Ashenafi EndaleSeptember 17, 202132

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.


Ashenafi EndaleSeptember 15, 202170

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).


Ashenafi EndaleSeptember 7, 202147

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.


Ashenafi EndaleSeptember 5, 202161

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.


Ashenafi EndaleSeptember 5, 2021254

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.


Ashenafi EndaleAugust 27, 2021194

The portion of currency outside of banks and in individuals’ hands bulged to ETB127.5 billion during the third quarter ending March 2021, up from ETB109.3 billion in March 2020, according to the latest report from the National Bank of Ethiopia. During the year in between, the figure dramatically dropped to ETB64.6, after most monies entered banks’ vaults ensuing demonetization in September 2020. Birrs are now back in peoples’ pockets.


Ashenafi EndaleAugust 19, 202175
The‌ ‌state-owned‌ ‌telecom‌ ‌firm‌ ‌disclosed‌ ‌ETB56.5‌ ‌billion‌ ‌in‌ ‌revenue‌ ‌for‌ ‌the‌ ‌just‌ ‌ended‌ ‌2020/21‌ ‌Ethiopian‌ fiscal‌ ‌year,‌ ‌up‌ ‌by‌ ‌ETB8.8‌ ‌billion‌ ‌from‌ ‌previous‌ ‌year.‌ ‌The‌ ‌enterprise‌ ‌netted‌ ‌ETB31‌ ‌billion‌ ‌during‌ ‌the‌ ‌second‌ half‌ ‌of‌ ‌2020/21,‌ ‌up‌ ‌from‌ ‌the‌ ‌ETB25.5‌ ‌billion‌ ‌during‌ ‌the‌ ‌first‌ ‌half‌ ‌year,‌ ‌during‌ ‌when‌ ‌it‌ ‌lost‌ ‌its‌ ‌assets‌ ‌and‌ service‌ ‌revenues‌ ‌to‌ ‌conflicts‌ ‌in‌ ‌Tigray‌ ‌regional‌ ‌state.‌  


Ashenafi EndaleAugust 12, 2021221

A new hope was dawn when two banks named Goh and Selam recently begun selling shares with the aim to finance specifically housing demand. Ethiopia’s housing gap is an accumulation from generations, with over 400,000 new demand annually matched by less than 100,000 supply, government schemes and private developers teamed up.  Now, Goh and Selam revived the demand of millions of house seekers, promising to deliver hundreds of thousands of houses in few years. Goh will provide loans for the house buyers, while Selam both the developer and buyer.

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