Ashenafi EndaleNovember 27, 2020
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1min1310

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.


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1min3270

The Addis Ababa city administration has discovered over 1,000-hectare plots of land whose owners are unknown and held illegally. The administration also found 100 houses unidentified with legal owners.

The informal land and housing market mushroomed in the capital, is under reform, according to Adanech Abebe, deputy mayor, while disclosing findings of undergoing land and housing audit assessment.


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1min2220

Number of Ethiopian asylum seekers crossed into Sudan has surpassed 25,300, according to United Nations for the Coordination of Humanitarian Affairs (UNOCHA). “the UN is alarmed by the escalating conflict in north Ethiopia, increasing insecurity in western and southern Oromia, as well as eastern Benishangul Gumuz region,” stated the organization, on November 16, 2020.


Ashenafi EndaleOctober 12, 2020
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1min4670

Zamzam bank, the first full fledged interest free bank, became operational on october 12, 2020. The bank has received its operation license from Yinager Dessie (PhD) governor of NBE, at a grand inauguration ceremony at Skylight hotel.

Zamzam, which is established with 11,200 shareholders, has ETB880 million paid up capital and ETB1.8 billion subscribed capital.
Zamzam bank has requested license from the central bank 13 years ago. Nonetheless, the founding members had to wait in vain,despite fulfilling requirements.
close to 20 new banks are currently  in the pipeline, doubling the number of commercial banks in the country soon.
“It is not about competition. it is about cooperation and serving the largely unbanked population in the country,” lamented Melika Bedri, first president of Zamzam, who became the third female bank president in the financial industry.

Ashenafi EndaleOctober 1, 2020
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1min54610

The capital will have 1,500 electric buses under Bus Rapid Transit (BRT), a new mass transport routes the city administration is aspiring to build, Abdisa Yadeta, director of Federal Transport Authority, told EBR. The electric buses will be part of the 3,000 new buses the city administration is procuring in a bid to relief the transport shortage in the capital, which is political, economic and diplomatic seat. The EV buses will be linked to a dedicated power grid similar to the light railway.


Ashenafi EndaleSeptember 21, 2020
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1min10530

At least five cement investment projects are in the pipeline, after the revised Investment Proclamation allowed cement investment, which was banned eight years ago, due to market saturation.

New cement projects named Dangite, Sinoma and Berberta requested to invest in billions of  Birr, while Abay and Derba are already building production lines. Derba has got green light for expansion, which increases its production capacity by 2.5-million-ton per year.



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