, exchange rate depreciations, and rollover risks. In addition, many countries …

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Africa’s Cooperation with Other Countries Crucial for Dev’t, Says Economics Prof. Sachs  

Africa as a whole needs strong relations with other countries across the globe to register huge economic development, Professor Jeffrey Sachs observed. The Office of the Prime Minister held its first “Perspectives” – PMO Occasional Lecture Series yesterday by featuring the world-renowned development economist Professor Jeffrey Sachs. In his lecture, the professor said Africa as …

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