The Economic Commission for Africa (ECA) and International Chamber of Commerce (ICC) have jointly launched Centres of Entrepreneurship in Africa (CEA).

With strategic locations across Africa, the ECA – ICC Centres of Entrepreneurship will work with various stakeholders, including businesses, chambers of commerce, academic institutions, intergovernmental and governmental agencies, to connect local entrepreneurs to global markets and enhance regulatory conditions for SMEs to thrive.

Ethiopia is in preparation to set up one stop border service with Eritrea, in a bid to utilize Assab port.

“we have prepared customs protocol and the Ethiopian government has already submitted it to the Eritrean ministry of foreign affairs. We have finalized every preparation on Ethiopian side and we are waiting responses from Eritrean side,” said Debele Kabeta, commissioner of Ethiopian Customs Commission (ECC).

African import-export bank has approved USD500 million, which will be shared among 18 commercial banks in Ethiopia.

“I have also asked Afrexim bank to open office in Ethiopia,” said Yinager Dessie, governor of National Bank of Ethiopia (NBE), after launching a two-day technical discussion between Afrexim and Ethiopian banks, on how to utilize and return the loan.

“Kenyan drivers and traders are in problem because Ethiopian banks are refusing to accept Kenyan shilling,” said Mercy Ireri, secretary of Kenyan Transporters Association, during when Kenyan business delegation discussed with Ethiopian counterparts on September 15, 2021, at Radisson Blu hotel, Addis Ababa.

The 100th edition of Ethiopian Business Review (EBR) magazine was colorfully celebrated at Radisson Blu hotel yesterday, on 14th of September 2021. 

The event was attended by Yonathan Tesfaye, Deputy Director-General of the Ethiopian Media Authority, Amare Aregawi, Executive Chairman of the Ethiopian Media Council, senior government officials, partner organizations, and invited guests.

Libya Oil Ethiopia is tapping into side businesses as profit margins from fuel supply and retail in Ethiopia stagnate. With fuel companies discouraged, “we are focusing on partnerships with local banks and international food chains. Our target is to offer full packages with one-stop services at our fuel stations, in addition to fuel,” said Chokri Dridi, General Manager of Libya Oil Ethiopia Limited, which has over 160 petroleum stations across Ethiopia.

Safaricom Telecommunications Ethiopia Plc, has commenced deploying network infrastructure, importing equipment, and recruiting staff in Addis Ababa, in a bid to launch its telecom services by the first half of 2022. The company will channel USD300 million for annual network infrastructure outlays, out of the USD8.5 billion it promised to invest in Ethiopia over the course of the next ten years.

The National Bank of Ethiopia (NBE) drew four cards with the aim of “controlling galloping inflation by minimizing currency supply into the economy.” Implementation of the new measurements has already put commercial banks and insurance companies in a hot spot and will begin September 11, 2021—the first day of the Ethiopian new year.