Ashenafi EndaleJanuary 22, 2021
United-Nations.jpg

1min800

The UN adopted the long-awaited Treaty on the Prohibition of Nuclear Weapons. Although the nuclear owners including USA, UK, Russia, china, and France have been silent, 122 countries have signed the final draft of the treaty, which bans outright the use, threat of use, development, production, testing and stockpiling of nuclear weapons under any means.


Ashenafi EndaleJanuary 21, 2021
ethio-telecom-baget.jpg

1min1790

Ethio telecom generated ETB25.57 billion between July and December 2020, which is 95pct of the plan for the first six months of 2020/21 Ethiopian fiscal year. the revenue is a 12.3pct increment from the last year same period, despite frequent shutdowns during the latest period, following political instabilities in northern and western Ethiopia.


Ashenafi EndaleJanuary 8, 2021
https___specials-images.forbesimg.com_imageserve_1135396007_0x0.jpg

2min5170

Boeing has entered into agreement to pay a total criminal monetary amount of over USD2.5 billion, the US Department of Justice disclosed on January 7, 2021. Criminal information filed at northern district of Texas, Under the deferred prosecution agreement (DPA), charges Boeing of conspiracy to defraud the united states.

The total USD2.5 billion, is composed of a criminal monetary penalty of USD243.6 million, compensation payments to Boeing’s 737 MAX airline customers of USD1.77 billion, and the establishment of a USD500 million crash-victim beneficiaries fund to compensate the heirs, relatives, and legal beneficiaries of the 346 passengers who died in the Boeing 737 MAX crashes of Indonesia’s Lion Air Flight 610 and Ethiopian Airlines Flight 302.

“Boeing’s employees chose the path of profit over candor by concealing material information from the FAA concerning the operation of its 737 Max airplane and engaging in an effort to cover up their deception. This resolution holds Boeing accountable for its employees’ criminal misconduct, addresses the financial impact to Boeing’s airline customers, and hopefully provides some measure of compensation to the crash-victims’ families and beneficiaries,” stated Acting Assistant Attorney General David P. Burns of the Justice Department’s Criminal Division.

Boeing Max products were grounded in 59 airlines, to which the company pays compensation, apart from the families of the deceased in Indonesian and Ethiopian demised flights. All 157 passengers lost their lives during Flight 302 and 189 in Flight 610.


Ashenafi EndaleDecember 31, 2020
quarantin-empty-cafe-exhibition-complex-hall-due-to-epidemic-covid-176583410.jpg

1min9740

Ethiopia has lost over USD300 million from Meeting Incentives Conferencing and Exhibitions (MICE), since the corona virus, according to a study presented by Addis Ababa chamber commerce and sectoral association, on December 31 There were 24 international exhibitions organized in Addis Ababa, annually, before covid19. There are
also over 700 event organizers in Addis Ababa, who currently has lost their manpower. Between ETB200 million and ETB250 million transactions takes place per exhibition, according to Aklile Belete, managing partner at African Trade Fairs Partner.


Ashenafi EndaleDecember 11, 2020
EthSwitch-Logo-Ethiopia-ET-Switch-1280x720-1.jpg

1min10460

Eth-Switch S.C, Ethiopia’s national payments switch, declared ETB94.5 million revenue and ETB24.3 million net profit for 2019/20 Ethiopian financial year. Its profit surged by 93pct from previous year, following increasing use of electronic transaction under covid19 pandemic and government measurements to discourage cash-based transactions. Eth-Switch has been reporting loss for three consecutive years until last year.


Ashenafi EndaleNovember 27, 2020
eyob-ministry-of-trasher.jpg

1min8830

The Ethiopian Telecommunication Authority has floated Request for Proposals that leads to pick two private telecom service providers. The bidding will be open for the next three months, after which the winners are licensed by April 2021, according to Eyob Tekalign (PhD), state minister of Finance.


Ashenafi EndaleNovember 15, 2020
Supply-Distortion-The-Law_1.jpg

1min4990

As a developing country, the Ethiopian economy is largely characterized by the informal sector with studies indicating its expanding size. The International Monetary Fund estimates that in countries in transition, like Ethiopia, the underground economy accounts for as high as 40.1Pct of GDP. Although the government has been taking different measures to reduce the role of the informal sector, these interventions have failed to materialize. However, the government now says its latest measure of replacing currency notes with new ones is positively working in that direction. But experts disagree with the government’s concision by saying the expansion of the informal economy is highly interconnected with the formal economy’s failure to produce enough goods to satisfy national demand. EBR’s Ashenafi Endale reports.


Ashenafi EndaleNovember 15, 2020
Amelework-Gidey.jpg

1min5720
“I Want to be the Top Industrialist Woman in Africa.”

Amelework Gidey is Founder and Managing Director of Technostyle, a company known for over 20 years as a furniture importer and distributer. She is one of the leading female entrepreneurs in Ethiopia’s emerging manufacturing sector. With the acquisition of the foam and furniture manufacturing division of MNS, a Turkish based textile manufacturer and exporter, Technostyle has been expanding through backward integration of its core businesses since 2015. This has given the company a better competitive edge as it now controls a good proportion of the supply of raw materials.


Ashenafi EndaleNovember 15, 2020
Pushing-or-Pulling_1.jpg

1min6310
The Role of Public Enterprises in Ethiopia

Ethiopia’s economic policies of the past two decades indicate the growing role and significance of state-owned enterprises (SOEs). Essential services such as electricity, telecommunications, shipping and logistics, and transport are mainly provided by SOEs. In addition to giant public enterprises, like Ethiopian Airlines, Ethio Telecom, and Ethiopian Electric Power, there are also SOEs engaged in railways, industrial parks, hotels, sugar, and other manufacturing industries. Although SOEs are increasing in the volume of transactions they involve, most remain inefficient and unable to service their debts. Their accumulated debt is especially skyrocketing, putting a huge stress on the national economy. The current accumulated debt of 21 SOEs is ETB846 billion, which is more than half of the total national debts. EBR editors explore the issue.



About us

Ethiopian Business Review is first class and high quality monthly business magazine.


CONTACT US

CALL US ANYTIME



Newsletter





This site is protected by wp-copyrightpro.com