bussines news

Iran’s ambassador to Ethiopia, Ali Akbar, said that efforts will be made for Iranian investors to invest in industrial parks in the fields of agro-processing and vehicle manufacturing and assembly. Industrial Parks Development Corporation (IPDC) CEO, Fisseha Yitagesu received the ambassador at his office and had a discussion. During the discussion, the two officials exchanged …

Iran Desirous to Encourage Its Investors to Invest in Ethiopia’s Industrial Parks Read More »

Guangzhou Automobile Corporation (GAC), a Chinese state-controlled vehicle manufacturing company, together with Huajian Group, today declared that it is set to start assembling electric vehicles in Ethiopia soon. GAC’s decision was revealed during a discussion between Ethiopia’s Minister of Transport and Logistics Alemu Sime and a Chinese delegation, consisting of Huajian Group and GAC senior …

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 Ethio telecom disclosed that it is carrying out activities to expand mobile telephone networks across all rural parts of Ethiopia by utilizing renewable energy as alternative mechanism. Ethio-telecom has today inaugurated rural mobile telephone network projects in Somali and Central Ethiopia regions. Network Infrastructure Deputy Chief Officer, Alem Haile-Mariam said the Rural Mobile Network Solution …

Ethio telecom working to expand mobile telephone network in all rural areas of country Read More »

 Ethiopian Airlines, Africa’s largest carrier, today announced that it will increase its weekly direct flight to Brussels, Belgium, and serve the city with a daily direct flight. In a statement published on social media, the airline stated that the latest schedule will be effective as of October 27, 2024. Source: FBC

Ethiopia has officially become the 88th member of the WorldSkills organization, marking a significant milestone in the country’s efforts to enhance its technical and vocational education and training (TVET) system. The Ministry of Labor and Skills announced the membership, highlighting the two-year process leading to this achievement. Minister Mufferiat Kamil emphasized the economic, political, and …

Ethiopia Joins WorldSkills Read More »

The National Bank of Ethiopia (NBE) announced that it was now accepting applications for Independent Foreign Exchange Bureaus. This move is in line with the newly implemented Foreign Exchange Directive (FXD/01/2024). These new bureaus will be authorized to buy and sell foreign currency cash notes at rates determined by market forces. This marks a significant …

Ethiopia: National Bank Accepts Applications for Forex Bureaus Read More »

AliExpress, a major online retail service owned by Alibaba Group, is entering the Ethiopian market. According to Abiyot Bayu, (PhD) a Senior Advisor to the Minister of Innovation and Technology, who spoke with Shega, the agreement has been reached, and an official announcement will be made soon. This news comes after a virtual meeting on …

Chinese E-commerce Giant Alibaba to Enter Ethiopia Read More »

Ethio-Engineering Group unveiled plans to construct a modern steel factory. The project is slated to commence in Nekemte city during the current fiscal year. The factory’s state-of-the-art equipment and technology, imported from Italy, have already arrived in the country. The facility will comprise three distinct production units dedicated to transforming iron ore into various steel …

Ethiopia: Ethio-Engineering Group to Build a Modern Steel Factory Read More »

Gadaa Bank, in partnership with Santim Pay Financial Solutions S.C., has launched a new QR Code payment system. The service will enable contactless digital transactions across various sectors, including hotels, cafes, shops, and online platforms. According to the bank’s chief executive, the QR Code system is designed to be user-friendly and accessible to both businesses …

Ethiopia: Gadaa Bank Introduces QR Code Payment System Read More »

The Public Procurement and Property Authority (PPPA) announced that its e-Government Procurement (e-GP) system facilitated over 22,000 tenders during the past fiscal year, resulting in a total transaction value of Birr 320 billion. Tadesse Kebede, the e-GP Project Manager, highlighted the system’s rapid growth since its inception in 2022. From a modest start with nine …

Ethiopia: E-Government Procurement System Delivers Significant Gains Read More »